Normanton Lodge Limited

	Page
Strategic Report	1—2
Director's Report	3
Independent Auditor's Report	4—6
Profit and Loss Account	7
Balance Sheet	8
Statement of Changes in Equity	9
Cash Flow Statement	10
Notes to the Cash Flow Statement	11
Notes to the Financial Statements	12—18

The director presents his strategic report for the year ended 31 December 2024.

Principal Activity

The company's principal activity continues to be that of Residential homes for the elderly.

Review of the Business

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and uncertainties we face.

The company continues to operate two separate care homes for the elderly:

- Normanton Lodge, South Normanton, Alfreton.

- Manorfields - Derby.

We consider that our key financial performance indicators are those that communicate the financial performance and strength of the company as a whole, these being occupancy levels, turnover and direct wage costs of the business.

	Unit	2024	2023
Turnover	£	3,399,468	3,256,125
Average number of residents		86	90
Average weekly fee	£	760	696
Direct wages and national insurance	£	2,326,542	1,887,725
Wages as a percentage of turnover	%	68	58

The above indicators show a 4% increase in turnover for the year to 31 December 2024, there was a 9% increase in average weekly fees and a 4% decrease in average number of residents.

Both residential homes maintained a steady flow of residents throughout the year, and operation at an average of 80% occupancy.

When analysing the profitability of the company we use the earnings before interest, taxation, depreciation and amortisation (EBITDA) as the key indicator and also ignore any management charges. Using this method, the profitability of the company was as follows:

	2024	2023
	£	£
(Loss)/Profit before taxation	(170,942)	316,816
Depreciation	268,541	275,771
EBITDA	97,599	592,587
Management fees	228,829	104,400
	326,428	696,987

The rising costs for wages and gas have put significant pressure on EBITDA, as they directly impact operating expenses.

The balance sheet on page 8 of the financial statements shows that the net assets of the company have decreased from £2,039,017 to £1,835,003.

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Normanton Lodge Limited

Strategic Report (continued)

For The Year Ended 31 December 2024

Principal Risks and Uncertainties

Financial risk includes credit risk and cashflow management. The company closely monitors its debtors to ensure credit risk is mitigated; in addition, the company monitors its cash reserves closely to ensure it is able to meet its commitments.

The government announced the introduction of the National Living Wage in 2016, aiming to raise it to £9.00 per hour for anyone over the age of 25. In 2019, it was recommended that workers become entitled to the National Living Wage at the age of 21 instead of 25. As of April 2021, this age of entitlement was lowered to 23.

The rate has gradually increased over the years, and by the end of the year, employees over the age of 21 were earning £11.44 per hour. Starting from 1 April 2025, the National Living Wage will rise to £12.21 for employees over 21 years of age.

In October 2024, the government announced plans to introduce a single adult wage rate applied to all workers over 18 years of age. This change will be phased in gradually to minimize its impact. At the end of the year, 18-20 year olds were paid £8.60 per hour under the National Minimum Wage, which will increase to £10 in April 2025, and then potentially to a single rate for everyone over 18 starting in April 2026.To minimise the impact of this increase a full review of staffing is continuously carried out with the aim of removing duplication of duties whilst ensuring the efficient operation of the homes. It is believed that by implementing the recommendations of this review there will be little overall impact on the key performance indicators.

Following the UK's Exit from the EU, there were changes to immigration rules, with a points-based system being introduced. The company does not employ any EU resident care workers and, whilst some nursing staff are recruited from the EU, these are all qualified to the required level and their pay is above the general salary threshold.

During 2022 the cost of gas rose by over 50%. Ofgem set a price cap for domestic customers but for businesses, particularly those with high energy consumption, there were no direct price caps, which meant they faced escalating costs without any ceiling or protection. This disproportionately affected industries such as care, manufacturing, hospitality, and retail, which rely heavily on energy to operate. Many businesses have been forced to either absorb the higher costs or pass them on to customers.

