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COMPANY REGISTRATION NUMBER: 04870331
Ebury Court Residential Home Limited
Filleted Unaudited Abridged Financial Statements
29 November 2022
Ebury Court Residential Home Limited
Abridged Financial Statements
Year Ended 29 November 2022
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Ebury Court Residential Home Limited
Abridged Statement of Financial Position
29 November 2022
2022
2021
Note
£
£
£
Fixed Assets
Tangible assets
5
293,342
216,615
Current Assets
Debtors
23,273
76,498
Cash at bank and in hand
163,424
37,945
---------
---------
186,697
114,443
Creditors: amounts falling due within one year
144,793
149,126
---------
---------
Net Current Assets/(Liabilities)
41,904
( 34,683)
---------
---------
Total Assets Less Current Liabilities
335,246
181,932
Secured Debts
6
26,401
18,009
Provisions
Taxation including deferred tax
61,569
46,511
---------
---------
Net Assets
247,276
117,412
---------
---------
Capital and Reserves
Called up share capital
7
140
140
Profit and loss account
247,136
117,272
---------
---------
Shareholders Funds
247,276
117,412
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 29 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 29 November 2022 in accordance with Section 444(2A) of the Companies Act 2006.
Ebury Court Residential Home Limited
Abridged Statement of Financial Position (continued)
29 November 2022
These abridged financial statements were approved by the board of directors and authorised for issue on 16 November 2023 , and are signed on behalf of the board by:
Mr R D Key
Director
Company registration number: 04870331
Ebury Court Residential Home Limited
Notes to the Abridged Financial Statements
Year Ended 29 November 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA. The company's place of business is 438 Rush Green Road, Romford, RM7 0LX.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements have been prepared in sterling, which is the functional currency of the entity. Accounting reference date The company has taken advantage of the provisions in section 390 of the Companies Act 2006 which allow the company to make accounts up to a date within seven days of the accounting reference date. The company financial statements are made up to the 30 November 2022 (2021: 30 November).
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Going concern
During the year the company has continued to be affected by the impact of the global COVID-19 pandemic. The business continued to operate, however additional procedures were put in place to protect residents and staff, ensure the company had adequate access to supplies of personal protective equipment, monitor costs and protect cash flow as far as possible. The company has benefitted from sector specific grants to aid continuous working and the associated additional costs. The directors have considered current performance and the results for the year and they are confident that these show that the company is able to operate within its available facilities and meet its external liabilities as they fall due for the foreseeable future. Therefore, the directors have determined that at the time of approving these financial statements it is appropriate to prepare the financial statements on a going concern basis.
Revenue recognition
The turnover shown in the profit and loss account represents residents fees earned during the year.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
All fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Improvements to property
-
10% reducing balance
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Office equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 43 (2021: 43 ).
5. Tangible assets
£
Cost
At 30 November 2021
547,932
Additions
135,633
Disposals
( 38,743)
---------
At 29 November 2022
644,822
---------
Depreciation
At 30 November 2021
331,317
Charge for the year
37,113
Disposals
( 16,950)
---------
At 29 November 2022
351,480
---------
Carrying amount
At 29 November 2022
293,342
---------
At 29 November 2021
216,615
---------
6. Secured debts
Included within creditors is debt secured over specific assets, as at 30 November 2022 the total secured debt is £35,202 (2021: £23,183).
7. Called up share capital
Issued, called up and fully paid
2022
2021
No.
£
No.
£
Ordinary A shares of £ 1 each
33
33
33
33
Ordinary B shares of £ 1 each
20
20
20
20
Ordinary C shares of £ 1 each
67
67
67
67
Ordinary D shares of £ 1 each
20
20
20
20
----
----
----
----
140
140
140
140
----
----
----
----
8. Directors' advances, credits and guarantees
During the year, the company made loans to the directors as follows;
Balance brought forward Advances Credits Balance carried forward
£ £ £ £
Grace Key 1,715 (1,715)
Rodney Key 10,809 (2,000) 8,809
Richard Key 43,448 (43,448)
Laura Key 12,273 (12,273)
---- -------- -------- -------
68,245 (59,436) 8,809
---- -------- -------- -------
9. Related party transactions
During the year the company paid rent of £50,004 (2021: £50,004) to Mr R D Key and Ms L L Key for use of the premises which is jointly owned personally by the directors.