Rochmills (Holdings) Ltd Group accounts (Group and Company)

ROCHMILLS (HOLDINGS) LIMITED - Company Information

251 true false false true true false false false false false false true false false 2021-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 10 2 25 2,240,083 481,369 224,008 705,377 1,534,706 1,758,714 332,841 5,000 337,841 133,869 49,847 183,716 154,125 198,972 1,440 1,440 1,440 1,869,563 1,827,092 974,500 4,671,155 0.01 85,850 85,850 xbrli:pure xbrli:shares iso4217:GBP 09962909 2021-01-01 2021-12-31 09962909 2021-12-31 09962909 2020-12-31 09962909 2020-01-01 2020-12-31 09962909 2020-12-31 09962909 bus:Consolidated 2021-01-01 2021-12-31 09962909 core:NetGoodwill 2021-01-01 2021-12-31 09962909 bus:Consolidated core:NetGoodwill 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary1 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary2 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary3 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary4 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary5 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary6 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary7 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary8 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary9 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary10 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Subsidiary11 2021-01-01 2021-12-31 09962909 core:LandBuildings core:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 09962909 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 09962909 core:MotorVehicles 2021-01-01 2021-12-31 09962909 bus:Consolidated core:MotorVehicles 2021-01-01 2021-12-31 09962909 bus:RegisteredOffice 2021-01-01 2021-12-31 09962909 bus:OrdinaryShareClass1 2021-01-01 2021-12-31 09962909 bus:Consolidated bus:OrdinaryShareClass1 2021-01-01 2021-12-31 09962909 bus:LeadAgentIfApplicable 2021-01-01 2021-12-31 09962909 bus:Consolidated bus:LeadAgentIfApplicable 2021-01-01 2021-12-31 09962909 bus:Director1 2021-01-01 2021-12-31 09962909 bus:Director3 2021-01-01 2021-12-31 09962909 bus:Director4 2021-01-01 2021-12-31 09962909 bus:Consolidated 2021-12-31 09962909 bus:Consolidated core:WithinOneYear 2021-12-31 09962909 bus:Consolidated core:WithinOneYear 2020-12-31 09962909 core:WithinOneYear 2021-12-31 09962909 core:WithinOneYear 2020-12-31 09962909 bus:Consolidated 2020-12-31 09962909 bus:Consolidated core:NetGoodwill 2020-12-31 09962909 bus:Consolidated core:NetGoodwill 2021-12-31 09962909 bus:Consolidated core:LandBuildings 2020-12-31 09962909 bus:Consolidated core:PlantMachinery 2020-12-31 09962909 bus:Consolidated core:FurnitureFittings 2020-12-31 09962909 bus:Consolidated core:MotorVehicles 2020-12-31 09962909 bus:Consolidated core:LandBuildings 2021-12-31 09962909 bus:Consolidated core:PlantMachinery 2021-12-31 09962909 bus:Consolidated core:FurnitureFittings 2021-12-31 09962909 bus:Consolidated core:MotorVehicles 2021-12-31 09962909 core:MotorVehicles 2020-12-31 09962909 core:MotorVehicles 2021-12-31 09962909 bus:Consolidated core:DeferredTaxation 2021-01-01 2021-12-31 09962909 bus:Consolidated core:LandBuildings 2021-01-01 2021-12-31 09962909 bus:Consolidated core:PlantMachinery 2021-01-01 2021-12-31 09962909 bus:Consolidated core:FurnitureFittings 2021-01-01 2021-12-31 09962909 bus:Consolidated 2020-01-01 2020-12-31 09962909 bus:Consolidated 2020-12-31 09962909 core:AfterOneYear bus:Consolidated 2021-12-31 09962909 core:AfterOneYear bus:Consolidated 2020-12-31 09962909 core:AfterOneYear 2021-12-31 09962909 core:AfterOneYear 2020-12-31 09962909 bus:Consolidated core:RevaluationReserve 2020-01-01 2020-12-31 09962909 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 09962909 bus:Consolidated core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2020-01-01 2020-12-31 09962909 bus:Consolidated core:Non-controllingInterests 2020-01-01 2020-12-31 09962909 bus:Consolidated core:RevaluationReserve 2021-01-01 2021-12-31 09962909 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 09962909 bus:Consolidated