Looking forward, the continued rise in energy prices will be a lingering factor for many businesses, particularly those that did not have long-term energy contracts or hedging strategies in place. Energy efficiency and alternative energy sources might become more important for business sustainability moving forward. Some businesses may also be looking into government support schemes or funding programs to help with energy costs, but these may not be enough to fully offset the impact.

Fluctuating price inflation is a risk. The annual rate of inflation peaked at 11.1% in October 2022 and this had a knock-on effect on prices in 2023 and 2024, however, the annual rate of inflation has since decreased to around 3.4% by the end of

2024.

The company has a normal level of exposure to price, credit and liquidity risk arising from its trading activities which are only conducted in sterling.

On behalf of the board

Mr Paul Hearn

Director

30/09/2025

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Normanton Lodge Limited

Company No. 05410931

Director's Report For The Year Ended 31 December 2024

Director's Report

The director presents his report and the financial statements for the year ended 31 December 2024.

Directors

The director who held office during the year was as follows:

Mr Paul Hearn

Statement of Director's Responsibilities

The director is responsible for preparing the Strategic Report, the Director's Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the director is required to:

select suitable accounting policies and then apply them consistently;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable United Kingdom Accounting Standards, comprising FRS102, have been followed subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statement of Disclosure of Information to Auditors

In the case of each director in office at the date the Director's Report is approved:

so far as the director is aware, there is no relevant audit information of which the company's auditors are unaware; and
the director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Independent Auditors

The auditors, Just Audit Limited, have indicated their willingness to continue in office and a resolution concerning their re-appointment will be proposed at the next General Meeting.

Disclosure of information in the strategic report

The company has chosen, in accordance with Section 414C (11) of the Companies Act 2006 to include certain matters in its strategic report that would otherwise be required to be disclosed in this Director's Report. The Strategic Report can be found on page 1 of these accounts.

On behalf of the board

Mr Paul Hearn

Director

30/09/2025

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Independent Auditor's Report

to the Members of

Normanton Lodge Limited

Independent Auditor's Report

Opinion

We have audited the financial statements of Normanton Lodge Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement, Notes to the Cash Flow Statement and the Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

In our opinion the financial statements:

give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions Relating to Going Concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other Information

The other information comprises the information included in the Director's Report and the Strategic Report, other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the Director's Report and the Strategic Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on Other Matters Prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Strategic Report and Director's Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Strategic Report and Director's Report have been prepared in accordance with applicable legal requirements.

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Independent Auditor's Report (continued)

to the Members of

Normanton Lodge Limited

Matters on Which We Are Required to Report by Exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Director's Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.

Responsibilities of Directors

As explained more fully in the Director's Responsibilities Statement set out on page 3, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with

our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006, UK tax legislation and Care Quality Commission regulation, recognising the regulated nature of the company's activities. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the director that represented a risk of material misstatement due to fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use Of Our Report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters that we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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Independent Auditor's Report (continued)

to the Members of

Normanton Lodge Limited

David Fletcher BA BFP FCA (Senior Statutory Auditor)

for and on behalf of Just Audit Limited , Statutory Auditor

30/09/2025

Just Audit Limited

Strelley Hall

Main Street

Strelley

Nottinghamshire

NG8 6PE

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Normanton Lodge Limited

Profit and Loss Account

For The Year Ended 31 December 2024

Profit and Loss Account

		2024	2023
	Notes	£	£
TURNOVER	4	3,399,468	3,256,125
Cost of sales		(163,790 )	(163,565 )

GROSS PROFIT		3,235,678	3,092,560

Administrative expenses		(3,406,751 )	(2,775,744 )

OPERATING (LOSS)/PROFIT	5	(171,073 )	316,816
Other interest receivable and similar income		130	-

(LOSS)/PROFIT BEFORE TAXATION		(170,943 )	316,816
Tax on (Loss)/profit	10	(33,071 )	(206,008 )

(LOSS)/PROFIT AFTER TAXATION BEING (LOSS)/PROFIT FOR THE FINANCIAL YEAR		(204,014 )	110,808

The notes on pages 11 to 18 form part of these financial statements.

