Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activitytrue2022-04-01false22 12484484 2022-04-01 2023-03-31 12484484 2021-04-01 2022-03-31 12484484 2023-03-31 12484484 2022-03-31 12484484 c:Director2 2022-04-01 2023-03-31 12484484 d:Buildings 2022-04-01 2023-03-31 12484484 d:Buildings 2023-03-31 12484484 d:Buildings 2022-03-31 12484484 d:CurrentFinancialInstruments 2023-03-31 12484484 d:CurrentFinancialInstruments 2022-03-31 12484484 d:Non-currentFinancialInstruments 2023-03-31 12484484 d:Non-currentFinancialInstruments 2022-03-31 12484484 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 12484484 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 12484484 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 12484484 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 12484484 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 12484484 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 12484484 d:ShareCapital 2023-03-31 12484484 d:ShareCapital 2022-03-31 12484484 d:RetainedEarningsAccumulatedLosses 2023-03-31 12484484 d:RetainedEarningsAccumulatedLosses 2022-03-31 12484484 c:FRS102 2022-04-01 2023-03-31 12484484 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 12484484 c:FullAccounts 2022-04-01 2023-03-31 12484484 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 12484484 2 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 12484484









LOVEDAY (BELGRAVIA) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
LOVEDAY (BELGRAVIA) LIMITED
REGISTERED NUMBER: 12484484

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
19,719,644
11,081,075

  
19,719,644
11,081,075

Current assets
  

Debtors: amounts falling due within one year
 5 
329,121
190,391

Cash at bank and in hand
 6 
59,537
421,428

  
388,658
611,819

Creditors: amounts falling due within one year
 7 
(1,146,160)
(8,238,805)

Net current liabilities
  
 
 
(757,502)
 
 
(7,626,986)

Total assets less current liabilities
  
18,962,142
3,454,089

Creditors: amounts falling due after more than one year
  
(19,025,694)
(3,500,000)

  

Net liabilities
  
(63,552)
(45,911)


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
(63,556)
(45,915)

  
(63,552)
(45,911)


Page 1

 
LOVEDAY (BELGRAVIA) LIMITED
REGISTERED NUMBER: 12484484
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C R Gourgey
Director

Date: 5 October 2023

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LOVEDAY (BELGRAVIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Loveday (Belgravia) Limited is a private company limited by shares, incorporated in England & Wales (registered number: 12484484). 
The registered office and principal place of business address is 23 Spring Street, London, W2 1JA.
The principal activity of the Company continued to be that of the development and running of care homes.
The financial statements are presented in Sterling, which is the functional currency of the Company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on the going concern basis. The Company is dependent on the directors and shareholders for financial support, which the directors are confident will continue for a period of at least another 12 months following the approval of these financial statements.
The directors and shareholders have indicated their present intention to provide adequate finance to enable the Company to continue in operational existence, and on this basis the directors consider it appropriate to prepare the financial statements on the going concern basis.
The financial statements do not reflect any adjustments that would result from a withdrawal of financial support by the directors and shareholders.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
LOVEDAY (BELGRAVIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
Only depreciated once fully developed and in use

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 4

 
LOVEDAY (BELGRAVIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Land and buildings

£



Cost or valuation


At 1 April 2022
11,081,075


Additions
8,638,569



At 31 March 2023

19,719,644






Net book value



At 31 March 2023
19,719,644



At 31 March 2022
11,081,075


5.


Debtors

2023
2022
£
£


Other debtors
329,117
190,387

Called up share capital not paid
4
4

329,121
190,391



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
59,537
421,428

59,537
421,428


Page 5

 
LOVEDAY (BELGRAVIA) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
7,500,000

Trade creditors
1,129,160
223,704

Other creditors
-
500,000

Accruals and deferred income
17,000
15,101

1,146,160
8,238,805



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
19,025,694
3,500,000

19,025,694
3,500,000



9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
7,500,000


Amounts falling due after one year

Other loans
19,025,694
3,500,000


19,025,694
11,000,000


Certain loans are secured against the assets of the Company by way of fixed and floating charge.

 
Page 6