core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-01-01 2021-12-31 09962909 bus:Consolidated core:Non-controllingInterests 2021-01-01 2021-12-31 09962909 core:RetainedEarningsAccumulatedLosses 2020-01-01 2020-12-31 09962909 core:RetainedEarningsAccumulatedLosses 2021-01-01 2021-12-31 09962909 bus:Consolidated core:UKTax 2021-01-01 2021-12-31 09962909 bus:Consolidated core:UKTax 2020-01-01 2020-12-31 09962909 bus:Consolidated core:ShareCapital 2021-12-31 09962909 bus:Consolidated core:ShareCapital 2020-12-31 09962909 bus:Consolidated core:RevaluationReserve 2021-12-31 09962909 bus:Consolidated core:RevaluationReserve 2020-12-31 09962909 bus:Consolidated core:OtherReservesSubtotal 2021-12-31 09962909 bus:Consolidated core:OtherReservesSubtotal 2020-12-31 09962909 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2021-12-31 09962909 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2020-12-31 09962909 bus:Consolidated core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-12-31 09962909 bus:Consolidated core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2020-12-31 09962909 bus:Consolidated core:Non-controllingInterests 2021-12-31 09962909 bus:Consolidated core:Non-controllingInterests 2020-12-31 09962909 core:ShareCapital 2021-12-31 09962909 core:ShareCapital 2020-12-31 09962909 core:RetainedEarningsAccumulatedLosses 2021-12-31 09962909 core:RetainedEarningsAccumulatedLosses 2020-12-31 09962909 bus:Consolidated core:ShareCapital 2019-12-31 09962909 bus:Consolidated core:RevaluationReserve 2019-12-31 09962909 bus:Consolidated core:OtherReservesSubtotal 2019-12-31 09962909 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2019-12-31 09962909 bus:Consolidated core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2019-12-31 09962909 bus:Consolidated core:Non-controllingInterests 2019-12-31 09962909 bus:Consolidated core:RestatedAmount 2019-12-31 09962909 bus:Consolidated core:RestatedAmount 2020-12-31 09962909 core:ShareCapital 2019-12-31 09962909 core:RetainedEarningsAccumulatedLosses 2019-12-31 09962909 core:RestatedAmount 2019-12-31 09962909 core:RestatedAmount 2020-12-31 09962909 core:BetweenOneFiveYears bus:Consolidated 2021-12-31 09962909 core:BetweenOneFiveYears bus:Consolidated 2020-12-31 09962909 bus:Consolidated core:MoreThanFiveYears 2021-12-31 09962909 bus:Consolidated core:MoreThanFiveYears 2020-12-31 09962909 bus:Consolidated core:NetGoodwill 2020-12-31 09962909 core:CostValuation core:Non-currentFinancialInstruments 2021-12-31 09962909 core:Non-currentFinancialInstruments 2021-12-31 09962909 core:Non-currentFinancialInstruments 2020-12-31 09962909 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2021-12-31 09962909 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2020-12-31 09962909 bus:Consolidated core:RevaluationPropertyPlantEquipmentDeferredTax 2021-12-31 09962909 bus:Consolidated core:RevaluationPropertyPlantEquipmentDeferredTax 2020-12-31 09962909 bus:Consolidated core:RevaluationInvestmentPropertyDeferredTax 2021-12-31 09962909 bus:Consolidated core:RevaluationInvestmentPropertyDeferredTax 2020-12-31 09962909 bus:Consolidated core:LandBuildings 2020-12-31 09962909 bus:Consolidated core:PlantMachinery 2020-12-31 09962909 bus:Consolidated core:FurnitureFittings 2020-12-31 09962909 bus:Consolidated core:MotorVehicles 2020-12-31 09962909 core:MotorVehicles 2020-12-31 09962909 bus:Consolidated core:DeferredTaxation 2020-12-31 09962909 bus:Consolidated core:DeferredTaxation 2021-12-31 09962909 bus:Consolidated bus:LeadAgentIfApplicable 2020-01-01 2020-12-31 09962909 bus:SmallEntities 2021-01-01 2021-12-31 09962909 bus:Audited 2021-01-01 2021-12-31 09962909 bus:FullAccounts 2021-01-01 2021-12-31 09962909 bus:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 09962909 bus:OrdinaryShareClass1 2021-12-31 09962909 bus:Consolidated bus:OrdinaryShareClass1 2021-12-31 09962909 bus:OrdinaryShareClass1 2020-12-31 09962909 bus:Consolidated bus:OrdinaryShareClass1 2020-12-31 09962909 1 bus:Consolidated 2021-01-01 2021-12-31 09962909 2 bus:Consolidated 2020-01-01 2020-12-31