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Normanton Lodge Limited

Balance Sheet

As At 31 December 2024

Balance Sheet

Registered number: 05410931

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	12		11,486,356		11,738,543

			11,486,356		11,738,543
CURRENT ASSETS
Debtors	13	950,827		762,316
Cash at bank and in hand		72,112		193,353

		1,022,939		955,669
Creditors: Amounts Falling Due Within One Year	14	(10,301,364 )		(10,295,292 )

NET CURRENT ASSETS (LIABILITIES)			(9,278,425 )		(9,339,623 )

TOTAL ASSETS LESS CURRENT LIABILITIES			2,207,931		2,398,920

PROVISIONS FOR LIABILITIES
Deferred Taxation	15		(372,928 )		(359,903 )

NET ASSETS			1,835,003		2,039,017

CAPITAL AND RESERVES
Called up share capital	17		1		1
Revaluation reserve			1,272,698		1,272,698
Profit and Loss Account			562,304		766,318

SHAREHOLDERS' FUNDS			1,835,003		2,039,017

On behalf of the board

Mr Paul Hearn

Director

30/09/2025

The notes on pages 11 to 18 form part of these financial statements.

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Normanton Lodge Limited

Statement of Changes in Equity

For The Year Ended 31 December 2024

Statement of Changes in Equity

	Share Capital	Revaluation reserve	Profit and Loss Account	Total
	£	£	£	£
As at 1 January 2023	1	1,272,698	655,510	1,928,209
Profit for the year and total comprehensive income	-	-	110,808	110,808

As at 31 December 2023 and 1 January 2024	1	1,272,698	766,318	2,039,017


Loss for the year and total comprehensive income	-	-	(204,014 )	(204,014)

As at 31 December 2024	1	1,272,698	562,304	1,835,003

The revaluation reserve, which is non distributable, represents the cumulative effect of the revaluation of the freehold land and buildings up to date of transition to FRS 102, after which the company has adopted a deemed cost accounting policy.

The Profit and Loss Account records retained earnings and accumulated losses.

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Normanton Lodge Limited

Cash Flow Statement

For The Year Ended 31 December 2024

Cash Flow Statement

		2024	2023
	Notes	£	£
Cash flows from operating activities
Net cash generated from operations	1	21,332	89,715
Tax paid		(130,467 )	(116,383 )

Net cash used in operating activities		(109,135 )	(26,668 )

Cash flows from investing activities
Purchase of tangible assets		(16,354 )	(28,836 )
Interest received		130	-

Net cash used in investing activities		(16,224 )	(28,836 )

Cash flows from financing activities
Amount introduced by directors		21,805	310,000
Amount withdrawn by directors		(21,906)	(309,940)

Net cash (used in)/generated from financing activities		(101 )	60



Decrease in cash and cash equivalents		(125,460 )	(55,444 )
Cash and cash equivalents at beginning of year	2	193,353	248,797

Cash and cash equivalents at end of year	2	67,893	193,353

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Normanton Lodge Limited

Notes to the Cash Flow Statement

For The Year Ended 31 December 2024

Notes to the Cash Flow Statement

1. Reconciliation of (loss)/profit for the financial year to cash generated from operations

	2024	2023
	£	£
(Loss)/profit for the financial year	(204,014 )	110,808
Adjustments for:
Tax on (loss)/profit	33,071	206,008
Interest income	(130 )	-
Depreciation of tangible assets	268,541	275,771
Movements in working capital:
Increase in trade and other debtors	(188,511 )	(147,387 )
Decrease in trade and other creditors	(76,965 )	(365,928 )
Increase in deferred income	189,340	10,443

Net cash generated from operations	21,332	89,715

2. Cash and cash equivalents

Cash and cash equivalents, as stated in the Statement of Cash Flows, relates to the following items in the Balance Sheet:

	2024	2023
	£	£
Cash at bank and in hand	72,112	193,353
Overdraft facilities repayable on demand	(4,219 )	-

Cash and cash equivalents as stated in the Statement of Cash Flows	67,893	193,353

3. Analysis of changes in net debt

	As at 1 January 2024	Cash flows	As at 31 December 2024
	£	£	£
Cash at bank and in hand	193,353	(121,241)	72,112
Overdraft facilities repayable on demand	-	(4,219)	(4,219)

Cash and cash equivalents	193,353	(125,460)	67,893
Debts falling due within one year	(9,785,392 )	104,802	(9,680,590 )

	(9,592,039)	(20,658)	(9,612,697)

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Normanton Lodge Limited

Notes to the Financial Statements

For The Year Ended 31 December 2024

Notes to the Financial Statements

1. General Information

Normanton Lodge Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05410931 . The registered office is The Tax Partnership, 2 Cheapside, Derby, DE1 1BR.

