Beechwood Place Care Ltd 31/12/2022 iXBRL
Beechwood Place Care Ltd 31/12/2022 iXBRL
Company registration number:
08981030
Contents
Directors and other information
Director's responsibilities statement
Independent auditor's report to the member
Statement of comprehensive income
Statement of financial position
Notes to the financial statements
Directors and other information
Director |
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Secretary |
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Company number |
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Registered office |
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Business address |
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Auditor |
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Craven House | ||
32 Lee Lane | ||
Horwich | ||
Bolton | ||
BL6 7BY | ||
Bankers |
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41 Cornmarket | ||
Derby | ||
DE1 2DG | ||
Director's responsibilities statement
Year ended 31 December 2022
The director is responsible for preparing the director's report and the financial statements in accordance with applicable law and regulations.
Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the director is required to:
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select suitable accounting policies and then apply them consistently;
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make judgments and accounting estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him 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.
Independent auditor's report to the member of
Year ended 31 December 2022
Opinion
We have audited the financial statements of Beechwood Place Care Ltd (the 'company') for the year ended 31 December 2022 which comprise the statement of comprehensive income, statement of financial position and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Basis for
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other Information
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 director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
-the director's report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
Responsibilities of directors
Auditor's responsibilities for the audit of the financial statements
Use of our report
This report is made solely to the company's member, 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 member those matters we are required to state to him in an auditors 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 member as a body, for our audit work, for this report, or for the opinions we have formed.
For and on behalf of
Accountants and Registered Auditors
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY
Statement of comprehensive income
Year ended 31 December 2022
2022 | 2021 | |||||
Note | £ | £ | ||||
Turnover |
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Cost of sales |
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_______ | _______ | |||||
Gross profit |
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Administrative expenses |
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Other operating income |
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_______ | _______ | |||||
Operating profit |
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Interest payable and similar expenses | 6 |
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Profit before taxation | 7 |
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Tax on profit | 8 |
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Profit for the financial year |
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Dividends declared and paid or payable during the year |
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Reclassification from revaluation reserve | 5,435 | 5,435 | ||||
Retained earnings at the start of the year |
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Retained earnings at the end of the year |
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Statement of financial position
31 December 2022
2022 | 2021 | ||||||||
Note | £ | £ | £ | £ | |||||
Fixed assets | |||||||||
Intangible assets | 9 | - | - | ||||||
Tangible assets | 10 |
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Current assets | |||||||||
Stocks |
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Debtors | 11 |
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Cash at bank and in hand |
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Creditors: amounts falling due | |||||||||
within one year | 12 |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due | |||||||||
after more than one year | 13 |
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Provisions for liabilities | 14 |
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Net assets |
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Capital and reserves | |||||||||
Called up share capital | 16 |
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Revaluation reserve |
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Profit and loss account |
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Shareholder funds |
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These financial statements were approved by the
board of directors
and authorised for issue on
25 September 2023
, and are signed on behalf of the board by:
Director
Company registration number:
08981030
Notes to the financial statements
Year ended 31 December 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 23 Marsham Way, Gerrards Cross, South Bucks, SL9 8AB.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Turnover
Taxation
Goodwill
Tangible assets
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 | - |
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Fixtures, fittings and equipment | - |
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Stocks
Government grants
Financial instruments
Defined contribution plans
4.
Auditors remuneration
2022 | 2021 | |||
£ | £ | |||
Fees payable for the audit of the financial statements |
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_______ | _______ | |||
5.
Staff costs
The average number of persons employed by the company during the year, amounted to:
2022 | 2021 | |||
Nursing and care staff |
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_______ | _______ | |||
The aggregate payroll costs incurred during the year were:
2022 | 2021 | |||
£ | £ | |||
Wages and salaries |
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Other pension costs |
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_______ | _______ | |||
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6.
Interest payable and similar expenses
2022 | 2021 | ||||
£ | £ | ||||
Bank loan |
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_______ | _______ | ||||
7.
Profit before taxation
Profit before taxation is stated after charging/(crediting):
2022 | 2021 | ||||
£ | £ | ||||
Depreciation of tangible assets |
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_______ | _______ | ||||
8.
Tax on profit
Major components of tax expense
2022 | 2021 | |||
£ | £ | |||
Current tax: | ||||
UK current tax expense |
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_______ | _______ | |||
Deferred tax: | ||||
Origination and reversal of timing differences |
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_______ | _______ | |||
Tax on profit |
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_______ | _______ | |||
9.