COMPANY REGISTRATION NUMBER: 09962909

Rochmills (Holdings) Ltd

Financial Statements

For the year ending

31 December 2021

Rochmills (Holdings) Ltd

Financial Statements

Year ended 31 December 2021

Contents	Page

Officers and professional advisers	1

Strategic report	2

Directors' report	5

Independent auditor's report to the members	8

Consolidated statement of comprehensive income	12

Consolidated statement of financial position	13

Company statement of financial position	14

Consolidated statement of changes in equity	15

Company statement of changes in equity	16

Consolidated statement of cash flows	17

Notes to the financial statements	18

Rochmills (Holdings) Ltd

Officers and Professional Advisers

The board of directors	J S Sehmi
	T P Sehmi
	K U Sehmi

Registered office	Burlington House
	369 Wellinborough Road
	Northampton
	NN1 4EU

Auditor	Streets
	Chartered Accountants & statutory auditor
	Enterprise House
	38 Tyndall Court
	Commerce Road
	Lynch Wood
	Peterborough
	Cambs
	PE2 6LR

Rochmills (Holdings) Ltd

Strategic Report

Year ended 31 December 2021

The principal activities continue to be the provision of care homes, property services and operation of a garden centre . The operational activity of Rochmills (Holdings) Limited was affected by the pandemic but despite this the group has seen an increase in turnover due to the relaxation of restrictions throughout the year (£8.96m compared to £8.29m in 2020). A tighter control on costs and reduced property construction activity has resulted in an overall group pre tax profit of £537k compared to £68K in 2020. At the year end date the group had gross assets of £41.6m (2020 - £33.3m) and net assets of £19.4m (2020 - £13.1m). The Group has continued to support Midland Care Home Limited whilst we implement and embed the clinical and other necessary changes needed to ensure that the operation improves, which will in turn increase occupancy and turnover. Looking to the other parts of the group, Burlington Court Care Home Limited continued to perform extremely well. The home remained fully compliant during the period, and retained its' status as an "outstanding" care home. The Property portfolio continued to perform in line with expectations, with the garden centre also seeing an improvement in trade. S172 Statement The Board of Directors, both individually and collectively, have continued to act in a manner which they consider, in good faith, would be most likely to promote the ongoing success of the Company for the benefit of its members as a whole, as required by S172 Companies Act 2006. In doing so they have, amongst other matters, given regard to the following: - The likely long-term consequences of any decisions - The interests of the Company's employees - The need to foster the Company's relationships with its customers, suppliers, and others - The impact of the Company's operations on both the community and the environment - The desirability of maintaining the Company's reputation for high standards of business conduct, and - The need to act fairly between members of the Company. During the year under review, the Board's focus was on achieving three principal objectives, each of which was intended to further the interests of the Company's shareholders. These objectives were: - To protect and preserve the business - To keep our residents and staff safe and well during the pandemic - To improve the operational efficiency and commercial performance of the business To protect and preserve the business At the start of the financial year, the Board's priority was maintaining and improving the performance of the Group as a whole with specific regard to improving the performance of Midland Care Home. During the second quarter the first wave of the coronavirus pandemic was unfolding, which had a significant effect on all businesses and care homes in particular. PPE was not easily available, vaccines had not yet been developed, the Government had placed the entire country into lock-down and no one could foresee how the pandemic would progress. The Board's priority was to protect the business which it did as swiftly as possible. Measures that the Board took included: - Taking actions to protect the staff and residents of the care homes - Protecting occupancy levels in the property portfolio and maintaining rent levels - Establishing an online shopping platform at the garden centre business to protect employee jobs and provide a revenue stream for the GC business during lockdown. At the start of the pandemic the Group implemented the Emergency Plan and produced a supplemental COVID-19 addendum to further protect the care home staff and residents. Measures that the Board took included: - Introduced an early 'lockdown' of the care homes to reduce risk - Brought in enhanced infection control procedures - Sourced a shipment of PPE from abroad to ensure that adequate stocks were maintained - Made arrangements for relatives to have online contact with family members safely To improve the operational efficiency and commercial performance of the business Whilst the main focus of the Board during the year was safeguarding the Group in the face of the pandemic as detailed above, the Board continued to look at improving the operational efficiency and commercial performance of the business. Measures that the Board took included: - Brought in a new management team at Midland Care Home, which improved the business performance. - Worked with new and existing suppliers to maintain competitive pricing during challenging times. - Progressed a scheme for a new care home in Woburn Sands. Current objectives In the 2022 financial year, the Board is focuses on the following areas: To improve the operational efficiency and commercial performance of the business, to promote the Group's profile and online presence to increase occupancy and maintain the Group's reputation and to grow the business Future Risks The future risks affecting the Group relate to the inherent risks in operating care homes. The needs of our residents will continue to grow and change, particularly with the inclusion of a nursing home within the Group. The Group will have to continue to increase resources, to deliver the exceptional person-centred care that our residents require, and this in turn carries an increased financial burden for the company, without any guarantee of additional revenue. The uncertainties surrounding Brexit continue to be a concern for not only the Group, but the industry as a whole. The Group has assessed the potential risks of a change in the labour market following Brexit and are implementing plans to mitigate against the risk, including becoming a Licence Sponsor with the Home Office. Risks The group uses financial instruments, other than derivatives, comprising borrowings, cash and other liquid resources and various other items such as trade debtors and creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the group's operations. The main risks arising from the group's financial instruments are interest rate risk and liquidity risk. The directors review and agree policies for managing each of these risks and they are summarised below. The policies have remained unchanged from previous years. Interest rate risk The group finances its operations through a mixture of retained profits, bank borrowings and hire purchase agreements. The groups exposure to interest rate fluctuations on its borrowings is managed by the use of both fixed and floating facilities. Liquidity risk The group seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs and to invest cash assets safely and profitably. Primarily this is achieved through loans. Short term flexibility is achieved by overdraft facilities. Covid-19 During 2021 the UK continued to experience a pandemic of Coronavirus with the UK government implementing and removing vary restrictions throughout the year. This has, and continues to, affect the way the group operates and the markets it operates in. The group have and continue to make appropriate adjustments in terms of how it operates and to protect its clients, customers and employees. The UK Government is providing a package of financial support to protect companies and these are being accessed as is necessary. Budgets, forecasts and management information are being regularly reviewed and updated by the directors to ensure the group can react quickly to the uncertainties and risks the virus is causing. The directors are in regular contact with the group's lenders to ensure the group's cashflow requirements are in place. The directors are also mindful of the specific operational challenges the group has experienced with increased PPE requirements and staffing challenges within our homes. The directors are especially grateful to the work of our colleagues in these unique times. Finally, the directors are mindful of the significant ongoing support being offered by the Government and taking advantage of these where necessary. Accordingly the financial statements have been prepared on a going concern basis.

This report was approved by the board of directors on 13 December 2022 and signed on behalf of the board by:

K U Sehmi

Director

Registered office:

Burlington House

369 Wellinborough Road

Northampton

NN1 4EU

Rochmills (Holdings) Ltd

Directors' Report

Year ended 31 December 2021

The directors present their report and the financial statements of the group for the year ended 31 December 2021 .

Directors

The directors who served the company during the year were as follows:

J S Sehmi
T P Sehmi
K U Sehmi

Dividends

The directors do not recommend the payment of a dividend.

Greenhouse gas emissions and energy consumption

	Unit	2021
Emissions resulting from activities for which the group is responsible	tCO2e	476
Emissions resulting from the purchase of electricity by the group for its own use	tCO2e	138
		----
Total emissions	tCO2e	614
Total energy consumption	kWh	2,361,884
Intensity metric - Non-care tCo2 per sqm		0.04
Intensity metric -Care - tCo2 per head		1.69
		------------

Methodologies for energy and emissions calculations

This is the second report for the Rochmills Group.

It is to be noted that the energy use and associated carbon impact continued to be reduced during 2021 due to the COVID-19 pandemic, and associated closures of the hospitality section of the retail sector and reduced usage in the office building. For this reason, we have not compared against the previous year, as we are still to establish a base year to compare with.

The usage has been assessed for the entire group, and the following methodology was used:

Gas

Actual usage was taken from supplier bills to give the kWh used and a rate of 0.20258 (2020 - 0.20336) has been applied.

Electricity

Actual usage was taken from supplier bills to give the kWh used and a rate of 0.21016 (2020 - 0.23104) has been applied.

Fuels

Mileage: for mileage claims the claim was divided by 45pence to establish the number of miles, and the number of miles was multiplied by the relevant rate based upon type and fuel.

Diesel: Diesel purchases were checked for the actual number of litres purchased, this was multiplied by 0.24792 (2020 divided by a rate of £1.2 per litre; this was multiplied by 2.51072).

