stewartb
So the care home visited by Anas Sarwar MSP is being used to justify his claim of care homes at ‘breaking point’? If so, this company’s situation must have changed radically since 22 December 2022.
This is the date Applecross Nursing Home Limited submitted its Annual Financial Statements for the year ending 31 March 2022 to Companies House.
See https://find-and-update.company-information.service.gov.uk/company/SC177933/filing-history
Notably, the document includes a ’Strategic Report’ signed off by the company’s directors. Here are some key extracts (with my emphasis):
– ’The company has ACHIEVED GOOD RESULTS of (sic) the year under review, despite difficult market conditions affecting the sector generally.’ – good results but at ‘breaking point’?
– ’The results for the financial year REFLECT CONTINUED INVESTMENT IN THE BUSINESS INCLUDING the conclusion of A MAJOR REFURBISHMENT PROGRAMME’ – a major investment was made despite being a business at ‘breaking point’?
– Turnover: to 31 March 2021 = £3,819,415 and to 31 March 2022 = £4,317,923 – turnover up by c. £500k whilst at ‘breaking point’?
– Gross profit percentage: to 31 March 2021 = 22.87% and to 31 March 2022 = 26.01% – gross profit up and at ‘breaking point’?
– Profit after tax: to 31 March 2021 = £293,646 and to 31 March 2022 = £288,334 – profit holding up pretty well but at ‘breaking point’? (Cause of drop in profit is a higher tax bill – corporate taxes levied by HMRC.)
– Equity dividends paid: in FY to 31 March, 2021 = £167,000 and to 31 March 2022 = £167,000 – level of dividend payments sustained and yet at ‘breaking point’?
– Directors’ forward look to 31 March 2023 states: turnover ‘likely to be CONSISTENT’ and ‘PROFITABILITY WILL CONTINUE AT SATISFACTORY LEVELS’ – ‘satisfactory’ whilst at ‘breaking point’?
– Directors are also expecting to reduce reliance on agency staff – ’The directors therefore EXPECT AN IMPROVED FINANCIAL PERFORMANCE …’ – confusing isn’t it: improved business prospects whilst at ‘breaking point’!
– And: ’The Board is confident that THE EXCELLENT LEVELS OF SERVICE PROVIDED will ensure the company CONTINUES TO BE COMPETITIVE IN ITS CHOSEN MARKET’. – despite being at ‘breaking point’?
The company’s financial statement also notes: ’The directors have considered the impact that the Covid-19 pandemic could have on the ongoing trade of the company.’ It then goes on to note:
– ‘The directors DO NOT EXPECT THE COMPANY TO EXPERIENCE A REDUCTION IN PROFITABILITY OR TO INCUR ADDITIONAL LOSSES while the impact of the virus persists but WITH THE CUMULATIVE RESERVES AND THE AVAILABILITY OF GOVERNMENT ASSISTANCE they are CONFIDENT the company can continue to operate as a going concern. Sustainability payments from the Government should REDUCE ANY IMPACT OF COVID …’.
So no reduction in profitability, adequate cumulative reserves in place and in receipt of government support – all whilst at ‘breaking point’?
Something is very wrong here: the message being given out by Mr Sarwar following his visit to this particular care home, to Applecross Nursing Home, is substantially at variance with the company’s trading position based on its formal statement of accounts and strategic forward look as signed off in December 2022.
An example of Labour seeking to deceive the public in Scotland? I trust the directors of this company are not knowingly complicit in the misrepresentation! Is the care home sector willing to be exploited by Labour’s gaslighting for electoral advantage in Scotland?
Talking-up Scotland 'Albatraz' 
Once more, I play the pass and Stewart bursts the net!
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Labour , the party that gave us PFI hospitals and schools , with never ending profits for the private sector , may be gearing up to do the same for the private Care Industry .
Would you bet against it with charlatans like Starmer and Sarwar in charge of Scottish ( sic ) Labour ?
OK … Sarwar is not in charge of anything , just a useful appendage for the London Labour mob who does what he is told .
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SARWAR has connections in that area
So no surprise there
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It’s incredible how the word England is mentioned so infrequently in all the stories and discussions about the entrapment of Scotland it’s as if everyone is frightened of mentioning the FACT that it’s England that is the root cause of all this.
The same happens with Israel , nobody ever mentions Israel when talking about the devastation of the Palestinians .
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Yes, similar anxiety
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Brilliant piece of (if easy peasy) investigation. This should be splashed across Social Media to expose Sarwar’s and by association, Baillie’s dog whistle politics.
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Easy peasy? Don’t you dare say that about my pal’s work! 😉
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Excellent and clear analysis of the financials of this company which in turn exposes the lies and agenda of labour in Scotland. As mentioned in another post above, this needs wider exposure. Keep up the good work lads!
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Labour spent £Trillions on illegal wars. Killing people and causing mass migration around the world. The Scottish Gov increased social care funding. People with the means still pay for residential home care. £1000+ a week. Until £16,000 is left. Then funded by Gov. Social care in Scotland means the elderly can stay in their own homes for longer.
Life expectancy 76-79. The highest in the world Japan. 85. Spain 84. Women outlive men 5 years worldwide. Labour supported austerity killing off people. WASPI women not getting pension payments earlier without warning. Ending up on ‘benefits’. There would be less need for ‘benefit’ administration if pension payments were higher. The lowest in Europe. It would pay for itself with healthier pensioners and higher OAP’s.
Women were denied pension rights because they worked P/T 70’s, Only full time workers were allowed pension scheme benefits. They were told to pay a lower NI
stamp. Losing pension rights, They were included on their husband’s pension rights. Elderly women now live in poverty having been denied pension rights. No equality, Unequal and unfair. The Scottish Gov tries to mitigate the Westminster underfunding. Barnett Formula denies Scotland of revenues, funds and resources. Spends Scottish revenues on mismanagement and wasteful policies, Tries to hide it under the Official Secrets Act. The Oil & Gas revenues. Iraq, Dunblane and Lockerbie kept secret for 100 years. Wasted Scottish revenues and resources by Westminster secrecy and corruption. Tax evasion supported by the UK Treasury. Scotland paying for loan repayments not borrowed or spent in Scotland. Scotland surplus in fuel and energy pays more. No parity. Westminster fraud and corruption. Diverting funds to London S/E for votes. Tory unionist supporters and associates. Millionaires diverting and wasting public monies for personal gain and benefit,
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Residential homes are funding by public monies. Councils fund places. Funded from the Scottish Gov. Labour are barking up the wrong tree as usual. Ambulance chasing. Trying to scare the elderly. There is no crisis in elderly care. They are well looked after by the Scottish Gov. Personal care. Mitigate Westminster cuts. The Scottish Gov is trying to improve elderly care. With opposition from Labour. Vote chasing. Labour opposed the smoking ban and MUP making people sicker and dying. Less need for elderly care. Unionists killing off people younger. Vote unionist to die younger. More unionists illegal wars and fraud. Wasting public monies. Westminster sychopants lining their pockets on death and destruction.
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