CCCH 3 MB Holdco Limited Group - Limited company accounts 20.1

COUNTRY COURT CARE HOMES 3

MB HOLDCO LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Page

Company Information

1

Group Strategic Report

2

to

4

Report of the Directors

5

to

6

Report of the Independent Auditors

7

to

8

Consolidated Income Statement

9

Consolidated Other Comprehensive Income

10

Consolidated Statement of Financial Position

11

Company Statement of Financial Position

12

Consolidated Statement of Changes in Equity

13

Company Statement of Changes in Equity

14

Notes to the Consolidated Financial Statements

15

to

22

DIRECTORS:

A Kachra

A A Kachra

A Kachra

REGISTERED OFFICE:

c/o Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

BUSINESS ADDRESS:

Millennium House

102 Dukesmead Industrial Estate

Werrington

Peterborough

Cambridgeshire

PE4 6ZN

REGISTERED NUMBER:

09814072 (England and Wales)

SENIOR STATUTORY AUDITOR:

Alistair Main FCA

AUDITORS:

Duncan & Toplis Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

The directors present their strategic report of the company and the group for the year ended 31 March 2020.

REVIEW OF BUSINESS

The business rebranded in the year ending 31 March 2019 to Country Court. Country Court was due to acquire 3 care homes in

London within the financial year but took place a few days after. Refurbishment work is planned in the upcoming financial year

ending March 2021. During the year construction work finished on 2 large extensions in London and Wisbech. Construction work

started on two new-build developments in Peterborough (80) and Spalding (60) both with completion due in the following financial

year. Refurbishment across the group continues with planned works to improve bedroom and communal spaces on a phased

programme to ensure every home within the group secures a long-term future and is able to provide a 'fit-for-purpose'

environment for residents to live in.

The year across care-based roles continued to be a challenge, however vacancies and staff turnover are declining as the

recruitment and retention becomes embedded across the organisation. 2020/21 is expected to show further improvements in this

area.

Within the year Country Court became part of the CQC Market Oversight system due to size and spread of the business. Country

Court ranks highly in compliance when benchmarked against competitors in the oversight program.

As part of the consolidation of debt from 2018 Country Court has funds to draw to complete one additional new-build development

and two large extensions, separate to those mentioned above. These are due to start in mid-2020.

Country Court has invested heavily in IT and telecoms systems this financial year. This ranges from in-home video calling facilities to

care management systems. There are a number of projects underway and more to start in 2020 to ensure the business has the

latest available technology.

Country Court disposed of two care homes within the year, one in Sheffield and one in Lincolnshire.

PRINCIPAL RISKS AND UNCERTAINTIES

Risks around data security remain at the forefront of Country Court's strategy. With the increasing amount of technology within the

group it is imperative that the business expands its cyber-security and data protection processes.

With political uncertainty resolved in the medium term the outlook for the business and sector is very positive as at the year end.

COVID-19

Shortly before the year end the UK entered a period of lockdown due to the Covid-19 pandemic. Covid-19 planning began in

February 2020 with the expected spread of coronavirus across the UK.

The main Covid-related risk to the business lies in outbreaks. Due to the nature of the virus residents within care homes are

considered high risk and therefore an outbreak could lead to significant loss of life if not identified early enough and managed

effectively once it has been established it is in the home.

Contingency planning were in 2 key areas: supply chain and staffing. Infection control practices across the group are strong and

expected to cope with outbreaks. With adequate staffing and supply chain Country Court is well placed to manage the Covid-19

crisis.

SECTION 172(1) STATEMENT

Stakeholder Engagement

As the Board at Country Court, we have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we

consider, in good faith, would be most likely to promote the company's success for the benefit of its members as a whole, and to

have regard to the long-term effect of our decisions on the company and its stakeholders. This statement addresses the ways in

which we as a Board outwork this responsibility.

How we work

Country Court was founded in 1983 by Roshan Bogha and current Chairman, Abdul Kachra. Today, Country Court operate 33 care

and nursing homes nationally, employing over 2300 staff and looking after 1500 residents, every person part of our family. Despite

having national coverage our aim is to have a strong local presence. Individual communities are what matter and we aspire to

embody this notion.

Over 36 years since our founding, Country Court is still a truly family business. Abdul's sons, Alykhan and Al-Karim, manage the day

to day running of the company, working alongside all our care teams to embrace and celebrate our values; to care for, entertain

and enable our residents to live the best life they can. We are proud of our heritage and culture, with the company philosophy "Our

family caring for yours" at the heart of every home.