EV charging: Actual usage was taken from supplier bills to give the kWh used and a rate of 0.21016 (2020 - 0.23104) has been applied.

LPG: Cylinder size has been multiplied by 1.96 to convert to litres. Number of cylinders multiplied by number of litres has been calculated; this was multiplied by 1.5414 (2020 - 1.55325).

Carriage: Cost of carriage was divided by £3 per mile; this was multiplied by 1.4021 (2020 - 1.56552).

Intensity Ratio

For the intensity ratios we have split the business into two sectors - care and non-care. For non-care we have calculated the impact per built SQM and for care we have calculated the impact by bed space.

Principal measures taken to increase energy efficiency

The group continues to implement the following energy efficiency actions in the year;

- Replaced one of the boilers in Burlington House with a new more energy efficient boiler

- Moved fleet vehicles from diesel to EV where possible

- Introduced HF ballasts for fluorescent tubes

- Replaced lights with LED fittings

- Installed PIRs in cupboards, store rooms and toilets where possible.

Employment of disabled persons

Full and fair consideration is given to the employment of disabled persons having regard to their particular aptitudes and abilities. Appropriate training is provided for disabled persons and this includes retraining for alternative work of employees who become disabled.

Employee involvement

The group places considerable value on the involvement of its employees and keeps them informed on matters affecting them as employees and on the various factors affecting the performance of the group. This is achieved through formal and informal meetings and social activities.

Disclosure of information in the strategic report

The company has chosen to set out in the strategic report information about the future developments of the company and the financial instruments.

Directors' responsibilities statement

The directors are responsible for preparing the strategic report, directors' report 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 group and the company and 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 judgments and accounting estimates that are reasonable and prudent; - 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 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. They are 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. Auditor

Each of the persons who is a director at the date of approval of this report confirms that:

- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

This report was approved by the board of directors on 13 December 2022 and signed on behalf of the board by:

K U Sehmi

Director

Registered office:

Burlington House

369 Wellinborough Road

Northampton

NN1 4EU

Rochmills (Holdings) Ltd

Independent Auditor's Report to the Members of Rochmills (Holdings) Ltd

Year ended 31 December 2021

Opinion

We have audited the financial statements of Rochmills (Holdings) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2021 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, 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 FRS 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's affairs as at 31 December 2021 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - 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 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

In auditing the financial statements, we have concluded that the directors' 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 group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors 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 annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. 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 strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the strategic report and the directors' report 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 strategic report or the directors' 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 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 directors' responsibilities statement, 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 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 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.

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: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: - the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; - we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company and sector in which it operates; - we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation, Care Home legislation and health and safety legislation; - we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and - identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: - making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and - considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations. To address the risk of fraud through management bias and override of controls, we: - performed analytical procedures to identify any unusual or unexpected relationships; - tested journal entries to identify unusual transactions; - assessed whether judgements and assumptions made in determining the accounting estimates set out in Note 3 were indicative of potential bias; and - investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: - agreeing financial statement disclosures to underlying supporting documentation; - reading the minutes of meetings of those charged with governance; - inquiring of management as to actual and potential litigation and claims; and - reviewing correspondence with HMRC, relevant regulators and the company's legal advisors. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to inquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 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 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 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.

Jonathan Day

(Senior Statutory Auditor)

For and on behalf of

Streets

Chartered Accountants & statutory auditor

Enterprise House

38 Tyndall Court

Commerce Road

Lynch Wood

Peterborough

Cambs

PE2 6LR

14 December 2022

Rochmills (Holdings) Ltd

Consolidated Statement of Comprehensive Income

Year ended 31 December 2021

		2021	2020
Note		£	£
Turnover	4	8,961,762	8,286,539

Cost of sales	5,591,451	5,260,647
	------------	------------
Gross profit	3,370,311	3,025,892

Administrative expenses		2,764,800	2,768,302
Other operating income	5	376,230	308,367
		------------	------------
Operating profit	6	981,741	565,957

Other interest receivable and similar income	10	18,679	11,218
Interest payable and similar expenses	11	463,533	509,236
		------------	------------
Profit before taxation		536,887	67,939

Tax on profit	12	306,718	138,717
		---------	---------
Profit/(loss) for the financial year		230,169	( 70,778)
		---------	---------

Revaluation of tangible assets	8,738,000	355,500
Reclassification from revaluation reserve to profit and loss account	( 15,813)	–
Tax relating to components of other comprehensive income	( 2,701,715)	( 11,048)
	------------	---------
Other comprehensive income for the year	6,020,472	344,452
	------------	---------
Total comprehensive income for the year	6,250,641	273,674
	------------	---------

Profit for the financial year attributable to:

The owners of the parent company	226,356	( 75,690)
Non-controlling interests	3,813	4,912
	---------	--------
	230,169	( 70,778)
	---------	--------

Total comprehensive income for the year attributable to:

The owners of the parent company	6,246,828	268,762
Non-controlling interests	3,813	4,912
	------------	---------
	6,250,641	273,674
	------------	---------

All the activities of the group are from continuing operations.

