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COMPANY REGISTRATION NUMBER: 03808801
Garden House Rest Home Limited
Filleted Unaudited Financial Statements
For the year ended
31 July 2023
Garden House Rest Home Limited
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
5
60,383
35,876
Current assets
Stocks
3,638
3,465
Debtors
6
11,409
8,117
Cash at bank and in hand
73,301
91,925
--------
---------
88,348
103,507
Creditors: amounts falling due within one year
7
35,825
73,645
--------
---------
Net current assets
52,523
29,862
---------
--------
Total assets less current liabilities
112,906
65,738
Provisions
Taxation including deferred tax
16,802
6,560
---------
--------
Net assets
96,104
59,178
---------
--------
Capital and reserves
Called up share capital
8
106
106
Profit and loss account
95,998
59,072
--------
--------
Shareholders funds
96,104
59,178
--------
--------
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the financial year ended 31 July 2023, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with s. 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 accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Garden House Rest Home Limited
Statement of Financial Position (continued)
31 July 2023
These financial statements were approved by the board of directors and authorised for issue on 16 April 2024 , and are signed on behalf of the board by:
Mrs J Newton
Director
Company registration number: 03808801
Garden House Rest Home Limited
Notes to the Financial Statements
Year ended 31 July 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 The Old Emporium, Bow Street, Langport, Somerset, TA10 9PQ. The principal place of business is Garden House, Priestlands, Sherborne, Dorset, DT9 4HN.
2. Statement of compliance
These financial statements have been prepared in accordance with FRS102 taking advantage of the disclosure exemptions of FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible 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 of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment, fixtures & fittings
-
10% reducing balance
Computer Equipment
-
33% straight line
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at cost. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2022: 15 ).
5. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 August 2022
85,855
2,498
88,353
Additions
31,165
320
31,485
Disposals
( 495)
( 495)
---------
-------
---------
At 31 July 2023
116,525
2,818
119,343
---------
-------
---------
Depreciation
At 1 August 2022
50,059
2,418
52,477
Charge for the year
6,679
147
6,826
Disposals
( 343)
( 343)
---------
-------
---------
At 31 July 2023
56,395
2,565
58,960
---------
-------
---------
Carrying amount
At 31 July 2023
60,130
253
60,383
---------
-------
---------
At 31 July 2022
35,796
80
35,876
---------
-------
---------
6. Debtors
2023
2022
£
£
Trade debtors
2,143
Other debtors
11,409
5,974
--------
-------
11,409
8,117
--------
-------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
4,925
2,676
Corporation tax
15,708
19,283
Social security and other taxes
7,124
6,408
Other creditors -fees repayable
20,257
Other creditors
8,068
25,021
--------
--------
35,825
73,645
--------
--------
8. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary A shares of £ 1 each
100
100
100
100
Ordinary B shares of £ 1 each
1
1
1
1
Ordinary C shares of £ 1 each
1
1
1
1
Ordinary D shares of £ 1 each
1
1
1
1
Ordinary E shares of £ 1 each
1
1
1
1
Ordinary F shares of £1 each
1
1
1
1
Ordinary G shares of £1 each
1
1
1
1
----
----
----
----
106
106
106
106
----
----
----
----
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Calder
7,856
( 7,856)
Mrs J Newton
5,683
5,683
Miss M A Torkington
( 500)
( 500)
----
--------
-------
-------
13,039
( 7,856)
5,183
----
--------
-------
-------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr C Calder
2,581
( 2,581)
Mrs J Newton
Miss M A Torkington
----
-------
-------
----
2,581
( 2,581)
----
-------
-------
----
Advances to directors were repaid after the year end. Advances are repayable on demand and no interest was charged by the company.
10. Related party transactions
During the year £5,560 was paid to Mr T D Newton for landscaping and garden maintenance work and £1,450 was paid to Mr A Newton for decorating and garden maintenance work. Mr T D Newton is a company director and Mr A Newton is the son of a company director. The transactions were carried out at arms length.