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REGISTERED NUMBER: 05124236 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHARING GARDENS LIMITED

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021










Page

Company Information 1

Strategic Report 2

Report of the Director 4

Statement of Director's Responsibilities 5

Report of the Independent Auditors 6

Statement of Income and Retained Earnings 10

Statement of Financial Position 11

Notes to the Financial Statements 12


CHARING GARDENS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2021







DIRECTOR: C Osman



REGISTERED OFFICE: 368 Forest Road
London
E17 5JF



REGISTERED NUMBER: 05124236 (England and Wales)



SENIOR STATUTORY AUDITOR: Nicholas Jeffrey Klein



AUDITORS: Klein Evangelou
Chartered Certified Accountants
368 Forest Road
London
E17 5JF

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021


The director presents his strategic report for the year ended 31 December 2021.

REVIEW OF BUSINESS
The principal activity of the company during the year was to own and manage a residential care home for the elderly.

The company operated in line with expectations. Sales, gross profit and profit before tax increased/ (decreased) by £(59,804), £44,455 and £178,630 respectively in 2021 reflecting the continued demand for the company's services.

Both the level of business and the year end financial position were satisfactory and the director expects that the general level of activity will be sustained for the foreseeable future.

PRINCIPAL RISKS AND UNCERTAINTIES
The company faces a number of risks and uncertainties and the director believes that the key business risks are summarised below. In view of these risks and uncertainties, the director is aware that the development of the company may be affected by factors outside their control.

Competitive risks
The senior living sector is a growing market and competition from both national and local care home providers is forever prevalent. If a competitor develops a home in the location of the company this may have an impact on occupancy and the potential revenue generation at that home. The director is confident that the positioning of the brand and offering, the quality of buildings, market leading care provision plus the demographics of the ageing population will protect future income streams for the company.

Legislative risks
The care home from which the company earns revenue is subject to licensing and inspection from the Care Quality Commission (CQC). The director recognises that as regulations continue to change and evolve this may have the potential to impact the revenue of the home if an inspection leads to a negative report. However, the director is confident that the strength of the internal care governance procedures and quality of management put in place by the company will have a positive impact on overall CQC compliance over the long term such that the regulatory landscape will not have a material impact on the company's revenue.

Financial risk management
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The company does not enter into any formally designated hedging arrangements.

The company continues to be financed from the sources shown within the financial statements including third party lenders and continues to be required to meet their ongoing lending requirements, in the normal way. The company does not use financial instruments to hedge against interest rate risks.

Covid-19
The company policy in relation to Covid-19 and its potential risks to the business has been to carry out comprehensive risk assessments within its activities. It has actioned all measures considered necessary to safeguard the residents and staff. These measures are constantly reviewed and, where it is felt appropriate, adapted accordingly.


CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2021

FUTURE DEVELOPMENTS
The director anticipates the business environment will remain competitive and believes that the company is in a good financial position and that the risks that have been identified are being well managed, including the ongoing risks associated with Covid-19.

The company continues to benefit from good levels of activity in the market. The focus of the business will be on maintaining and developing the existing care home.

EMPLOYEE INVOLVEMENT
The skill and support from its employees is extremely important to the company. The director acknowledges the importance of good communications and employee relations and the company devotes time and effort ensuring that all employees are well informed about those aspects of its business which may affect them. Employees are briefed on all matters relevant to their areas of operation and their views are sought and taken into account. The company remains committed to employee involvement and equal opportunity.

FINANCIAL KEY PERFORMANCE INDICATORS
The Group's key financial and other performance indicators during the year were as follows:

Unit 2021 2020
Turnover £ 4,929,606 4,989,410
Gross profit margin % 34 33
Profit before tax £ 1,049,486 870,856

Other performance indicator such as occupancy rate is monitored closely by the Director.

ON BEHALF OF THE BOARD:





C Osman - Director


30 August 2022

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 DECEMBER 2021


The director presents his report with the financial statements of the Company for the year ended 31 December 2021.

DIVIDENDS
No dividends were distributed for the year ended 31 December 2021.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTOR
C Osman held office during the whole of the period from 1 January 2021 to the date of this report.

FINANCIAL INSTRUMENTS
The company has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are largely conducted in sterling. The company does not enter into any formally designated hedging arrangements.

DISABLED EMPLOYEES
Applications for employment by disabled persons are always fully considered, bearing in mind the abilities of the
applicant concerned. In the event of members of staff becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

POST BALANCE SHEET EVENTS
Covid-19 and its effects on the business represent a non-adjusting post balance sheet event.