Rochmills (Holdings) Ltd

Consolidated Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Intangible assets	13	1,534,706	1,758,714
Tangible assets	14	38,155,625	29,394,644
		-------------	-------------
		39,690,331	31,153,358

Current assets

Stocks	16	497,466	381,331
Debtors	17	958,615	1,649,470
Cash at bank and in hand		488,972	140,639
		------------	------------
		1,945,053	2,171,440

Creditors: amounts falling due within one year	18	11,496,960		10,223,347
		-------------		-------------
Net current liabilities			9,551,907	8,051,907
			-------------	-------------
Total assets less current liabilities			30,138,424	23,101,451

Creditors: amounts falling due after more than one year	19		6,108,233	8,123,493

Provisions

Taxation including deferred tax	21	4,671,155	1,869,563
		-------------	-------------
Net assets		19,359,036	13,108,395
		-------------	-------------

Capital and reserves

Called up share capital	25	859	859
Revaluation reserve	26	10,845,608	5,291,089
Merger reserve	26	7,473,351	7,473,351
Profit and loss account	26	1,034,958	342,649
		-------------	-------------
Equity attributable to the owners of the parent company		19,354,776	13,107,948

Non-controlling interests	4,260	447
	-------------	-------------
	19,359,036	13,108,395
	-------------	-------------

These financial statements were approved by the board of directors and authorised for issue on 13 December 2022 , and are signed on behalf of the board by:

K U Sehmi

Director

Company registration number: 09962909

Rochmills (Holdings) Ltd

Company Statement of Financial Position

31 December 2021

	2021	2020
Note	£	£

Fixed assets

Tangible assets	14	154,125	198,972
Investments	15	1,440	1,440
		---------	---------
		155,565	200,412

Current assets

Debtors	17	2,023,831	1,975,405
Cash at bank and in hand		6,398	96
		------------	------------
		2,030,229	1,975,501

Creditors: amounts falling due within one year	18	1,302,409		989,677
		------------		------------
Net current assets			727,820	985,824
			---------	------------
Total assets less current liabilities			883,385	1,186,236

Creditors: amounts falling due after more than one year	19	37,854	76,649
		---------	------------
Net assets		845,531	1,109,587
		---------	------------

Capital and reserves

Called up share capital	25	859	859
Profit and loss account	26	844,672	1,108,728
		---------	------------
Shareholders funds		845,531	1,109,587
		---------	------------

The loss for the financial year of the parent company was £ 264,056 (2020: £ 82,535 ).

These financial statements were approved by the board of directors and authorised for issue on 13 December 2022 , and are signed on behalf of the board by:

K U Sehmi

Director

Company registration number: 09962909

Rochmills (Holdings) Ltd

Consolidated Statement of Changes in Equity

Year ended 31 December 2021

			Called up share capital	Revaluation reserve	Merger reserve	Profit and loss account	Equity attributable to the owners of the parent company	Non-controlling interests	Total
Note			£	£	£	£	£	£	£
At 1 January 2020			859	5,745,117	7,473,351	( 380,141)	12,839,186	( 4,465)	12,834,721

Loss for the year						( 75,690)	( 75,690)	4,912	( 70,778)
Other comprehensive income for the year:
	Revaluation of tangible assets	14	–	355,500	–	–	355,500	–	355,500
	Reclassification from revaluation reserve to profit and loss account		–	( 798,480)	–	798,480	–	–	–
	Tax relating to components of other comprehensive income	12	–	( 11,048)	–	–	( 11,048)	–	( 11,048)
			----	------------	------------	---------	-------------	-------	-------------
Total comprehensive income for the year			–	( 454,028)	–	722,790	268,762	4,912	273,674

At 31 December 2020			859	5,291,089	7,473,351	342,649	13,107,948	447	13,108,395

Profit for the year						226,356	226,356	3,813	230,169
Other comprehensive income for the year:
	Revaluation of tangible assets	14	–	8,738,000	–	–	8,738,000	–	8,738,000
	Reclassification from revaluation reserve to profit and loss account		–	( 481,766)	–	465,953	( 15,813)	–	( 15,813)
	Tax relating to components of other comprehensive income	12	–	( 2,701,715)	–	–	( 2,701,715)	–	( 2,701,715)
			----	------------	------------	---------	-------------	-------	-------------
Total comprehensive income for the year			–	5,554,519	–	692,309	6,246,828	3,813	6,250,641

			----	-------------	------------	------------	-------------	-------	-------------
At 31 December 2021			859	10,845,608	7,473,351	1,034,958	19,354,776	4,260	19,359,036
			----	-------------	------------	------------	-------------	-------	-------------

Rochmills (Holdings) Ltd

Company Statement of Changes in Equity

Year ended 31 December 2021

	Called up share capital	Profit and loss account	Total
	£	£	£
At 1 January 2020	859	1,191,263	1,192,122

Loss for the year		( 82,535)	( 82,535)
	----	------------	------------
Total comprehensive income for the year	–	( 82,535)	( 82,535)

At 31 December 2020	859	1,108,728	1,109,587

Loss for the year		( 264,056)	( 264,056)
	----	------------	------------
Total comprehensive income for the year	–	( 264,056)	( 264,056)

	----	------------	------------
At 31 December 2021	859	844,672	845,531
	----	------------	------------

Rochmills (Holdings) Ltd

Consolidated Statement of Cash Flows

Year ended 31 December 2021

	2021	2020
	£	£

Cash flows from operating activities

Profit/(loss) for the financial year	230,169	( 70,778)

Adjustments for:
Depreciation of tangible assets	595,837	594,916
Amortisation of intangible assets	224,008	224,008
Fair value adjustment of investment property	–	( 120,000)
Government grant income	( 376,230)	( 308,367)
Other interest receivable and similar income	( 18,679)	( 11,218)
Interest payable and similar expenses	463,533	509,236
Loss/(gains) on disposal of tangible assets	4,271	( 50,448)
Tax on loss	306,718	138,717
Accrued (income)/expenses	( 460,029)	334,957

Changes in:
Stocks	( 116,135)	( 60,647)
Trade and other debtors	690,855	( 309,649)
Trade and other creditors	865,985	71,873
	------------	---------
Cash generated from operations	2,410,303	942,600

Interest paid	( 463,533)	( 509,236)
Interest received	18,679	11,218
Tax paid	( 222,654)	( 81,434)
	------------	---------
Net cash from operating activities	1,742,795	363,148
	------------	---------

Cash flows from investing activities

Purchase of tangible assets	( 623,089)	( 62,360)
Proceeds from sale of tangible assets	–	51,000
	------------	---------
Net cash used in investing activities	( 623,089)	( 11,360)
	------------	---------

