ROYAL BAY CARE HOMES LTD

Company number

03852183

Status

Active

Incorporation

1999-10-01

Last accounts made up

2024-10-31

Account category

GROUP

Primary SIC

86900

Hubs

UK Healthcare

Values shown as filed in iXBRL accounts. — indicates the figure was not present in the extracted filing (either not filed under that concept or absent from the period). About these numbers

Accounting basis

FRS 102

Reporting scope

Consolidated (group)

Auditor

Morris Lane

Audit opinion

Qualified

Going concern

Affirmed

“The directors have adopted the going concern basis in preparing these financial statements assessing the principal risks applicable to the company. These include rising inflation, staff shortages as a result of Brexit, the 9.8% increase in the National Living Wage for employees over the age of 21, the increase in National Insurance costs, the cost of living crisis and higher insurance premiums. They are satisfied that the company, with the support of other group companies, can meet its liabilities as they fall due, being a period of not less than 12 months from the date of approval of these financial statements, and to be well placed to manage its financing and business risks satisfactorily. Overall, the directors do not consider there to be a cause for material uncertainty regarding the company's going concern status as at the date of signing these financial statements.”

Subsidiaries

• Castle Farm Care Limited · 100% held · England and Wales · Care home operation
• Claremont Gardens Management (Fontwell) Limited · 100% held · England and Wales · Dormant company
• RB Court Management (Aldwick) Limited · 100% held · England and Wales · Dormant company
• Regency Oldhomes Limited · 100% held · England and Wales · Care home operation
• Claremont Lodge Care Home Limited · 100% held · England and Wales · Care home operation
• RW Royal Bay Care Homes Limited · 75% held · Cyprus · Property holding company
• Apsley House Care Home Limited · 100% held · England and Wales · Care home operation

Significant events

• “The Group turnover has increased by 3.5% to £13,185,162 in comparison with the 2023 level of £12,737,437. Operating profit for the year, excluding developments (care only), was £1,163,395 in comparison with 2023's figure of £1,222,758. The group saw a profit before tax decrease from 2023 of £706,058 to 2024 of £631,994.”
• “In the future we will endeavour to improve all aspects of quality at all levels. The marketing activity will be actively expanded and targeted to improve occupancy and fee income. The group's particular expertise in designing, developing, marketing, and operating care villages gives an opportunity to undertake further ventures. Care home acquisitions could be contemplated based on affordability, 'cluster' location, and improvement potential.”
• “The care industry is to face fundamental changes to the public funding framework commencing April 2022, yet must also deal with external economic pressures such as inflation, cost increases and interest rate rises. Inflation across the year up to 31 October 2024 was approximately 3%, as well the rise in National Living Wage. We have had to counteract this by covering costs via fee increases, good occupancy and cost reductions.”
• “Due to external global pressures, energy costs have risen considerably and continue to contribute to a rising cost of living. Care Homes are particularly susceptible due to their costs being largely made up of energy, wages as well as consumables such as food. Fortunately a large proportion of our energy costs can be mitigated by longer term energy contracts and in conjunction we continue to seek cost savings elsewhere.”
• “Ultimately it is an objective of the group to move toward a higher ratio of private to Local Authority clients, thus reducing some of the complications involved with dealing with a third party.”
• “Work place pensions have now been in place for a number of years and all Homes now make the 3% contribution and are able to manage the increased financial pressure. In recent years the rise of National Living Wage has been a significant cost that we have been required to budget for, however as a group we always aim to pay slightly more than the National Living Wage.”

Auditor / going-concern / subsidiary information is extracted from the PDF version of the latest annual accounts and is not tagged in iXBRL. About these numbers