Intangible assets
Goodwill | Total | ||
£ | £ | ||
Cost | |||
At 1 January 2022 and 31 December 2022 |
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_______ | _______ | ||
Amortisation | |||
At 1 January 2022 and 31 December 2022 |
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_______ | _______ | ||
Carrying amount | |||
At 31 December 2022 | - | - | |
_______ | _______ | ||
At 31 December 2021 | - | - | |
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10.
Tangible assets
Freehold property | Fixtures, fittings and equipment | Total | ||
£ | £ | £ | ||
Cost or revaluation | ||||
At 1 January 2022 and 31 December 2022 |
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_______ | _______ | _______ | ||
Depreciation | ||||
At 1 January 2022 |
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Charge for the year |
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At 31 December 2022 |
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Carrying amount | ||||
At 31 December 2022 |
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At 31 December 2021 |
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Tangible assets held at valuation
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 | Total | ||
£ | £ | ||
At 31 December 2022 | |||
Aggregate cost | 1,480,060 | 1,480,060 | |
Aggregate depreciation | (81,210) | (81,210) | |
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Carrying amount |
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1,398,850 | |
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At 31 December 2021 | |||
Aggregate cost | 1,480,060 | 1,480,060 | |
Aggregate depreciation | (71,609) | (71,609) | |
_______ | _______ | ||
Carrying amount |
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1,408,451 | |
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The Freehold Land and Buildings were revalued on 12th April 2018 by Mr K Cole MRICS of Messrs Knight Frank LLP at an amount of £1,750,000.
11.
Debtors
2022 | 2021 | |||
£ | £ | |||
Trade debtors |
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Other debtors |
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_______ | _______ | |||
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_______ | _______ | |||
12.
Creditors: amounts falling due within one year
2022 | 2021 | |||
£ | £ | |||
Bank loan |
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Trade creditors |
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Amounts owed to group undertakings | - |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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_______ | _______ | |||
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_______ | _______ | |||
13.
Creditors: amounts falling due after more than one year
2022 | 2021 | |||
£ | £ | |||
Bank loan |
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_______ | _______ | |||
The Bank Loan is secured by a legal charge over the freehold and buildings of the company and by a debenture over all the assets and by inter company guarantees given by other companies within the group. The bank loan is repayable by monthly instalments until December 2029. Instalments falling due after December 2027 amount to £278,928.
14.
Provisions
Deferred tax (note 15) | Total | ||
£ | £ | ||
At 1 January 2022 |
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Charges against provisions |
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_______ | _______ | ||
At 31 December 2022 |
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_______ | _______ | ||
15.
Deferred tax
The deferred tax included in the statement of financial position is as follows:
2022 | 2021 | |||
£ | £ | |||
Included in provisions (note 14) |
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_______ | _______ | |||
The deferred tax account consists of the tax effect of timing differences in respect of:
2022 | 2021 | |||
£ | £ | |||
Accelerated capital allowances |
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Revaluation of tangible assets |
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_______ | _______ | |||
43,465 | 45,416 | |||
_______ | _______ | |||
16.
Called up share capital
Issued, called up and fully paid
2022 | 2021 | ||||||||
No | £ | No | £ | ||||||
Ordinary shares of £ 1.00 each | 100 |
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100 | 100 | |||||
_______ | _______ | _______ | _______ | ||||||
17.
Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ | £ | |
Not later than 1 year |
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Later than 1 year and not later than 5 years | - |
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_______ | _______ | |
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_______ | _______ | |
18.
Related party transactions
19.
Controlling party
20.
Ultimate parent undertaking
Zion Care Limited, a company incorporated in England and Wales is the holding company of
Beechwood Place Care Ltd
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21.
Provisions available for Smaller Entities
In common with many other businesses of our size and nature we use our auditors to prepare payroll and submit returns to the tax authorities and assist with the preparation of the financial statements.
22.
Financial viability relating to the current difficult trading environment
As referred to in the director's report the care sector, within which the company operates, has experienced an unanticipated and unprecedented traumatic trading environment since the beginning of the pandemic in March 2020. The company and the group of which it is a member have sufficient financial resources to enable it to continue to trade for a period of at least twelve months from the date when the financial statements are authorised for issue.