Cash flows from financing activities

Proceeds from borrowings	( 1,066,173)	( 411,893)
Government grant income	376,230	308,367
Payments of finance lease liabilities	( 81,430)	( 81,430)
	------------	---------
Net cash used in financing activities	( 771,373)	( 184,956)
	------------	---------

Net increase in cash and cash equivalents	348,333	166,832
Cash and cash equivalents at beginning of year	140,639	(26,193)
	---------	---------
Cash and cash equivalents at end of year	488,972	140,639
	---------	---------

Rochmills (Holdings) Ltd

Notes to the Financial Statements

Year ended 31 December 2021

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Burlington House, 369 Wellinborough Road, Northampton, NN1 4EU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through the consolidated statement of comprehensive income. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

During 2021 the UK continued to experience a pandemic of the coronavirus. This continued to affected the way the group operated and the markets it operated in. The group has made appropriate adjustments in terms of how it operates and to protect its clients, customers and employees. The UK Government has provided financial support to protect companies and this support has been accessed as is necessary. Budgets, forecasts and management information are being regularly reviewed and updated by the directors to ensure the group can react quickly to the uncertainties and risks the virus is causing. The directors are in regular contact with the group's lenders to ensure the group's cashflow requirements are in place. The directors are also mindful of the specific operational challenges the group has experienced with increased PPE requirements and staffing challenges within our homes. The directors are especially grateful to the work of our colleagues in these unique times. Finally, the directors are mindful of the significant support being offered by the Government and taking advantage of these where necessary. Accordingly the financial statements have been prepared on a going concern basis.

Consolidation

The financial statements consolidate the financial statements of the Group and all of its subsidiary undertakings. The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes. The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not included its individual statement of comprehensive income. The consolidated accounts have been prepared using the merger accounting method.

Non-controlling interests

Minority interests in the net assets of consolidated subsidiaries are identified separately from the Group’s equity. Minority interests consist of the amount of those interests at the date of the original business combination and the minority’s share of changes in equity since the date of the combination.

The proportions of profit or loss and changes in equity allocated to the owners of the parent and to the minority interests are determined on the basis of existing ownership interests and do not reflect the possible exercise or conversion of options or convertible instruments.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as disclosed in the financial statements. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: Property revaluation The Properties owned have been revalued in the current and in previous years using the services of a professional valuer. Where an external valuer has not been used at the year end, the directors will use their own expertise in determining the closing value of the property. Judgement is made in respect of the condition and longevity of the properties to determine this valuation. Property classification The properties are classified between property, plant and equipment and between investment property. When deciding the appropriate classification the directors consider the use of the property and the reason for its retention within the group. Goodwill amortisation Amortisation of purchased goodwill is calculated on a straight line basis and over its useful economic life which the directors have assessed and made an appropriate judgement on.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured on completion of those services on a time basis. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	2% straight line
Plant and machinery	-	15% - 33% straight line
Fixtures and fittings	-	15% - 33% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	`15% - 33% Straight line`

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Income from investments is included in the statement of comprehensive income in the accounting period to which it relates.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. Turnover

Turnover arises from:

	2021	2020
	£	£
Sale of goods	2,393,269	2,087,454
Provision of care home facilities	5,588,268	5,125,990
Serviced office and other rental income	980,225	1,073,095
	------------	------------
	8,961,762	8,286,539
	------------	------------

The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.

5. Other operating income

	2021	2020
	£	£
Government grant income	376,230	308,367
	---------	---------

6. Operating profit

Operating profit or loss is stated after charging/crediting:

	2021	2020
	£	£
Amortisation of intangible assets	224,008	224,008
Depreciation of tangible assets	595,837	594,916
Loss/(gains) on disposal of tangible assets	4,271	( 50,448)
Fair value adjustments to investment property	–	( 120,000)
Impairment of trade debtors	(93,487)	107,541
	---------	---------

7. Auditor's remuneration

	2021	2020
	£	£
Fees payable for the audit of the financial statements	22,600	21,520
	--------	--------

Fees payable to the company's auditor and its associates for other services:

Other non-audit services	26,495	32,570
	--------	--------

8. Staff costs

The average number of persons employed by the group during the year, including the directors, amounted to:

	2021	2020
	No.	No.
Production staff	224	237
Management staff	27	27
	----	----
	251	264
	----	----

The aggregate payroll costs incurred during the year, relating to the above, were:

	2021	2020
	£	£
Wages and salaries	3,701,936	3,827,451
Social security costs	250,657	258,977
Other pension costs	250,801	258,843
	------------	------------
	4,203,394	4,345,271
	------------	------------

9. Directors' remuneration

The directors' aggregate remuneration in respect of qualifying services was:

	2021	2020
	£	£
Remuneration	180,943	182,867
Company contributions to defined contribution pension plans	200,000	200,000
	---------	---------
	380,943	382,867
	---------	---------

10. Other interest receivable and similar income

	2021	2020
	£	£
Interest on loans and receivables	18,679	11,097
Interest on cash and cash equivalents	–	121
	--------	--------
	18,679	11,218
	--------	--------

11. Interest payable and similar expenses

	2021	2020
	£	£
Interest on banks loans and overdrafts	451,651	495,951
Interest on obligations under finance leases and hire purchase contracts	10,078	10,078
Other interest payable and similar charges	1,804	3,207
	---------	---------
	463,533	509,236
	---------	---------

12. Tax on loss

Major components of tax expense

	2021	2020
	£	£

Current tax:

UK current tax income	245,827	62,988
Adjustments in respect of prior periods	( 23,173)	18,446
	---------	--------
Total current tax	222,654	81,434
	---------	--------

Deferred tax:

Origination and reversal of timing differences	63,718	57,283
Impact of change in tax rate	20,346	–
	--------	--------
Total deferred tax	84,064	57,283
	---------	---------
Tax on loss	306,718	138,717
	---------	---------

Tax recognised as other comprehensive income or equity

The aggregate current and deferred tax relating to items recognised as other comprehensive income or equity for the year was £ 2,701,715 (2020: £ 11,048 ).

