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COMPANY REGISTRATION NUMBER: 08055244
Mary Rush Care Homes Limited
Filleted Unaudited Abridged Financial Statements
31 May 2023
Mary Rush Care Homes Limited
Abridged Financial Statements
Year Ended 31 May 2023
Contents
Pages
Abridged statement of financial position
1 to 2
Notes to the abridged financial statements
3 to 5
Mary Rush Care Homes Limited
Abridged Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
£
Fixed Assets
Investments
4
12
12
Current Assets
Debtors
438,158
96,512
Creditors: amounts falling due within one year
1,854
---------
--------
Net Current Assets
438,158
94,658
---------
--------
Total Assets Less Current Liabilities
438,170
94,670
---------
--------
Capital and Reserves
Called up share capital
5
22
22
Profit and loss account
438,148
94,648
---------
--------
Shareholders Funds
438,170
94,670
---------
--------
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 31 May 2023 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 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.
Mary Rush Care Homes Limited
Abridged Statement of Financial Position (continued)
31 May 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 5 February 2024 , and are signed on behalf of the board by:
Mrs S Bilsland
Director
Company registration number: 08055244
Mary Rush Care Homes Limited
Notes to the Abridged Financial Statements
Year Ended 31 May 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sheepehouse Cottage, Stepping Stone Lane, Painswick, Gloucester, GL6 6RX.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The abridged financial statements are prepared in sterling, which is the functional currency of the entity. All of the members have consented to the preparation of abridged financial statements in accordance with Section 444(2A) of the Companies Act 2006.
Going concern
The directors have considered the financial position of the company as well as current and future projected performance and are confident that the company is able to operate within its available resources and meet its external liabilities as they fall due in the foreseeable future. Consequently, the directors have determined that at the time of approving these financial statements that it is appropriate to prepare the financial statements on a going concern basis.
Consolidation
The company has taken advantage of the option not to prepare consolidated abridged financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
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.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
4. Investments
Shares in group undertakings
£
Cost
At 1 June 2022 and 31 May 2023
12
----
Impairment
At 1 June 2022 and 31 May 2023
----
Carrying amount
At 31 May 2023
12
----
At 31 May 2022
12
----
Subsidiaries, associates and other investments
Class of share
Percentage of shares held
Subsidiary undertakings
Mary Rush Care Limited
Ordinary
100
Quintessential Properties Limited
Ordinary
100
5. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
22
22
22
22
----
----
----
----
6. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
Balance brought forward Advances/ (credits) to the directors Amounts repaid Balance outstanding
£ £ £ £
Mr & Mrs Bilsland (1,855) 444,847 (100,000) (342,993)
7. Related party transactions
The company has taken advantage of exemption conferred by FRS 102 S1A, removing the requirement to disclose transactions between wholly owned group members. During the year the company provided and received loans from related parties. The balance outstanding due from/(to) related parties at 31 May 2023 are as follows:
2023 2022
£ £
Amount due from entities under common control 95,165 96,512
Outstanding balances with entities are unsecured, interest free and repayable on demand.