2. Statement of Compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

3. Accounting Policies

3.1. Basis of Preparation of Financial Statements

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in £ sterling, which is the functional currency of the company.

3.2. Going Concern Disclosure

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future due to the fact that the company has continued to trade well and has the support of companies under common control. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

3.3. Significant judgements and estimations

In preparing these financial statements, the director has made the following judgements:

Determined whether there are indicators of impairment of the company's tangible asets. Factors taken into consideration in reaching such a decision included the economic conditions and estimated market values of the assets.

Key sources of estimation uncertainty

Freehold properties, included at deemed cost and other tangible fixed assets included at cost, are depreciated over their useful lives taking into account residual values, where appropriate. The land value, the estimated lives of the assets and their residual values are assessed annually and may vary depending on a number of factors. In addition, deferred tax is provided on the difference between the deemed cost and the indexed cost of the properties.

3.4. Turnover

Turnover represents the amount chargeable during the period in respect of the provision of care services.

The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

3.5. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.

3.6. Tangible Fixed Assets and Depreciation

Freehold properties are measured at deemed cost less accumulated depreciation and any accumulated impairment losses. Other assets are measured at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, other than land, over their expected useful lives on the following bases:

Freehold	2% on deemed cost
Plant & Machinery	20% on reducing balance
Motor Vehicles	20% on reducing balance
Fixtures & Fittings	20% on reducing balance
Computer Equipment	20% on reducing balance

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

3.7. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3.8. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3.9. Borrowings

Interest-bearing borrowings are carried at amortised cost, with the interest being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

4. Turnover

Analysis of turnover by class of business is as follows:

All of which arose in the United Kingdom

	2024	2023
	£	£
Rendering of services	3,399,468	3,256,125

5. Operating (Loss)/profit

The operating (loss)/profit is stated after charging:

	2024	2023
	£	£
Bad debts	9,844	-
Operating lease rentals	22,421	27,311
Depreciation of tangible fixed assets	268,541	275,771

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

6. Auditor's Remuneration

Remuneration received by the company's auditors during the year was as follows:

	2024	2023
	£	£
Audit Services
Audit of the company's financial statements	22,200	21,600

7. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2024	2023
	£	£
Wages and salaries	2,207,250	1,797,999
Social security costs	119,293	89,726
Other pension costs	23,237	17,332

	2,349,780	1,905,057

8. Average Number of Employees

Average number of employees, including the director, during the year was: 88 (2023: 88)

9. Director's remuneration

The director's remuneration for the year was as follows:

	2024	2023
	£	£
Director's Remuneration	-	-
Director's pension contributions	-	-
	-	-

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Tax on Profit

	Tax Rate		2024	2023
The tax charge on the (loss)/profit for the year was as follows:
	2024	2023	£	£
Current tax
UK Corporation Tax	25.0%	23.5%	20,046	130,466
Deferred Tax
Deferred taxation movement			13,025	75,542


Total tax charge for the period			33,071	206,008


The actual charge for the year can be reconciled to the expected charge for the year based on the loss and the standard rate of corporation tax as follows:
			2024	2023
			£	£
Profit before tax			(170,943)	316,816

Tax on profit at 25% (UK standard rate)			(42,736 )	74,517
Expenses not deductible for tax purposes			2,462	-
Capital allowances			60,320	55,949
Difference in tax rates			13,025	75,542

