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REGISTERED NUMBER: SC494777 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

FOR

GREENE CARE HOMES LTD

GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GREENE CARE HOMES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2022







DIRECTORS: K Greene
G Greene



REGISTERED OFFICE: 69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG



REGISTERED NUMBER: SC494777 (Scotland)



ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG



BUSINESS ADDRESS: Rannoch Drive
Cumbernauld
Glasgow
G67 4ES

GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

BALANCE SHEET
31 MARCH 2022

31.3.22 31.3.21
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 71,100 86,900
Tangible assets 5 1,569,508 691,301
1,640,608 778,201

CURRENT ASSETS
Debtors 6 131,420 445,405
Cash at bank 100,019 264,441
231,439 709,846
CREDITORS
Amounts falling due within one year 7 340,358 311,192
NET CURRENT (LIABILITIES)/ASSETS (108,919 ) 398,654
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,531,689

1,176,855

CREDITORS
Amounts falling due after more than one
year

8

(1,416,322

)

(1,004,151

)

PROVISIONS FOR LIABILITIES (32,750 ) (27,637 )
NET ASSETS 82,617 145,067

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 82,615 145,065
SHAREHOLDERS' FUNDS 82,617 145,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

BALANCE SHEET - continued
31 MARCH 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 July 2022 and were signed on its behalf by:




K Greene - Director



G Greene - Director


GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022

1. STATUTORY INFORMATION

Greene Care Homes Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is stated gross of VAT and trade discounts. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of creditors due within one year.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

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 - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.33% on cost

Basic financial instruments
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash on hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.


GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Government grants
Government grants are eligible for recognition within the financial statements once they become receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 71 (2021 - 66 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2021
and 31 March 2022 158,000
AMORTISATION
At 1 April 2021 71,100
Charge for year 15,800
At 31 March 2022 86,900
NET BOOK VALUE
At 31 March 2022 71,100
At 31 March 2021 86,900

GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

5. TANGIBLE FIXED ASSETS
Freehold Fixtures Motor Computer
property & fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2021 473,324 368,030 17,874 4,800 864,028
Additions 881,481 35,894 - - 917,375
At 31 March 2022 1,354,805 403,924 17,874 4,800 1,781,403
DEPRECIATION
At 1 April 2021 42,599 118,695 11,433 - 172,727
Charge for year 9,466 26,494 1,610 1,598 39,168
At 31 March 2022 52,065 145,189 13,043 1,598 211,895
NET BOOK VALUE
At 31 March 2022 1,302,740 258,735 4,831 3,202 1,569,508
At 31 March 2021 430,725 249,335 6,441 4,800 691,301

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Trade debtors 95,123 72,613
Other debtors 36,297 372,792
131,420 445,405

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.22 31.3.21
£    £   
Bank loans and overdrafts 74,481 38,114
Trade creditors 44,918 90,708
Taxation and social security 12,934 18,850
Other creditors 208,025 163,520
340,358 311,192

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.22 31.3.21
£    £   
Bank loans 1,152,408 614,659
Other creditors 263,914 389,492
1,416,322 1,004,151

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 863,642 344,380

GREENE CARE HOMES LTD (REGISTERED NUMBER: SC494777)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2022

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loans are secured by a standard security over Rannoch Lodge Nursing Home property and a bond and floating charge.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2022 and 31 March 2021:

31.3.22 31.3.21
£    £   
G Greene and K Greene
Balance outstanding at start of year 158,105 203,674
Amounts advanced 9,097 9,097
Amounts repaid (71,972 ) (54,666 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 95,230 158,105

Directors loans are given interest free and have no formal repayment terms. They are therefore included within creditors more than one year in the financial statements.