Crescent Care Home Cornwall Limited Filleted accounts for Companies House (small and micro)

CRESCENT CARE HOME CORNWALL LIMITED - Company Information

13 21 December 2022 false false false false false false false false false true false false false false false false No description of principal activity 2021-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 187,500 45,313 18,750 64,063 123,437 142,187 xbrli:pure xbrli:shares iso4217:GBP 11181704 2021-05-01 2022-04-30 11181704 2022-04-30 11181704 2021-04-30 11181704 2020-05-01 2021-04-30 11181704 2021-04-30 11181704 2020-04-30 11181704 core:FurnitureFittings 2021-05-01 2022-04-30 11181704 core:MotorVehicles 2021-05-01 2022-04-30 11181704 core:NetGoodwill 2021-05-01 2022-04-30 11181704 bus:Director6 2021-05-01 2022-04-30 11181704 bus:Director4 2021-05-01 2022-04-30 11181704 core:NetGoodwill 2021-04-30 11181704 core:NetGoodwill 2022-04-30 11181704 core:LandBuildings core:OwnedOrFreeholdAssets 2021-04-30 11181704 core:FurnitureFittings 2021-04-30 11181704 core:MotorVehicles 2021-04-30 11181704 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 11181704 core:FurnitureFittings 2022-04-30 11181704 core:MotorVehicles 2022-04-30 11181704 core:LandBuildings core:OwnedOrFreeholdAssets 2021-05-01 2022-04-30 11181704 core:AfterOneYear 2022-04-30 11181704 core:AfterOneYear 2021-04-30 11181704 core:WithinOneYear 2022-04-30 11181704 core:WithinOneYear 2021-04-30 11181704 core:LandBuildings core:OwnedOrFreeholdAssets 2021-04-30 11181704 core:ShareCapital 2022-04-30 11181704 core:ShareCapital 2021-04-30 11181704 core:RevaluationReserve 2022-04-30 11181704 core:RetainedEarningsAccumulatedLosses 2022-04-30 11181704 core:RetainedEarningsAccumulatedLosses 2021-04-30 11181704 core:NetGoodwill 2021-04-30 11181704 core:FurnitureFittings 2021-04-30 11181704 core:MotorVehicles 2021-04-30 11181704 bus:Director4 2021-04-30 11181704 bus:Director4 2022-04-30 11181704 bus:Director6 2021-04-30 11181704 bus:Director6 2022-04-30 11181704 bus:Director4 2020-04-30 11181704 bus:Director4 2021-04-30 11181704 bus:Director6 2020-04-30 11181704 bus:Director6 2021-04-30 11181704 bus:Director4 2020-05-01 2021-04-30 11181704 bus:Director6 2020-05-01 2021-04-30 11181704 bus:SmallEntities 2021-05-01 2022-04-30 11181704 bus:Audited 2021-05-01 2022-04-30 11181704 bus:FullAccounts 2021-05-01 2022-04-30 11181704 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 11181704 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30

COMPANY REGISTRATION NUMBER: 11181704

Crescent Care Home Cornwall Limited

Filleted Financial Statements

30 April 2022

Crescent Care Home Cornwall Limited

Financial Statements

Year ended 30 April 2022

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Crescent Care Home Cornwall Limited

Statement of Financial Position

30 April 2022

	2022	2021
Note	£	£

Fixed assets

Intangible assets	5	123,437	142,187
Tangible assets	6	876,314	680,452
		---------	---------
		999,751	822,639

Current assets

Stocks		500	500
Debtors	7	129,337	125,332
Cash at bank and in hand		111,217	67,282
		---------	---------
		241,054	193,114

Creditors: amounts falling due within one year	8	52,995	74,269
		---------	---------
Net current assets		188,059	118,845
		------------	---------
Total assets less current liabilities		1,187,810	941,484

Creditors: amounts falling due after more than one year	9	457,491	594,025

Provisions	56,511	7,008
	------------	---------
Net assets	673,808	340,451
	------------	---------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	142,543	–
Profit and loss account	531,165	340,351
	---------	---------
Shareholders funds	673,808	340,451
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Crescent Care Home Cornwall Limited

Statement of Financial Position (continued)

30 April 2022

These financial statements were approved by the board of directors and authorised for issue on 19 December 2022 , and are signed on behalf of the board by:

M Westmore

Director

Company registration number: 11181704

Crescent Care Home Cornwall Limited

Notes to the Financial Statements

Year ended 30 April 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Brimscombe Farm, Brimscombe Hill, Stroud, Gloucestershire, GL5 2QW.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of 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 profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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. When the outcome of a transaction involving the rendering of services can be reliably estimated, 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. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