Total tax charge for the period			33,071	206,008

11. Intangible Assets

	Goodwill
	£
Cost
As at 1 January 2024	444,000

As at 31 December 2024	444,000

Amortisation
As at 1 January 2024	444,000

As at 31 December 2024	444,000

Net Book Value
As at 31 December 2024	-

As at 1 January 2024	-

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

12. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 January 2024	12,479,367	34,376	24,980	722,544
Additions	-	2,566	-	13,748

As at 31 December 2024	12,479,367	36,942	24,980	736,292

Depreciation
As at 1 January 2024	961,520	24,521	23,059	524,293
Provided during the period	222,171	2,335	480	41,407

As at 31 December 2024	1,183,691	26,856	23,539	565,700

Net Book Value
As at 31 December 2024	11,295,676	10,086	1,441	170,592

As at 1 January 2024	11,517,847	9,855	1,921	198,251


	Computer Equipment	Total
	£	£
Cost
As at 1 January 2024	42,884	13,304,151
Additions	40	16,354

As at 31 December 2024	42,924	13,320,505

Depreciation
As at 1 January 2024	32,215	1,565,608
Provided during the period	2,148	268,541

As at 31 December 2024	34,363	1,834,149

Net Book Value
As at 31 December 2024	8,561	11,486,356

As at 1 January 2024	10,669	11,738,543

Included within the net book value of land and buildings above is £11,295,676 (2023 - £11,517,847) in respect of freehold land and buildings.

Included in deemed cost of the land and buildings is the estimated cost of freehold land of £1,435,000 (2023 - £1,435,000) which is not depreciated.

Due to a change in accounting software, computer equipment is now shown separately.

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

13. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	341,343	220,588
Amounts owed by participating interests	578,599	513,699
Other debtors	30,885	28,029

	950,827	762,316

14. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	139,076	162,212
Bank loans and overdrafts	4,219	-
Amounts due to participating interest	9,680,590	9,785,392
Other creditors	79,293	73,231
Corporation tax	20,045	130,466
Taxation and social security	69,137	30,718
Accruals and deferred income	309,004	113,273

	10,301,364	10,295,292

15. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	372,928	359,903

16. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 January 2024	359,903	359,903
Deferred taxation movement	13,025	13,025

Balance at 31 December 2024	372,928	372,928

Included in the above is a deferred tax liability of £322,497 (2023 - £307,963) in respect of freehold properties which the company is not currently intending to sell but for which provision has been made in compliance with FRS 102.

17. Share Capital

	2024	2023
Allotted, called up and fully paid	£	£
1 Ordinary Shares of £ 1.00 each	1	1

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Normanton Lodge Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

18. Pension Commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

During the year the charge to the profit and loss account in respect of defined contribution schemes was £23,237 (2023: £17,332).

At the balance sheet date contributions of £5,112 (2023: £3,793) were due to the fund and are included in creditors.

19. Related Party Disclosures

Summary of transactions with other related parties

Loans were made to and from related companies under common control.

The loans are interest free and repayable on demand.

Loans to Related parties

	2024	2023
	£	£
At start of the year	513,698	517,148
Advanced	101,900	2,400
Repaid	(37,000)	(5,850)
At end of year	578,598	513,698

Loans from related parties

	2024	2023
	£	£
At start of year	9,785,392	10,240,252
Advanced	1,022,879	3,120
Repaid	(1,127,680)	(457,980)
At end of year	9,680,591	9,785,392

During the year, Normanton Lodge Limited was charged management fees by a company under common control of £228,829 (2023 - £104,400).

20. Controlling Parties

The company's controlling party is Mr Paul Hearn by virtue of his interest in the share capital of the company.

21. Loans and borrowings

The company's bank loans were repaid in full during 2022 as part of a bank refinancing deal with companies under common control, whereby companies under common control assumed additional bank loan liabilities in return for repayment of this company's bank loan.

Santander UK plc holds a legal charge and debenture over the properties and assets of Normanton Lodge Limited.

There are composite cross guarantees between companies under common control and bank loans in the accounts of these companies are secured by the legal charge and debenture from Normanton Lodge Limited. At 31 December 2024, these loans totalled £13,844,390 (2023 - £14,590,392).

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