Registered number:
01844693
CASTLEGATE HOUSE REST HOME LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 APRIL 2019
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CASTLEGATE HOUSE REST HOME LIMITED
REGISTERED NUMBER:
01844693
BALANCE SHEET
AS AT
30 APRIL 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The
financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on
27 April 2020
.
................................................
P Warren-Gray
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The notes on pages 3 to 8 form part of these financial statements.
Page 1
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CASTLEGATE HOUSE REST HOME LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
30 APRIL 2019
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Comprehensive income for the year
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Total comprehensive income for the year
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The notes on pages 3 to 8 form part of these financial statements.
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED
30 APRIL 2018
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Comprehensive income for the year
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Other comprehensive income for the year
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Total comprehensive income for the year
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Total transactions with owners
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The notes on pages 3 to 8 form part of these financial statements.
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Page 2
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
Castlegate House Rest Home Limited is a private company incorporated in England and Wales. The Company’s registered office is MPS Administration Office No. 6 & 7 Key Point Office Village, Nix's Hill, Alfreton, Derbyshire, DE55 7FQ. The Company’s registration number is 01844693. Its principal activity is the provision of care services.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
.
The financial statements have been prepared in sterling.
The following principal accounting policies have been applied:
The Directors believe that the Company's financial statements should be prepared on a going concern basis and have considered a period of twelve months from the date of approval of these financial statements.
Whilst the Company continues to trade profitably the Group by which it is owned is reliant on the continued support of the Bank, which has a cross corporate charge across all Group entities.
Additionally, subsequent to the year end, the outbreak of Covid 19 has had a significant effect on the global economy and at the date of signing the future consequences of the outbreak on the Group cannot be accurately predicted and nor can the long term position of the Group's bankers with regards to their ongoing support.
Notwithstanding the above after reviewing the Company's forecasts and projections, the directors have a reasonable expectation that the Company had adequate resources to continue in operational existence for the foreseeable future. As such the Company continues to adopt the going concern basis in preparing it's financial statements however acknowledges there is material uncertainty around this relating to factors outside of it's control as noted above.
Turnover comprises revenue recognised by the Company in respect of goods and services supplied during the year to residents of the nursing home.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Page 3
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
2.
Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance sheet date, except that:
∙
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.
Page 4
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
2.
Accounting policies (continued)
Short term debtors are measured at transaction price, less any impairment.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short term creditors are measured at the transaction price.
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The average monthly number of employees, including directors, during the year was
24
(2018 -
25
)
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Charge for the year on owned assets
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Cross guarantees to the bank exist over group assets to secure group borrowings. At the year end the group indebtedness to the bank totalled £18,414,382 (2018: £19,549,710).
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Page 5
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
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Amounts owed by group undertakings
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Amounts owed by associated undertakings
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Page 6
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
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Charged to profit or loss
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The deferred tax asset is made up as follows:
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Accelerated capital allowances
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The amount of deferred tax expected to be reversed during next year is immaterial to the accounts.
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Authorised, allotted, called up and fully paid
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1,000
(2018 -
1,000
)
Ordinary Shares
shares of £
1.00
each
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The Company operates a defined contributions pension scheme. The assets of the pension scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £
3,014
(2018: £
1,174
). At the balance sheet date there were amounts outstanding to the pension fund of £
202
(2018: £
197
).
Page 7
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CASTLEGATE HOUSE REST HOME LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2019
The Company's immediate parent company is
MPS Care Limited
by virtue of owning the entire issued
share capital of the Company. The Company's ultimate parent company is
MPS Care Group Limited
,
registered office:
No. 6&7 Key Point Office Village,
Nix's Hill,,
Alfreton,
Derbyshire,
DE55 7FQ
The ultimate controlling party is
P Warren-Gray
by virtue of owning the entire issued share capital of
MPS Care Group Limited
.
The auditors' report on the financial statements for the year ended 30 April 2019 was
unqualified
The audit report was signed on
29 April 2020
by
James Delve
(Senior statutory auditor) on behalf of
Smith Cooper Audit Limited
and included the following paragraph:
Material uncertainty relating to going concern
We draw attention to note 2.2 in the financial statements, which indicates that the uncertainty around the support of the Group's bank and the consequences of the outbreak of Covid 19. As stated in note 2.2, these events or conditions, along with the other matters as set forth in note 2.2, indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Page 8
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