We believe that care homes shouldn't be places of inactivity, they should represent the opening of a new chapter of life. The

opportunity to meet new friends, to socialise and experience an enjoyable life without unnecessary worry and with help on hand

whenever it is needed. Through the standard of our care and the homes we make for our residents, we aspire to provide the kind of

care every one of us would wish our loved ones to receive.

As we continue to grow as a business, we will remain family owned and run. We will continue to invest in our homes, offering

luxurious yet homely facilities for those who live with us, to accompany the high standards of care that every person receives.

Engaging with stakeholders

Our key stakeholders, and the ways in which we engage with them, are as follows:

Our employees

Recruitment and staff retention is a key part of any business and particularly critical in the care industry. We recognise that our staff are what makes our homes special and do everything we can to provide the best possible working environment for them. Nearly 25% of our staff have been with us 5 years or more and just over half of all our Home Managers, as well as all of our Area Operations Managers, have been promoted internally, showing the clear career progression available with us.

Some of the ways we help engage and motivate our staff include:

- Offer competitive pay investing in industry leading development and training for all staff

- providing open and welcoming environments in each of our homes

- offering clear career progression opportunities for those who want it

- taking on regular feedback from all staff departments to develop and improve our staff offerings

- Offer competitive pay rates and access to retailer discounts, reimbursement for Annual Nurse PIN registration cost and recommend a friend bonus scheme

Our customers and suppliers

Our residents come first at Country Court and everything we do as a business is to provide the best possible person-centred care for those who live with us.

Every resident who lives with us has an individual care plan, incorporating their life history, medical needs, care requirements and mental and physical wellbeing. This is updated daily via our electronic system, Nourish.

We recognise that each person is different, so it is important to take a personal approach for each resident, getting to know them and their families in order to understand their needs, preferences and wishes. This helps us take a holistic approach and deliver the best possible care, benefiting people both mentally and physically.

Our community

We are a family-run company with well-established community connections at our Head Office in Peterborough. Each of our homes are key parts of their local community, both in helping care for those who need it and establishing strong connections across a range of groups from local health care professionals to schools and interest groups. Each home regularly hosts local events and fundraisers, as well as reaching out to the vulnerable people in society through social meet ups or occasions such as 'Community Christmas Lunches'

We raise money for Charities both on a local and national level, including Alzheimer's Society, Age UK, Dementia UK and many more.

Our planet

We dispose of all waste in a responsible manner and strive to recycle where possible. We operate under strict regulations for the disposal of medical and clinical waste and follow the correct procedures for these at all times. We are regularly examining our supply chain to cut down on wastage and single use materials.

KEY PERFORMANCE INDICATORS

Country Court uses a number of KPIs to monitor the financial and non-financial performance of the business.

Care-related KPIs are strong with 32 care homes being rated as good by CQC and 1 requires improvement. This represents the

highest level of compliance of all the care groups within CQC Market Oversight.

The financial key performance indicators are a growth in turnover of 34.86% (2019: 45.6%), a gross profit margin of 46.46% (2019

42.00%) and a net profit margin before interest and one-off exceptional items of 32.90% (2019 21.84%).

ON BEHALF OF THE BOARD:

A Kachra - Director

14 September 2020

The directors present their report with the financial statements of the company and the group for the year ended 31 March 2020.

PRINCIPAL ACTIVITY

The principal activity of the group in the year under review was that of the management of care homes.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2020.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2019 to the date of this report.

A Kachra

A A Kachra

A Kachra

EMPLOYEES

Employee Involvement

The company keeps employees informed of company wide activities and changes through a monthly newsletter. The company

holds regular meetings with key representatives of all services whom raise issues from their respective service. All departments

across the group hold regular meetings with staff. We have regular staff surveys which has lead to the review of performance

related pay and other benefits and rewards.

Disabled Employees

Applications for employment by disabled persons are given full and fair consideration for all vacancies in accordance with their

particular aptitudes and abilities. Training, career development and promotion opportunities are available to all employees.

In the event of employees becoming disabled, the company would provide support and retraining (if necessary) to ensure their

employment with the company may continue.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in

accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have

elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United

Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements

unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or

loss of the group for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards 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 directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and

the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and

enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of

fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of

which the group's auditors are unaware, and each 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 group's auditors are aware of that information.

