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REGISTERED NUMBER: 04977355 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHARING ROSE LIMITED

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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










Page

Statement of Financial Position 1

Notes to the Financial Statements 2


CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 17,500 24,500
Tangible assets 6 1,001,559 975,120
1,019,059 999,620

CURRENT ASSETS
Debtors 7 998,151 886,906
Cash at bank and in hand 240,554 205,135
1,238,705 1,092,041
CREDITORS
Amounts falling due within one year 8 249,399 242,512
NET CURRENT ASSETS 989,306 849,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,008,365

1,849,149

CREDITORS
Amounts falling due after more than one
year

9

(747,853

)

(758,765

)

PROVISIONS FOR LIABILITIES 12 (3,106 ) (2,749 )
NET ASSETS 1,257,406 1,087,635

CAPITAL AND RESERVES
Called up share capital 13 100 100
Retained earnings 14 1,257,306 1,087,535
SHAREHOLDERS' FUNDS 1,257,406 1,087,635

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2022 and were signed on its behalf by:



Y M Osman - Director


CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


1. STATUTORY INFORMATION

Charing Rose Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04977355

Registered office: 368 Forest Road
London
E17 5JF

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" 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 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


2. ACCOUNTING POLICIES - continued

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 32 (2020 - 33 ) .

4. AUDITORS' REMUNERATION
2021 2020
£    £   
Fees payable to the Company's auditors for the audit of the Company's
financial statements

6,360

6,120

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2021
and 31 December 2021 140,000
AMORTISATION
At 1 January 2021 115,500
Amortisation for year 7,000
At 31 December 2021 122,500
NET BOOK VALUE
At 31 December 2021 17,500
At 31 December 2020 24,500

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
Freehold and Motor
property equipment vehicles Totals
£    £    £    £   
COST
At 1 January 2021 1,076,956 221,740 6,495 1,305,191
Additions 48,796 10,927 - 59,723
At 31 December 2021 1,125,752 232,667 6,495 1,364,914
DEPRECIATION
At 1 January 2021 133,987 190,745 5,339 330,071
Charge for year 22,515 10,480 289 33,284
At 31 December 2021 156,502 201,225 5,628 363,355
NET BOOK VALUE
At 31 December 2021 969,250 31,442 867 1,001,559
At 31 December 2020 942,969 30,995 1,156 975,120

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 10,637 18,234
Amounts owed by group undertakings 987,052 867,871
Other debtors 462 801
998,151 886,906

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts (see note 10) 84,152 76,652
Trade creditors 6,825 6,447
Taxation and social security 49,216 59,732
Other creditors 109,206 99,681
249,399 242,512

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans (see note 10) 747,853 758,765

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,500 -

10. LOANS

An analysis of the maturity of loans is given below:

2021 2020
£    £   
Amounts falling due within one year or on demand:
Bank loans 84,152 76,652

Amounts falling due between one and two years:
Bank loans - 1-2 years 86,652 76,652

Amounts falling due between two and five years:
Bank loans - 2-5 years 658,701 682,113

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,500 -

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


11. SECURED DEBTS

The following secured debts are included within creditors:

2021 2020
£    £   
Bank loans 832,005 835,417

The bank loan is 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 loan is repayable over the period until 2024. The rate of interest payable on the debt is 2.75% per annum over the Bank Base Rate.

12. PROVISIONS FOR LIABILITIES
2021 2020
£    £   
Deferred tax 3,106 2,749

Deferred
tax
£   
Balance at 1 January 2021 2,749
Provided during year 357
Balance at 31 December 2021 3,106

13. CALLED UP SHARE CAPITAL

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

14. RESERVES
Retained
earnings
£   

At 1 January 2021 1,087,535
Profit for the year 305,771
Dividends (136,000 )
At 31 December 2021 1,257,306

CHARING ROSE LIMITED (REGISTERED NUMBER: 04977355)

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


15. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Nicholas Jeffrey Klein (Senior Statutory Auditor)
for and on behalf of Klein Evangelou

16. 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 owed by Group undertakings 987,052 867,871


Related Party Relationship:

Group Undertakings:
Charing Holdings Limited
Charing Way Limited

17. POST BALANCE SHEET EVENTS

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

18. CONTROLLING PARTY

The immediate and ultimate parent undertaking is Charing Holdings Limited. The registered office of Charing
Holdings Limited is 368 Forest Road, London, E17 5JF.