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

LONGVIEW CARE HOME CORNWALL LIMITED - Company Information

34 18 December 2023 false false false false false false false false false true false false false false false false No description of principal activity 2022-05-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,449,994 350,415 145,000 495,415 954,579 1,099,579 xbrli:pure xbrli:shares iso4217:GBP 12166604 2022-05-01 2023-04-30 12166604 2023-04-30 12166604 2022-04-30 12166604 2021-05-01 2022-04-30 12166604 2022-04-30 12166604 core:NetGoodwill 2022-05-01 2023-04-30 12166604 core:FurnitureFittings 2022-05-01 2023-04-30 12166604 core:MotorVehicles 2022-05-01 2023-04-30 12166604 bus:Director6 2022-05-01 2023-04-30 12166604 core:NetGoodwill 2022-04-30 12166604 core:NetGoodwill 2023-04-30 12166604 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 12166604 core:FurnitureFittings 2022-04-30 12166604 core:MotorVehicles 2022-04-30 12166604 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 12166604 core:FurnitureFittings 2023-04-30 12166604 core:MotorVehicles 2023-04-30 12166604 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-01 2023-04-30 12166604 core:AfterOneYear 2023-04-30 12166604 core:AfterOneYear 2022-04-30 12166604 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 12166604 core:WithinOneYear 2023-04-30 12166604 core:WithinOneYear 2022-04-30 12166604 core:ShareCapital 2023-04-30 12166604 core:ShareCapital 2022-04-30 12166604 core:RevaluationReserve 2023-04-30 12166604 core:RevaluationReserve 2022-04-30 12166604 core:RetainedEarningsAccumulatedLosses 2023-04-30 12166604 core:RetainedEarningsAccumulatedLosses 2022-04-30 12166604 core:NetGoodwill 2022-04-30 12166604 core:FurnitureFittings 2022-04-30 12166604 core:MotorVehicles 2022-04-30 12166604 bus:SmallEntities 2022-05-01 2023-04-30 12166604 bus:Audited 2022-05-01 2023-04-30 12166604 bus:FullAccounts 2022-05-01 2023-04-30 12166604 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 12166604 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 12166604 core:ConstructionInProgressAssetsUnderConstruction 2022-05-01 2023-04-30 12166604 core:ConstructionInProgressAssetsUnderConstruction 2023-04-30

COMPANY REGISTRATION NUMBER: 12166604

Longview Care Home Cornwall Limited

Filleted Financial Statements

30 April 2023

Longview Care Home Cornwall Limited

Financial Statements

Year ended 30 April 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Longview Care Home Cornwall Limited

Statement of Financial Position

30 April 2023

	2023	2022
Note	£	£

Fixed assets

Intangible assets	5	954,579	1,099,579
Tangible assets	6	1,829,407	1,432,157
		------------	------------
		2,783,986	2,531,736

Current assets

Stocks		3,000	3,000
Debtors	7	147,417	156,312
Cash at bank and in hand		620,398	670,528
		---------	---------
		770,815	829,840

Creditors: amounts falling due within one year	8	237,413	247,338
		---------	---------
Net current assets		533,402	582,502
		------------	------------
Total assets less current liabilities		3,317,388	3,114,238

Creditors: amounts falling due after more than one year	9	2,142,465	2,304,492

Provisions	149,979	157,462
	------------	------------
Net assets	1,024,944	652,284
	------------	------------

Capital and reserves

Called up share capital	100	100
Revaluation reserve	208,638	208,638
Profit and loss account	816,206	443,546
	------------	---------
Shareholders funds	1,024,944	652,284
	------------	---------

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.

Longview Care Home Cornwall Limited

Statement of Financial Position (continued)

30 April 2023

These financial statements were approved by the board of directors and authorised for issue on 14 December 2023 , and are signed on behalf of the board by:

M Westmore

Director

Company registration number: 12166604

Longview Care Home Cornwall Limited

Notes to the Financial Statements

Year ended 30 April 2023

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’, apart from one departure relating to depreciation of buildings, which the directors have concluded is necessary in order to give a true and fair view. See note 3 for further details.

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% 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:

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 fair value at the balance sheet date and as such no depreciation has been provided on freehold property in the accounts. This is a departure from the provisions of the Companies Act 2006 and FRS 102 in order to give a true and fair view.

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.

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. 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 34 (2022: 35 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2022 and 30 April 2023	1,449,994
	------------
Amortisation
At 1 May 2022	350,415
Charge for the year	145,000
	------------
At 30 April 2023	495,415
	------------
Carrying amount
At 30 April 2023	954,579
	------------
At 30 April 2022	1,099,579
	------------

6. Tangible assets

	Freehold property	Fixtures and fittings	Motor vehicles	Assets in the course of construction	Total
	£	£	£	£	£
Cost
At 1 May 2022	1,134,000	415,242	11,995	–	1,561,237
Additions	179,472	19,849	–	249,089	448,410
Disposals	–	( 3,944)	–	–	( 3,944)
	------------	---------	--------	---------	------------
At 30 April 2023	1,313,472	431,147	11,995	249,089	2,005,703
	------------	---------	--------	---------	------------
Depreciation
At 1 May 2022	–	125,332	3,748	–	129,080
Charge for the year	–	45,481	2,999	–	48,480
Disposals	–	( 1,264)	–	–	( 1,264)
	------------	---------	--------	---------	------------
At 30 April 2023	–	169,549	6,747	–	176,296
	------------	---------	--------	---------	------------
Carrying amount
At 30 April 2023	1,313,472	261,598	5,248	249,089	1,829,407
	------------	---------	--------	---------	------------
At 30 April 2022	1,134,000	289,910	8,247	–	1,432,157
	------------	---------	--------	---------	------------

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 £1,134,000 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 2023
Aggregate cost	1,035,286
Aggregate depreciation	–
	------------
Carrying value	1,035,286
	------------

At 30 April 2022
Aggregate cost	855,814
Aggregate depreciation	–
	---------
Carrying value	855,814
	---------

7. Debtors

	2023	2022
	£	£
Trade debtors	107,971	82,046
Other debtors	39,446	74,266
	---------	---------
	147,417	156,312
	---------	---------

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

	2023	2022
	£	£
Other debtors	7,715	–
	-------	----

8. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	41,236	25,532
Corporation tax	81,323	84,262
Social security and other taxes	29,607	27,807
Other creditors	85,247	109,737
	---------	---------
	237,413	247,338
	---------	---------

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

	2023	2022
	£	£
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,142,465	2,304,492
	------------	------------

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 Longview Care Home, Goonhavern, Truro, TR4 9JX.

11. Other financial commitments

At 30 April 2023, the company had capital commitments contracted for but not provided for in these financial statements of £147,608 (2022 – £0).

12. Summary audit opinion

The auditor's report for the year dated 18 December 2023 was unqualified .

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

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