St Catherine's Care Centre Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11151719 (England and Wales)

ST CATHERINE'S CARE CENTRE LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr L Hasham

REGISTERED OFFICE:

Capital House

106 Meadrow

Godalming

Surrey

GU7 3HY

REGISTERED NUMBER:

11151719 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

FIXED ASSETS

Tangible assets

4

2,893,549

2,915,630

CURRENT ASSETS

Debtors

5

20,402

29,525

Cash at bank and in hand

6,927

4,652

27,329

34,177

CREDITORS

Amounts falling due within one year

6

1,047,810

1,288,425

NET CURRENT LIABILITIES

(1,020,481

)

(1,254,248

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,873,068

1,661,382

PROVISIONS FOR LIABILITIES

33,268

38,326

NET ASSETS

1,839,800

1,623,056

CAPITAL AND RESERVES

Called up share capital

4

4

Share premium

1,567,516

1,567,516

Retained earnings

272,280

55,536

1,839,800

1,623,056

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 December 2023 and were signed by:

Mr L Hasham - Director

1.	STATUTORY INFORMATION

St Catherine's Care Centre Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 11151719 and the registered office address is Capital House, 106 Meadrow, Godalming, Surrey, United Kingdom, GU7 3HY.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency is £ sterling.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of assets

Management use their judgement to determine if there are any indicators of impairment.

Management do not consider there to be any significant estimates.

Turnover

Turnover is generated from the provision of residential care services.

Turnover is recognised when care services are provided and is adjusted for accrued and deferred income where necessary.

Turnover is exempt from value added tax.

Tangible fixed assets

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

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

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

No depreciation is provided on freehold property as any depreciation charged would be immaterial to the financial statements. Depreciation would be immaterial due to the high residual values of the assets which are ensured by a programme of repair and refurbishment (the cost of which is charged to the Income Statement).

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the Income Statement.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the Income Statement in the period to which they relate.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Government grants

Grants of a revenue nature are credited to the Income Statement in the period to which they relate in accordance with the terms of the grant. Any accrued or deferred element of the grant is included in debtors or creditors as applicable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 24 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2022

2,752,049

247,442

11,459

3,010,950

Additions

-

40,819

-

40,819

Disposals

-

(28,012

)

(11,459

)

(39,471

)

At 31 March 2023

2,752,049

260,249

-

3,012,298

DEPRECIATION

At 1 April 2022

-

88,427

6,893

95,320

Charge for year

-

49,963

1,142

51,105

Eliminated on disposal

-

(19,641

)

(8,035

)

(27,676

)

At 31 March 2023

-

118,749

-

118,749

NET BOOK VALUE

At 31 March 2023

2,752,049

141,500

-

2,893,549

At 31 March 2022

2,752,049

159,015

4,566

2,915,630

The freehold properties of the company are secured against the group's bank loan.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

15,938

29,152

Other debtors

20

20

Prepayments and accrued income

4,444

353

20,402

29,525

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

96,279

84,929

Amounts owed to group undertakings

887,852

1,114,368

Corporation tax

30,000

49,055

Other creditors

3,064

7,188

Accruals and deferred income

30,615

32,885

1,047,810

1,288,425

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Liz Martyn ACA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

8.	CONTINGENT LIABILITIES

The company has a cross guarantee with its holding company, CHD Living Ltd, in favour of Barclays Bank to guarantee its loan. The total indebtedness at the balance sheet date is £21,176,470 (2022: £21,750,000).

9.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10.	ULTIMATE PARENT COMPANY AND ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is CHD Living Ltd and the ultimate parent undertaking is CHD Surrey Ltd, a company incorporated in England and Wales. The ultimate control of that company is exercised by its shareholders. No one shareholder has ultimate control.

The smallest group in which the results of the company are consolidated is that headed by CHD Living Ltd. The largest group in which the results of the company are consolidated is that headed up by CHD Surrey Ltd. Both of these group accounts are available to the public and may be obtained from the Registrar of Companies.