ON BEHALF OF THE BOARD:

A Kachra - Director

14 September 2020

Opinion

We have audited the financial statements of Country Court Care Homes 3 MB Holdco Limited (the 'parent company') and its

subsidiaries (the 'group') for the year ended 31 March 2020 which comprise the Consolidated Income Statement, Consolidated

Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial Position,

Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity and 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, including Financial Reporting Standard 102 'The Financial Reporting

Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2020 and of the group's profit 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 Auditors' responsibilities for the audit of the financial statements

section of our report. We are independent of the group 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

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

-

the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic

Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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 there is a material misstatement in the financial statements or a material

misstatement of the other information. 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 Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course

of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

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

opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' 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 Statement of Directors' Responsibilities set out on page five, the directors are 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 directors determine 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 directors are responsible for assessing the group's and the parent 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 directors either intend to liquidate the group or the parent company or to cease operations, or have no

realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's

website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

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 we are required to

state to them in a Report of the Auditors 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.

Alistair Main FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Limited, Statutory Auditor

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

14 September 2020

TURNOVER

3

21,161,395

15,691,920

Cost of sales

11,330,314

9,101,599

GROSS PROFIT

9,831,081

6,590,321

Administrative expenses

2,939,815

3,218,711

6,891,266

3,371,610

Other operating income

74,984

55,196

OPERATING PROFIT

5

6,966,250

3,426,806

Property impairment

6

(481,612

)

-

Impairment written back

6

1,206,953

-

Profit on sale of tangible

fixed assets

6

-

350,000

7,691,591

3,776,806

Interest payable and similar expenses

7

3,926

4,034,994

PROFIT/(LOSS) BEFORE TAXATION

7,687,665

(258,188

)

Tax on profit/(loss)

8

-

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

7,687,665

(258,188

)

Profit/(loss) attributable to:

Owners of the parent

7,687,665

(258,188

)

PROFIT/(LOSS) FOR THE YEAR

7,687,665

(258,188

)

OTHER COMPREHENSIVE INCOME

Property revaluation

10,692,193

-

Income tax relating to other comprehensive income

(3,101,532

)

-

OTHER COMPREHENSIVE INCOME FOR THE YEAR, NET OF INCOME TAX

7,590,661

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

15,278,326

(258,188

)

Total comprehensive income attributable to:

Owners of the parent

15,278,326

(258,188

)

FIXED ASSETS

Tangible assets

10

85,176,572

73,572,405

Investments

11

-

-

85,176,572

73,572,405

CURRENT ASSETS

Stocks

12

19,854

17,199

Debtors

13

7,093,875

4,304,544

Cash at bank

78,696

451,694

7,192,425

4,773,437

CREDITORS

Amounts falling due within one year

14

52,442,867

56,799,570

NET CURRENT LIABILITIES

(45,250,442

)

(52,026,133

)

TOTAL ASSETS LESS CURRENT LIABILITIES

39,926,130

21,546,272

PROVISIONS FOR LIABILITIES

17

7,925,277

4,823,745

NET ASSETS

32,000,853

16,722,527

CAPITAL AND RESERVES

Called up share capital

18

1

1

Revaluation reserve

19

32,484,409

24,893,748

Retained earnings

19

(483,557

)

(8,171,222

)

SHAREHOLDERS' FUNDS

32,000,853

16,722,527

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on

14 September 2020 and were signed on its behalf by:

A Kachra - Director

FIXED ASSETS

Tangible assets

10

-

-

Investments

11

1

1

1

1

CURRENT ASSETS

Debtors

13

1

1

CREDITORS

Amounts falling due within one year

14

1

1

NET CURRENT LIABILITIES

-

-

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

18

1

1

SHAREHOLDERS' FUNDS

1

1

Company's profit for the financial year

-

-

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 14 September 2020 and were signed on its behalf by:

A Kachra - Director

Called up

share

Retained

Revaluation

Total

capital

earnings

reserve

equity

£

£

£

£

Balance at 1 April 2018

1

(7,913,034

)

24,893,748

16,980,715

Changes in equity

Total comprehensive income

-

(258,188

)

-

(258,188

)

Balance at 31 March 2019

1

(8,171,222

)

24,893,748

16,722,527

Changes in equity

Total comprehensive income

-

7,687,665

7,590,661

15,278,326

Balance at 31 March 2020

1

(483,557

)

32,484,409

32,000,853

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 April 2018

1

-

1

Changes in equity

Balance at 31 March 2019

1

-

1

Changes in equity

Balance at 31 March 2020

1

-

1

1.	STATUTORY INFORMATION

Country Court Care Homes 3 MB Holdco Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the General Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been 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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Financial Reporting Standard 102 - reduced disclosure exemptions

The group has taken advantage of the following disclosure exemptions in preparing these financial statements, as

permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

•

the requirements of Section 7 Statement of Cash Flows;

•

the requirements of Section 11 Financial Instruments paragraphs 11.41(b), 11.41(c), 11.41(e), 11.41(f), 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);

•

the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A;

•

the requirement of Section 33 Related Party Disclosures paragraph 33.7.

