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28 September 2022
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No description of principal activity
2020-10-01
Sage Accounts Production Advanced 2021 - FRS102_2021
xbrli:pure
xbrli:shares
iso4217:GBP
10874560
2020-10-01
2021-09-30
10874560
2021-09-30
10874560
2020-09-30
10874560
bus:OrdinaryShareClass1
2020-10-01
2021-09-30
10874560
bus:Director3
2020-10-01
2021-09-30
10874560
core:WithinOneYear
2021-09-30
10874560
core:WithinOneYear
2020-09-30
10874560
core:AfterOneYear
2020-09-30
10874560
core:ShareCapital
2021-09-30
10874560
core:ShareCapital
2020-09-30
10874560
core:OtherReservesSubtotal
2021-09-30
10874560
core:OtherReservesSubtotal
2020-09-30
10874560
core:RetainedEarningsAccumulatedLosses
2021-09-30
10874560
core:RetainedEarningsAccumulatedLosses
2020-09-30
10874560
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2020-10-01
2021-09-30
10874560
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2020-10-01
2021-09-30
10874560
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2020-10-01
2021-09-30
10874560
bus:SmallCompaniesRegimeForAccounts
2020-10-01
2021-09-30
10874560
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2020-10-01
2021-09-30
10874560
bus:OrdinaryShareClass1
2021-09-30
10874560
bus:OrdinaryShareClass1
2020-09-30
10874560
1
2020-10-01
2021-09-30
COMPANY REGISTRATION NUMBER:
10874560
Alma Care Homes Birchester Limited
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Filleted Abridged Financial Statements
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Alma Care Homes Birchester Limited
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Abridged Financial Statements
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Year Ended 30 September 2021
Abridged statement of financial position
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1 to 2
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Notes to the abridged financial statements
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3 to 6
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Alma Care Homes Birchester Limited
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Abridged Statement of Financial Position
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30 September 2021
Fixed Assets
Tangible assets
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6
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6,463,957
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6,463,957
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|
|
|
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Current Assets
Creditors: amounts falling due within one year
|
(
4,612,700)
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(
319,714)
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------------
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---------
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Net Current Liabilities
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(
4,095,802)
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(
319,714)
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------------
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------------
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Total Assets Less Current Liabilities
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2,368,155
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6,144,243
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Creditors: amounts falling due after more than one year
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7
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–
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(
4,189,518)
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Provisions
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(
163,654)
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(
129,796)
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------------
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------------
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Net Assets
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2,204,501
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1,824,929
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------------
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------------
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Capital and Reserves
Called up share capital
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9
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1
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1
|
Capital contribution
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2,564,509
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2,564,509
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Profit and loss account
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(
360,009)
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(
739,581)
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------------
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------------
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Shareholders Funds
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2,204,501
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1,824,929
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------------
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------------
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These abridged 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 abridged statement of income and retained earnings 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 abridged financial statements.
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 30 September 2021 in accordance with Section 444(2A) of the Companies Act 2006.
Alma Care Homes Birchester Limited
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Abridged Statement of Financial Position (continued)
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30 September 2021
These abridged financial statements were approved by the
board of directors
and authorised for issue on
27 September 2022
, and are signed on behalf of the board by:
Company registration number:
10874560
Alma Care Homes Birchester Limited
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Notes to the Abridged Financial Statements
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Year Ended 30 September 2021
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA. The principal place of business is The Farmstead, Bryce Way, Lawley Bank, Telford, TF4 2SG.
2.
Statement of compliance
These abridged 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 a non going concern basis, under the historical cost basis
. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
On 30 May 2022, the company sold the property which is used for its trade. As a result the company ceased to trade from 30 May 2022. As a result of this the directors do not consider the company to be a going concern and so a basis other than going concern has been applied to the financial statements.
Revenue recognition
The turnover shown in the income statement represents rental income earned in the year.
Exceptional items
Exceptional items are material and non-recurring items. These are disclosed separately on the face of the income statement to reflect performance in a consistent manner, in line with how the business is managed and measured on a day-to-day basis.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered 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 where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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 - nil In determining the residual value of the property the directors have considered the amount they would currently obtain from disposal of the asset, if the asset were already of the age and condition expected at the end of its useful life. As a result the directors estimate any depreciation charge to be immaterial and as such the depreciation charge for the period is nil.