DISCLOSURE IN THE STRATEGIC REPORT
The principal activity of the company, a business review, likely future developments, description of employee involvement policies, financial instruments and the principal risks and uncertainties facing the company have not been included in this report as they are disclosed in the strategic report.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the Company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

AUDITORS
The auditors, Klein Evangelou, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





C Osman - Director


30 August 2022

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2021


The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARING GARDENS LIMITED


Opinion
We have audited the financial statements of Charing Gardens Limited (the 'Company') for the year ended 31 December 2021 which comprise the Statement of Income and Retained Earnings, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the Company's affairs as at 31 December 2021 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Director and the Statement of Director's Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARING GARDENS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page five, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARING GARDENS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and the care services sector, we identified that the principal risks of non-compliance with laws and regulations related to UK tax legislation, pensions legislation, employment and health and safety regulation, anti-bribery, corruption and fraud, regulation regarding professional responsibilities and, money laundering and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

We evaluated the directors’ and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to revenue recognition, and significant one-off or unusual transactions.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:
- Discussing with the directors and management their policies and procedures regarding compliance with laws and regulations;
- Communicating identified laws and regulations throughout our engagement team and remaining alert to any indications of non-compliance throughout our audit; and
- Considering the risk of acts by the company which were contrary to the applicable laws and regulations, including fraud.

Our audit procedures in relation to fraud included but were not limited to:
- Making enquiries of the directors and management on whether they had knowledge of any actual, suspected or alleged fraud;
- Gaining an understanding of the internal controls established to mitigate risks related to fraud;
- Discussing amongst the engagement team the risks of fraud; and
- Addressing the risks of fraud through management override of controls by performing journal entry testing.

The primary responsibility for the prevention and detection of irregularities including fraud rests with management.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
CHARING GARDENS LIMITED


Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou
Chartered Certified Accountants
368 Forest Road
London
E17 5JF

30 August 2022

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 DECEMBER 2021

2021 2020
Notes £    £   

TURNOVER 4,929,606 4,989,410

Cost of sales (3,232,946 ) (3,337,205 )
GROSS PROFIT 1,696,660 1,652,205

Administrative expenses (904,711 ) (901,314 )
791,949 750,891

Other operating income 3 432,281 307,100
OPERATING PROFIT 5 1,224,230 1,057,991

Interest receivable and similar income 581 484
1,224,811 1,058,475

Interest payable and similar expenses 7 (175,325 ) (187,619 )
PROFIT BEFORE TAXATION 1,049,486 870,856

Tax on profit 8 (200,787 ) (172,993 )
PROFIT FOR THE FINANCIAL YEAR 848,699 697,863

Retained earnings at beginning of year (1,697,686 ) (2,395,549 )

RETAINED EARNINGS AT END OF YEAR (848,987 ) (1,697,686 )

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 4,948,668 5,045,751

CURRENT ASSETS
Debtors 10 143,382 154,626
Cash at bank and in hand 1,454,743 871,094
1,598,125 1,025,720
CREDITORS
Amounts falling due within one year 11 1,151,487 7,613,353
NET CURRENT ASSETS/(LIABILITIES) 446,638 (6,587,633 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,395,306

(1,541,882

)

CREDITORS
Amounts falling due after more than one
year

12

(6,070,294

)

-

PROVISIONS FOR LIABILITIES 15 (173,899 ) (155,704 )
NET LIABILITIES (848,887 ) (1,697,586 )

CAPITAL AND RESERVES
Called up share capital 16 100 100
Retained earnings 17 (848,987 ) (1,697,686 )
SHAREHOLDERS' FUNDS (848,887 ) (1,697,586 )

The financial statements were approved by the director and authorised for issue on 30 August 2022 and were signed by:





C Osman - Director


CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021


1. STATUTORY INFORMATION

Charing Gardens Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and
11.48(c);
the requirement of paragraph 33.7.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised.

Care related services

Turnover from a contract to provide care related services is recognised in the period in which services are provided on an accruals basis. Turnover recognised is dependent upon the type of care and funding that a resident receives. Any fees invoiced in advance are included within deferred income until the service is completed.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings and equipment - 15% on reducing balance

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company continues with the support of it's immediate and ultimate parent company Charing Care Limited which will not allow any of it's creditors to suffer as a result of the Director's decision to allow the company to continue to trade under the circumstances.

Thus the Director continues to adopt the going concern basis of accounting in preparing the financial statements.