Reconciliation of tax expense

The tax assessed on the profit on ordinary activities for the year is higher than (2020: higher than) the standard rate of corporation tax in the UK of 19 % (2020: 19 %).

	2021	2020
	£	£
Profit on ordinary activities before taxation	536,887	67,939
	---------	--------
Profit on ordinary activities by rate of tax	101,310	3,408
Adjustment to tax charge in respect of prior periods	( 23,173)	18,446
Effect of expenses not deductible for tax purposes	40,904	76,218
Effect of capital allowances and depreciation	182,640	36,976
Other adjustments	5,037	3,669
	---------	---------
Tax on loss	306,718	138,717
	---------	---------

13. Intangible assets

Group	Goodwill
	£
Cost
At 1 January 2021 and 31 December 2021	2,240,083
	------------
Amortisation
At 1 January 2021	481,369
Charge for the year	224,008
	------------
At 31 December 2021	705,377
	------------
Carrying amount
At 31 December 2021	1,534,706
	------------
At 31 December 2020	1,758,714
	------------

The company has no intangible assets.

14. Tangible assets

Group	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2021	29,242,651	3,081,662	387,796	347,003	40,351	33,099,463
Additions	378,589	74,211	151,259	10,000	9,030	623,089
Disposals	–	–	–	( 5,000)	–	( 5,000)
Revaluations	8,200,000	–	–	–	–	8,200,000
	-------------	------------	---------	---------	--------	-------------
At 31 Dec 2021	37,821,240	3,155,873	539,055	352,003	49,381	41,917,552
	-------------	------------	---------	---------	--------	-------------
Depreciation
At 1 Jan 2021	341,601	3,039,777	157,110	148,031	18,300	3,704,819
Charge for the year	406,042	39,952	84,487	50,576	14,780	595,837
Disposals	–	–	–	( 729)	–	( 729)
Revaluations	( 538,000)	–	–	–	–	( 538,000)
	-------------	------------	---------	---------	--------	-------------
At 31 Dec 2021	209,643	3,079,729	241,597	197,878	33,080	3,761,927
	-------------	------------	---------	---------	--------	-------------
Carrying amount
At 31 Dec 2021	37,611,597	76,144	297,458	154,125	16,301	38,155,625
	-------------	------------	---------	---------	--------	-------------
At 31 Dec 2020	28,901,050	41,885	230,686	198,972	22,051	29,394,644
	-------------	------------	---------	---------	--------	-------------

Company	Motor vehicles	Total
	£	£
Cost
At 1 January 2021	332,841	332,841
Additions	5,000	5,000
	---------	---------
At 31 December 2021	337,841	337,841
	---------	---------
Depreciation
At 1 January 2021	133,869	133,869
Charge for the year	49,847	49,847
	---------	---------
At 31 December 2021	183,716	183,716
	---------	---------
Carrying amount
At 31 December 2021	154,125	154,125
	---------	---------
At 31 December 2020	198,972	198,972
	---------	---------

Included in land and buildings are investment properties with a carrying value of £4,687,000 (2020 - £4,340,000). Investment property has not been depreciated. The Directors consider the carrying value to be the fair value of the properties at the statement of financial position date.

15. Investments

The group has no investments.

Company	Shares in group undertakings
	£
Cost
At 1 January 2021 and 31 December 2021	1,440
	-------
Impairment
At 1 January 2021 and 31 December 2021	–
	-------

Carrying amount
At 1 January 2021 and 31 December 2021	1,440
	-------
At 31 December 2020	1,440
	-------

Subsidiaries, associates and other investments

Details of the investments in which the parent company has an interest of 20% or more are as follows:

	Class of share	Percentage of shares held
Subsidiary undertakings
Hampton (Burlington Court) Limited	Ordinary	100
Hampton (Burlington Court Care) Limited	Ordinary	100
Hampton (Midland) Limited	Ordinary	100
Hampton (Midland Care) Limited	Ordinary	100
Rochmills Limited	Ordinary	100
Rochmills Property Limited	Ordinary	100
Rochmills Developments Limited	Ordinary	100
Architectural & Planning Limited	Ordinary	84
Hampton (St Edmunds View) Limited	Ordinary	100
Hampton (Woburn Sands) Limited	Ordinary	100
Hampton (Woburn Sands Emporium) Limited	Ordinary	100

All subsidiary companies registered office is Burlington House, 369 Wellingborough Road, Northampton, NN1 4EU.

All of the above companies have been consolidated in the group accounts.

16. Stocks

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Raw materials and consumables	497,466	381,331	–	–
	---------	---------	----	----

17. Debtors

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Trade debtors	438,514	302,422	–	–
Amounts owed by group undertakings	–	–	1,941,229	1,924,387
Prepayments and accrued income	283,457	749,331	–	3,291
Directors loan account	58,761	413,829	34,875	–
Other debtors	177,883	183,888	47,727	47,727
	---------	------------	------------	------------
	958,615	1,649,470	2,023,831	1,975,405
	---------	------------	------------	------------

18. Creditors: amounts falling due within one year

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Bank loans and overdrafts	9,106,428	7,831,813	–	–
Trade creditors	733,432	480,622	–	–
Amounts owed to group undertakings	–	–	1,263,615	908,248
Accruals and deferred income	478,925	938,954	–	–
Social security and other taxes	438,545	265,194	–	–
Obligations under finance leases and hire purchase contracts	38,794	81,429	38,794	81,429
Other creditors	700,836	625,335	–	–
	-------------	-------------	------------	---------
	11,496,960	10,223,347	1,302,409	989,677
	-------------	-------------	------------	---------

Bank loans and overdrafts are secured on the assets to which they relate. There are also debentures creating fixed and floating charges over group assets.

Hire purchase agreements are secured against the assets to which they relate to.