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.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2020: 4)
5.
Exceptional items
An exceptional items has been disclosed in the Statement of Income and Retained Earnings as follows:
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2021
|
2020
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|
£
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£
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|
Inter-group balances written off
|
–
|
(1,034,527)
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|
|
|
|
6.
Tangible assets
|
£
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Cost
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At 1 October 2020 and 30 September 2021
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6,463,957
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------------
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Depreciation
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|
At 1 October 2020 and 30 September 2021
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–
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------------
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Carrying amount
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|
At 30 September 2021
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6,463,957
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------------
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At 30 September 2020
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6,463,957
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|
------------
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|
|
7.
Creditors:
amounts falling due after more than one year
Included within creditors: amounts falling due after more than one year is an amount of £4,236,319 (2020: £3,438,598) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The following liabilities (including both creditors falling due within one year and after more than one year) are secured by the company:
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2021
|
2020
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£
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£
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Bank loans
|
4,210,255
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4,306,949
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|
|
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|
The company currently pays an interest rate of 2.25% above LIBOR on bank loans with a repayment profile of over 20 years.
8.
Security and contingencies
The company has entered into an unlimited guarantee for bank loans made available to group companies. It is not anticipated that any material liabilities will arise from the contingent liabilities other than those provided for in these financial statements.
The company treats guarantees and indemnities of this nature as contingent liabilities until such time as it becomes probable that the company will be required to make a payment under the terms of the arrangement.
As at 30 September 2021 the value of the group wide bank borrowings amounted to £16.0million (2020: £16.4million).
There is a legal charge, incorporating a fixed and floating charge, over the property and assets owned by the company.
9.
Called up share capital
Issued, called up and fully paid
|
2021
|
2020
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|
No.
|
£
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No.
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£
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Ordinary shares of £ 1 each
|
1
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1
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1
|
1
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------------
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------------
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----
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----
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10.
Events after the end of the reporting period
On 30 May 2022 the company completed on the sale of its property. Total consideration of £11.5million was received for the property which was the sole tangible fixed asset held by the company. As a result a gain of £5million is anticipated in the following year and the trade subsequently ceased.
11.
Summary audit opinion
The auditor's report for the year dated
28 September 2022
was
unqualified
, however, the auditor drew attention to the following by way of emphasis.
We draw attention to the basis other than going concern policy in note 3 to the financial statements, which explains the trade ceased post year end. The directors therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly, the financial statements have been prepared on a basis other than going concern as described in note 3. Our opinion is not modified in respect of this matter.
The senior statutory auditor was
Tony Hornsby BA (Hons) BFP FCA
, for and on behalf of
MCABA Limited t/a Mitchells
.
12.
Related party transactions
The company has taken advantage of the exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. During the year the company provided and received loans from group companies and related parties. The balance outstanding due from/(to) group companies and related parties at 30 September 2021 are as follows:
|
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2021 |
2020 |
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£ |
£ |
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Amounts owed from entities under common control |
516,898 |
– |
|
Amounts owed to entities which hold a controlling interest |
(60,638) |
(690,638) |
|
Amounts owed to entities under common control |
(209,370) |
– |
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All of the above balances are unsecured, interest free and repayable on demand.
13.
Controlling party
Alma Care Homes Birchester Limited
is the 100% subsidiary of Great Nursing Homes Holding S.á r.l
., a company incorporated in Luxembourg. The address of the registered office is 2a, rue des Capucins, L-1313 Luxembourg, Grand Duchy of Luxembourg. The ultimate parent company is Princess Wilru S.á r.l
., a company incorporated in Luxembourg. The directors consider Princess Wilru S.á r.l. to be the ultimate controlling party. Princess Wilru S.á r.l. is registered with the Luxembourg Register of Commerce and Companies under number B 118.903. It's registered office is 2a, rue des Capucins, L-1313 Luxembourg, Grand Duchy of Luxembourg.