3. OTHER OPERATING INCOME
2021 2020
£    £   
Management fees receivable 175,752 60,895
Government grants 256,529 246,205
432,281 307,100

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


4. EMPLOYEES AND DIRECTORS
2021 2020
£    £   
Wages and salaries 2,936,687 3,012,351
Social security costs 170,193 174,265
Other pension costs 42,088 40,397
3,148,968 3,227,013

The average number of employees during the year was as follows:
2021 2020

Care assistants 168 178
Administrative 8 8
Managers 2 2
178 188

2021 2020
£    £   
Director's remuneration - 49,000

5. OPERATING PROFIT

The operating profit is stated after charging:

2021 2020
£    £   
Hire of plant and machinery 642 959
Depreciation - owned assets 161,309 161,589

6. AUDITORS' REMUNERATION

2021 2020
£    £   

Fees payable to the Company’s auditor for the audit of the Company 11,880 11,760

Fees payable to the Company’s auditor for other services:
- All other non-audit services 1,032 7,428
Total amount payable to the Company's auditor 12,912 19,188

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


7. INTEREST PAYABLE AND SIMILAR EXPENSES
2021 2020
£    £   
Bank loan interest 173,672 187,619
Other interest 1,653 -
175,325 187,619

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2021 2020
£    £   
Current tax:
UK corporation tax 182,592 153,599

Deferred tax 18,195 19,394
Tax on profit 200,787 172,993

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2021 2020
£    £   
Profit before tax 1,049,486 870,856
Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2020 - 19%)

199,402

165,463

Effects of:
Expenses not deductible for tax purposes - 2,920
Capital allowances in excess of depreciation (13,403 ) (11,801 )
Utilisation of tax losses (3,407 ) (2,983 )
Deferred tax 18,195 19,394
Total tax charge 200,787 172,993

Factors that may affect future tax charges

The UK Government reduced the rate of UK corporation tax down to 20% with effect from 1 April 2015 and then down to 19% with effect from 1 April 2017 which has remained to date.

At the Budget on 3 March 2021 the government announced an increase in the main UK Corporation Tax rate to 25% to take effect from 1 April 2023, which was substantively enacted on 24 May 2021. This was not in force at the Balance Sheet date and so has not been reflected in the measurement of deferred tax balances at the period end.

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


9. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and
property equipment Totals
£    £    £   
COST
At 1 January 2021 4,774,635 1,264,371 6,039,006
Additions - 64,226 64,226
At 31 December 2021 4,774,635 1,328,597 6,103,232
DEPRECIATION
At 1 January 2021 103,432 889,823 993,255
Charge for year 95,493 65,816 161,309
At 31 December 2021 198,925 955,639 1,154,564
NET BOOK VALUE
At 31 December 2021 4,575,710 372,958 4,948,668
At 31 December 2020 4,671,203 374,548 5,045,751

Included in the cost attributed to the Freehold property are qualifying Plant and Machinery of £3,682,162 professionally valued in accordance with the Capital Allowances Act 2001.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 134,202 152,996
Prepayments 9,180 1,630
143,382 154,626

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 13) 562,932 7,009,735
Trade creditors 55,228 65,845
Tax 102,737 78,982
Social security and other taxes 59,742 63,522
Other creditors 316,568 323,493
Accruals 27,991 34,862
Fees received in advance 26,289 36,914
1,151,487 7,613,353

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans (see note 13) 6,070,294 -

13. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 562,932 7,009,735

Amounts falling due between one and two years:
Bank loans - 1-2 years 562,932 -

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,688,795 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 3,818,567 -

14. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 6,633,226 7,009,735

The bank loans are secured by way of a fixed charge over its freehold property shown in tangible fixed assets note and a fixed and floating charge over all assets of the company.

The bank loans are repayable over the period until 2026. The rate of interest payable on the debt is 2.85% per annum over the Bank Base Rate.

15. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 173,899 155,704

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


15. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2021 155,704
Provided during year 18,195
Balance at 31 December 2021 173,899

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2021 2020
value: £    £   
100 Ordinary £1 100 100

17. RESERVES
Retained
earnings
£   

At 1 January 2021 (1,697,686 )
Profit for the year 848,699
At 31 December 2021 (848,987 )

18. ULTIMATE PARENT COMPANY

The immediate and ultimate parent undertaking is Charing Care Limited, which prepares group financial
statements.

The registered office of Charing Care Limited is 368 Forest Road, London, E17 5JF.

CHARING GARDENS LIMITED (REGISTERED NUMBER: 05124236)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2021


19. RELATED PARTY DISCLOSURES

The Company's related parties, the nature of the relationship and the extent of the transactions with them are summarised below:

2021 2020
£    £   
Amounts written off amounts owed by Group Undertakings - 12,360
Management services charged to Group Undertakings (87,408 ) (30,286 )
Management services charged to Connected Undertakings (88,344 ) (30,609 )

Related Party Relationship:

Group Undertakings:
Charing Oast Limited
Charing Park Investments Limited
Charing Healthcare Limited
Charing Vale Limited

Connected Undertakings
Charing Court Investments Limited
Charing Hill Limited

Connected Undertakings
A company having the same or predominantly the same shareholders and or Board of Directors but which neither is a parent, subsidiary, fellow subsidiary nor associated company.

20. POST BALANCE SHEET EVENTS

COVID-19 and its effects on the business represent a non-adjusting post balance sheet event.