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 Years

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:

Fixtures and fittings	-	15% reducing balance
Motor vehicles	-	25% straight line

The directors consider the carrying value of the freehold property to be equal to the the fair value at the balance sheet date and as such no depreciation has been provided on freehold property in the accounts.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

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 and the performance 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. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

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. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 13 (2021: 16 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2021 and 30 April 2022	187,500
	---------
Amortisation
At 1 May 2021	45,313
Charge for the year	18,750
	---------
At 30 April 2022	64,063
	---------
Carrying amount
At 30 April 2022	123,437
	---------
At 30 April 2021	142,187
	---------

6. Tangible assets

	Freehold property	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£
Cost or valuation
At 1 May 2021	649,943	35,290	11,271	696,504
Additions	–	1,565	15,695	17,260
Disposals	–	–	( 11,271)	( 11,271)
Revaluations	190,057	–	–	190,057
	---------	--------	--------	---------
At 30 April 2022	840,000	36,855	15,695	892,550
	---------	--------	--------	---------
Depreciation
At 1 May 2021	–	9,242	6,810	16,052
Charge for the year	–	4,051	3,882	7,933
Disposals	–	–	( 7,749)	( 7,749)
	---------	--------	--------	---------
At 30 April 2022	–	13,293	2,943	16,236
	---------	--------	--------	---------
Carrying amount
At 30 April 2022	840,000	23,562	12,752	876,314
	---------	--------	--------	---------
At 30 April 2021	649,943	26,048	4,461	680,452
	---------	--------	--------	---------

Tangible assets held at valuation

Included in tangible assets is a freehold property, which the company trades from. Freehold property was revalued as at 30 April 2022 to its fair value of £792,000 by the directors. The basis of the valuation is open market value.

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 30 April 2022
Aggregate cost	649,943
Aggregate depreciation	–
	---------
Carrying value	649,943
	---------

At 30 April 2021
Aggregate cost	649,943
Aggregate depreciation	–
	---------
Carrying value	649,943
	---------

7. Debtors

	2022	2021
	£	£
Trade debtors	24,742	24,322
Amounts owed by group undertakings and undertakings in which the company has a participating interest	98,436	94,830
Other debtors	6,159	6,180
	---------	---------
	129,337	125,332
	---------	---------

The debtors above include the following amounts falling due after more than one year:

	2022	2021
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	98,436	94,830
	--------	--------

8. Creditors: amounts falling due within one year

	2022	2021
	£	£
Bank loans and overdrafts	2,074	12,564
Trade creditors	3,256	1,265
Corporation tax	24,534	33,735
Social security and other taxes	8,968	6,582
Other creditors	14,163	20,123
	--------	--------
	52,995	74,269
	--------	--------

The company has given security for some of the creditors that will fall due within one year.

Obligations under hire purchase contracts of £2,988 (2021- £5,844) are secured on the assets to which they relate.

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

	2022	2021
	£	£
Bank loans and overdrafts	–	1,429
Amounts owed to group undertakings and undertakings in which the company has a participating interest	217,961	242,364
Directors' loans	229,292	350,232
Other creditors	10,238	–
	---------	---------
	457,491	594,025
	---------	---------

The company has given security for some of the creditors that fall due after one year.

Obligations under hire purchase contracts of £10,238 are secured on the assets to which they relate.

10. Charges on assets

The company has a debenture in place by way of fixed and floating charges in favour of Santander UK Plc, with a separate charge over the company premises at 1 Island Crescent, Newquay, TR7 1DZ

11. Summary audit opinion

The auditor's report for the year dated 21 December 2022 was unqualified .

The senior statutory auditor was Richard Jay , for and on behalf of Jay & Jay Partnership Limited .

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2022
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C M Westmore	( 175,116)	–	60,470	( 114,646)
M Westmore	( 175,116)	–	60,470	( 114,646)
	---------	----	---------	---------
	( 350,232)	–	120,940	( 229,292)
	---------	----	---------	---------

	2021
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
C M Westmore	( 227,764)	( 7,500)	60,148	( 175,116)
M Westmore	( 227,764)	( 7,500)	60,148	( 175,116)
	---------	--------	---------	---------
	( 455,528)	( 15,000)	120,296	( 350,232)
	---------	--------	---------	---------

These loans are interest free and repayable on demand.

13. Controlling party

The results of the company are consolidated in the financial statements of its parent JAMMAC Group Limited. The address of the registered office for JAMMAC Group Limited is Brimscombe Farm, Brimscombe Hill, Stroud, Gloucestershire GL5 2QW