ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

As restated

Company registration number: 07802196

	FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2025

	PARK VIEW CARE HOME (IPSWICH) LIMITED


PARK VIEW CARE HOME (IPSWICH) LIMITED REGISTERED NUMBER:07802196

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		As restated
	2025	2024
Note	£	£

Fixed assets
Tangible assets	4		336,780		359,172
			336,780		359,172
Current assets
Stocks		-		2,000
Debtors: amounts falling due within one year	5	3,217,823		3,096,291
Cash at bank and in hand		595,634		123,835
		3,813,457		3,222,126
Creditors: amounts falling due within one year	6	(1,875,257)		(1,849,096)
Net current assets			1,938,200		1,373,030
Total assets less current liabilities			2,274,980		1,732,202
Provisions for liabilities
Deferred tax		(62,998)		(27,904)
			(62,998)		(27,904)
Net assets			2,211,982		1,704,298

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PARK VIEW CARE HOME (IPSWICH) LIMITED REGISTERED NUMBER:07802196

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

				As restated
		2025		2024
		£		£

Capital and reserves
Called up share capital	90	90
Profit and loss account	2,211,892	1,704,208
	2,211,982	1,704,298

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 December 2025.

R J Jeffery

Director

The notes on pages 3 to 9 form part of these financial statements.

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.	General information

Park View Care Home (Ipswich) Limited is a private company limited by shares, registered in England and Wales. The address of its registered office is disclosed on the company information page.
The trading address of the company is 1 Chantry Close, Ipswich, IP2 0QR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property	-	4%	straight line
Plant and machinery	-	20%	straight line
Fixtures and fittings	-	20%	straight line
Office equipment	-	33%	straight line
Computer equipment	-	33%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

2.Accounting policies (continued)

2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Employees

The average monthly number of employees, including directors, during the year was 122 (2024 - 100).

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

	4.	Tangible fixed assets

	Long-term leasehold property	Plant and machinery	Fixtures and fittings	Office equipment	Computer equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 1 April 2024	117,338	17,782	677,312	33,574	21,057	867,063
Additions	-	-	62,078	20,684	3,271	86,033
At 31 March 2025	117,338	17,782	739,390	54,258	24,328	953,096
Depreciation
At 1 April 2024	52,108	14,461	388,251	33,020	20,051	507,891
Charge for the year on owned assets	4,694	1,661	97,719	3,827	524	108,425
At 31 March 2025	56,802	16,122	485,970	36,847	20,575	616,316
Net book value
At 31 March 2025	60,536	1,660	253,420	17,411	3,753	336,780
At 31 March 2024	65,230	3,321	289,061	554	1,006	359,172

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Debtors

					2025	2024
					£	£


Trade debtors	187,267	244,130
Amounts owed by group undertakings	1,085,253	1,161,577
Other debtors	1,930,969	1,662,778
Prepayments and accrued income	14,334	27,806
	3,217,823	3,096,291

Trade creditors	151,366	338,499
Corporation tax	113,542	-
Other taxation and social security	45,118	39,475
Other creditors	1,519,569	1,281,597
Accruals and deferred income	45,662	189,525
	1,875,257	1,849,096

7.	Prior year adjustment

The prior year figures have been restated in respect of errors found in the following area:
The creditors balance was overstated by £129,238 in the March 2024 accounts.

		As previously reported	Effect of adjustment	As restated 31 March 2024
		£	£	£


Creditors amounts falling due within 1 year	-	-	-
Creditors due within one year	1,978,334	(129,238)	1,849,096
Capital and reserves	-	-	-
Profit and loss account	1,574,970	129,238	1,704,208
	3,553,304	-	3,553,304

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PARK VIEW CARE HOME (IPSWICH) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Controlling party

The Company is a subsidiary of First Care Homes (Ipswich) Limited, a company registered in England and Wales. The address of First Care Homes (Ipswich) Limited's registered office is: 3000a Parkway, Whiteley, Hampshire, PO15 7FX.
The smallest and largest group in which the results of the Company are consolidated is that headed by First Care Homes (Ipswich) Limited.

9.	Auditor's information

The auditor's report on the financial statements for the year ended 31 March 2025 was unqualified.

The audit report was signed on 16 December 2025 by Andrew Galliers (FCA) (Senior Statutory Auditor) on behalf of Menzies LLP.

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