The company has taken advantage of these exemptions under FRS 102 as the ultimate parent company Kachra Holdings

Limited prepares consolidated accounts. A copy of these accounts can be obtained at Companies House.

Basis of consolidation

The financial statements consolidate the accounts of Country Court Care Homes 3 MB Holdco Limited and all of its

subsidiary undertakings.

Turnover

Turnover comprises revenue recognised by the group in respect of goods and services supplied during the year. Revenue is

recognised in the period in which it is earned and comprises resident fees and other ancillary services.

Tangible fixed assets

Tangible assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated

impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is not charged on freehold property due to the high residual value expected and rolling refurbishment

programme. Depreciation on other tangible fixed assets is provided at rates calculated to write off the cost of those assets,

less their estimated residual value, over their expected lives on the following bases.

Freehold property

Nil

Fixtures and Fittings

25% reducing balance

Motor vehicles

25% reducing balance

The directors consider the values shown in the accounts to fairly reflect the current value of the homes as required by

FRS102 Section 17. Homes are shown in the accounts at the latest available valuation carried out by the directors. As per

FRS102 Section 17 revaluations will be carried out with sufficient regularity such as to ensure that the asset's carrying

amount in the statement of financial position does not materially differ from its fair value at the statement of financial

position date.

In accordance with FRS102 Section 17, properties are valued using their existing use value, which is the value as fully

equipped operational entities having regard to their trading potential.

Any changes to the existing use value are taken to the revaluation reserve within the statement of other comprehensive

income unless they are considered permanent and are below cost when they are taken to the profit and loss account.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due

allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are

charged to the income statement in the period which they relate.

Going concern

Based on a review of financial model forecasts and budgets the directors have formed a judgement at the time of

approving these financial statements that the group will have sufficient resources to continue in existence for the

foreseeable future.

The directors acknowledge that the statement of financial position shows net current liabilities due to costs incurred in the

initial period of building and opening new care homes. The directors consider it is appropriate to prepare these accounts on

a going concern basis.

Covid 19

At the date these financial statements were approved, Country Court has experienced a 5% loss in revenue due to Covid-19

and increased costs. The pandemic is easing and Country Court remain vigilant due to the expectation of a potential second

wave of infections. The group remains cash positive and profitable despite the difficulties being experienced and therefore

there is no material uncertainty over the use of the going concern assumption.

3.

TURNOVER

The turnover and profit (2019 - loss) before taxation are attributable to the one principal activity of the group.

4.	EMPLOYEES AND DIRECTORS

2020

2019

£

£

Wages and salaries

9,631,725

7,452,538

Social security costs

692,992

565,055

Other pension costs

152,176

94,069

10,476,893

8,111,662

The average number of employees during the year was as follows:

2020

2019

Management

8

10

Administration

23

19

Nursing staff, care assistants and other

559

419

590

448

2020

2019

£

£

Directors' remuneration

-

-

5.	OPERATING PROFIT

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

2020

2019

£

£

Hire of plant and machinery

58,886

55,160

Other operating leases

26,665

-

Depreciation - owned assets

410,839

358,441

Depreciation - assets on hire purchase contracts

-

3,307

Profit on disposal of fixed assets

(4,571

)

-

Auditors' remuneration

20,320

19,699

Auditors' remuneration for non audit work

5,960

24,779

6.	EXCEPTIONAL ITEMS

2020

2019

£

£

Property impairment

(481,612

)

-

Impairment written back

1,206,953

-

Profit on sale of tangible

fixed assets

-

350,000

725,341

350,000

7.

INTEREST PAYABLE AND SIMILAR EXPENSES

2020

2019

£

£

Bank interest

3,926

157

Loan interest

-

4,034,837

3,926

4,034,994

8.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose for the year ended 31 March 2020 nor for the year ended 31 March 2019.