19. Creditors: amounts falling due after more than one year

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Bank loans and overdrafts	4,826,384	7,167,172	–	–
Obligations under finance leases and hire purchase contracts	37,854	76,649	37,854	76,649
Other creditors	1,243,995	879,672	–	–
	------------	------------	--------	--------
	6,108,233	8,123,493	37,854	76,649
	------------	------------	--------	--------

Bank loans and overdrafts are secured on the assets to which they relate. There are also debentures creating fixed and floating charges over group assets.

Hire purchase agreements are secured against the assets to which they relate to.

Included within loans repayable after one year is £nil (2020 £2,381,893) which is repayable after more than five years from the year end date. The loan is repayable in installments and interest is repayable at 2.5% above LIBOR. Since the year end the group have refinanced.

20. Finance leases and hire purchase contracts

The total future minimum lease payments under finance leases and hire purchase contracts are as follows:

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Not later than 1 year	38,794	81,429	–	–
Later than 1 year and not later than 5 years	37,854	76,649	–	–
	--------	---------	----	----
	76,648	158,078	–	–
	--------	---------	----	----

21. Provisions

Group	Deferred tax (note 22)
	£
At 1 January 2021	1,869,563
Additions	1,827,092
Charge against provision	974,500
	------------
At 31 December 2021	4,671,155
	------------

The company does not have any provisions.

22. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Included in provisions (note 21)	4,671,155	1,869,563	–	–
	------------	------------	----	----

The deferred tax account consists of the tax effect of timing differences in respect of:

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Accelerated capital allowances	50	( 26,621)	–	–
Revaluation of tangible assets	4,455,603	1,763,113	–	–
Fair value adjustment of investment property	215,502	133,071	–	–
	------------	------------	----	----
	4,671,155	1,869,563	–	–
	------------	------------	----	----

Included in deferred tax is a provision for unrealised gains on revalued freehold property.

23. Employee benefits

Defined contribution plans

The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 250,801 (2020: £ 258,843 ).

24. Government grants

The amounts recognised in the financial statements for government grants are as follows:

Group		Company
2021	2020	2021	2020
£	£	£	£

Recognised in other operating income:

Government grants recognised directly in income	376,230	308,367	–	–
	---------	---------	----	----

25. Called up share capital

Issued, called up and fully paid

	2021		2020
	No.	£	No.	£
Ordinary shares of £ 0.01 each	85,850	859	85,850	859
	--------	----	--------	----

26. Reserves

Revaluation reserve - this reserve records the value of asset revaluations and fair value movements on assets recognised in other comprehensive income. Merger reserve - this reserve records the reserve created on the business combination. Profit and loss account - this reserve records retained earnings and accumulated losses.

27. Analysis of changes in net debt

	At 1 Jan 2021	Cash flows	At 31 Dec 2021
	£	£	£
Cash at bank and in hand	140,639	348,333	488,972
Debt due within one year	(7,913,242)	(1,231,980)	(9,145,222)
Debt due after one year	(7,243,821)	2,379,583	(4,864,238)
	-------------	------------	-------------
	( 15,016,424)	1,495,936	( 13,520,488)
	-------------	------------	-------------

28. Operating leases

As lessee

The total future minimum lease payments under non-cancellable operating leases are as follows:

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Not later than 1 year	39,896	29,500	–	–
Later than 1 year and not later than 5 years	134,248	118,000	–	–
Later than 5 years	471,353	500,853	–	–
	---------	---------	----	----
	645,497	648,353	–	–
	---------	---------	----	----

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

	Group		Company
	2021	2020	2021	2020
	£	£	£	£
Not later than 1 year	375,631	289,676	–	–
Later than 1 year and not later than 5 years	800,727	651,461	–	–
Later than 5 years	389,590	176,512	–	–
	------------	------------	----	----
	1,565,948	1,117,649	–	–
	------------	------------	----	----

Rochmills (Holdings) Ltd

Notes to the Financial Statements (continued)

Year ended 31 December 2021

29. Contingencies

The company has provided cross guarantees for certain other group companies.

30. Directors' advances, credits and guarantees

A director operates a loan account with the group. The opening balance owed to the group was £390,146. During the year the group purchased a property from the director for £347,000. The closing balance owed to the group was £86,036. Interest of £3,677 was charged (2020 £7,580). Another director operates a loan account with the group, the opening balance owed to the group was £42,064. During the year net payments were made and at the year end the director owed the group £nil. No interest was charged and the loan was repayable on demand. Another director operates a loan account with the group, the opening balance was £10,303 owed to the director. The loan account remained in credit throughout the year and at the year end the group owed the director £27,275. No interest was charged and the loan is repayable on demand.

31. Related party transactions

Group

Exemption is taken from disclosing group related party transactions as set out in FRS 102. During the year the group made the following related party transactions:- S H Pension Fund J S Sehmi is a trustee and member of this scheme. The group paid rent amounting to £72,000 (2020 - £11,522) to the pension fund during the year. The group have borrowed funds from the pension fund during the year, the balance outstanding at the year end was £1,486,381 (2020 - £1,072,047). The loan is repayable over 5 years and interest at 6% is charged on the outstanding balance. The loan is secured against the assets of that company. Fragrances UK Limited This is a company controlled by a director. Fragrance UK Limited paid rent and charges amounting to £84,259 (2020 - £85,786) to the the group during the year. The balance outstanding at the statement of financial position date was £39,180 (2020 - £nil). UK EX Ltd This is a company controlled by a director UK EX loaned funds to a group company in 2020 totalling £50,000 which was fully repaid in the year. During the year the group purchase goods totalling £5,000 from a business controlled by a director, the amount remained outstanding at the year end. The remuneration for key management personnel is as disclosed in the directors remuneration note.

Company

The company has taken advantage of the exemption available from disclosing transactions with group companies.

32. Controlling party

The ultimate controlling party is J S Sehmi .