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REGISTERED NUMBER: 05332576 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

BEDALE GRANGE (TFP) LIMITED

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


BEDALE GRANGE (TFP) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: R J D Inman
C N Spencer



SECRETARY: R J D Inman



REGISTERED OFFICE: Oak Trees Care Home
Main Street
Alne
North Yorkshire
YO61 1TB



REGISTERED NUMBER: 05332576 (England and Wales)



SENIOR STATUTORY AUDITOR: Diccon Thornely



AUDITORS: Sedulo Audit Limited
Statutory Auditors
605 Albert House
256-260 Old Street
London
EC1V 9DD

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

BALANCE SHEET
31 MARCH 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 859,660 866,365
859,660 866,365

CURRENT ASSETS
Stocks 500 500
Debtors 6 57,567 75,875
Cash at bank 80,478 50,628
138,545 127,003
CREDITORS
Amounts falling due within one year 7 101,851 262,965
NET CURRENT ASSETS/(LIABILITIES) 36,694 (135,962 )
TOTAL ASSETS LESS CURRENT LIABILITIES 896,354 730,403

CREDITORS
Amounts falling due after more than one
year

8

(163,707

)

-

PROVISIONS FOR LIABILITIES 10 (141,450 ) (108,869 )
NET ASSETS 591,197 621,534

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11 591,097 621,434
SHAREHOLDERS' FUNDS 591,197 621,534

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 28 March 2024 and were signed on its behalf by:





R J D Inman - Director


BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023


1. STATUTORY INFORMATION

Bedale Grange (TFP) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company during the year was the operation of a care home.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements - to update
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 as modified by the revaluation of certain assets.

The financial statements are prepared in Sterling (GBP), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern
During the year, the aftermath of the Covid pandemic saw new operational procedures put in place within the business to minimise the effects of the coronavirus pandemic and any new strains. The directors are continually assessing the continuing impact of this and other situations on the company, in line with guidance issued and following examples of best practice.

Occupancy levels remained at near to full capacity throughout the year and remain so into the 2023/24 year; with demand for residential places remaining strong. Accordingly, since the year end the company has been profitable and is forecasting continued profitability through the next year.

Trading was cash generative across the year and has been cash generative since the year end. The company utilises short term and long term working capital facilities from its bankers and reports monthly to them as part of the terms of those and wider group facilities, and has received an undertaking from its parent company that funds will be made available from the group as and when required.

The Directors have taken a review of the home, and grounds, and launched into a capital investment programme, looking at investing in new facilities, to ensure the residents remain comfortable in their stay with us and the homes are of an expected standard.

Accordingly, at the time of signing these accounts the directors are of the opinion that the company will remain viable for the foreseeable future and therefore these financial statements have been prepared on the going concern basis.

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Significant judgements and estimates
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Fixed Assets

Freehold property is depreciated over 100 years, whilst plant and furnishings and other assets are depreciated at 10%-33% per annum..

The Directors judge the policy in relation to freehold property to be acceptable as the property requires regular upkeep in order for the company to continue to trade. This therefore means that the property has a longer than usual life span, and hence the decision was not made to use a 25 - 50yr depreciation span.

Plant, Furnishings and other assets are written off at differentiating values due to their use and replacement, for example a bath hoist would be expected to last 5 to 7 years, where as an oven or dishwasher (both high use items) would span of 3 years.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Acquired goodwill is written off in equal instalments over its estimated useful economic life.

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 the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 1% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% -33% on cost

Tangible fixed assets are initially recognised at historic cost, which includes expenditure incurred in bringing the asset to its present location and condition.

They are assessed at each reporting date for evidence of impairment. Impairment losses are recognised for the amount by which the carrying amount exceeds recoverable amount. Assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that previously recognised impairment losses may no longer exist or be reduced, and any reversal recognised in the accounts.

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost, and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classified as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially recognised at present value of future cash flows and subsequently at amortised costs using the effective interest method. Basic financial liabilities classified as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amounts reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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 23 (2022 - 23 ) .

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 90,000
AMORTISATION
At 1 April 2022
and 31 March 2023 90,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2022 900,000 13,663 29,644 943,307
Additions - 19,539 2,361 21,900
Disposals - (12,522 ) - (12,522 )
At 31 March 2023 900,000 20,680 32,005 952,685
DEPRECIATION
At 1 April 2022 54,000 274 22,668 76,942
Charge for year 9,000 3,562 3,521 16,083
At 31 March 2023 63,000 3,836 26,189 93,025
NET BOOK VALUE
At 31 March 2023 837,000 16,844 5,816 859,660
At 31 March 2022 846,000 13,389 6,976 866,365

Cost or valuation at 31 March 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
Valuation in 2023 699,001 - - 699,001
Cost 200,999 20,680 32,005 253,684
900,000 20,680 32,005 952,685

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 15,878 17,016
Amounts owed by group undertakings 22,052 55,323
Other debtors 19,637 3,536
57,567 75,875

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 8,159 177,795
Trade creditors 28,908 28,821
Amounts owed to group undertakings 8,424 -
Taxation and social security 9,014 7,588
Other creditors 47,346 48,761
101,851 262,965

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans 163,707 -

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 years 126,200 -

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 171,866 177,795

The bank loan is secured by way of a fixed charge over the company's freehold property.

10. PROVISIONS FOR LIABILITIES
31.3.23 31.3.22
£    £   
Deferred tax 141,450 108,869

BEDALE GRANGE (TFP) LIMITED (REGISTERED NUMBER: 05332576)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023


10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 108,869
Charge to Income Statement during year 32,581
Balance at 31 March 2023 141,450

11. RESERVES

Included within retained earnings at 31 March 2023 is a non-distributable amount in the sum of £514,071 (2022: £552,061) in relation to unrealised gains net of taxation on revaluation of the company's property.

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

The Report of the Auditors was unqualified

Diccon Thornely (Senior Statutory Auditor)
for and on behalf of Sedulo Audit Limited

13. RELATED PARTY DISCLOSURES

Included in debtors is an amount due from The Fisher Partnership Limited, a fellow group company, of £22,052 (2022: £45,148). No interest is chargeable on this balance.

Included in creditors is an amount due to The TFP Group Limited, the immediate parent company, of £8,424 (2022: £9,575 debtor). No interest is chargeable on this balance.