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REGISTERED NUMBER: 04797715 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

CHANTRY RETIREMENT HOMES LTD

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CHANTRY RETIREMENT HOMES LTD

COMPANY INFORMATION
for the Year Ended 30 November 2023







DIRECTOR: Mr S Hussein





REGISTERED OFFICE: Euroclydons Nursing Home
Hawthorns
Drybrook
Gloucestershire
GL17 9BW





REGISTERED NUMBER: 04797715 (England and Wales)





ACCOUNTANTS: Bramil Associates LLP
First Floor
677 High Road
North Finchley
London
N12 0DA

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

BALANCE SHEET
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 2,525,041 2,533,388
2,525,042 2,533,389

CURRENT ASSETS
Stocks 3,475 3,525
Debtors 6 1,575 2,630
Cash at bank 16,130 12,348
21,180 18,503
CREDITORS
Amounts falling due within one year 7 99,679 101,825
NET CURRENT LIABILITIES (78,499 ) (83,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,446,543

2,450,067

CREDITORS
Amounts falling due after more than one
year

8

1,384,695

1,215,529
NET ASSETS 1,061,848 1,234,538

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 10 1,534,370 1,534,370
Retained earnings (472,622 ) (299,932 )
SHAREHOLDERS' FUNDS 1,061,848 1,234,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

BALANCE SHEET - continued
30 November 2023


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 director and authorised for issue on 29 July 2024 and were signed by:





Mr S Hussein - Director


CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Chantry Retirement Homes Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 each asset over its estimated useful life.
Freehold property - not provided
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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.

Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 66 (2022 - 65 ) .

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 1,239,000
AMORTISATION
At 1 December 2022
and 30 November 2023 1,238,999
NET BOOK VALUE
At 30 November 2023 1
At 30 November 2022 1

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST OR VALUATION
At 1 December 2022
and 30 November 2023 2,500,000 107,427 61,000 1,826 2,670,253
DEPRECIATION
At 1 December 2022 - 102,758 32,281 1,826 136,865
Charge for year - 1,167 7,180 - 8,347
At 30 November 2023 - 103,925 39,461 1,826 145,212
NET BOOK VALUE
At 30 November 2023 2,500,000 3,502 21,539 - 2,525,041
At 30 November 2022 2,500,000 4,669 28,719 - 2,533,388

Cost or valuation at 30 November 2023 is represented by:

Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
Valuation in 2018 1,534,370 - - - 1,534,370
Cost 965,630 107,427 61,000 1,826 1,135,883
2,500,000 107,427 61,000 1,826 2,670,253

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

5. TANGIBLE FIXED ASSETS - continued

If freehold and land buildings had not been revalued they would have been included at the following historical cost:

30.11.23 30.11.22
£    £   
Cost 965,630 965,630

Value of land in freehold land and buildings 965,630 965,630

Freehold Land and Buildings were valued on an open market basis basis on 30 November 2018 by the Directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade debtors 1,575 1,575
Tax - 1,055
1,575 2,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 59,693 63,737
Trade creditors - 2
Social security and other taxes 19,147 16,396
Other creditors 20,839 21,690
99,679 101,825

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans - 1-2 years 49,626 63,737
Bank loans - 2-5 years 148,878 155,005
Bank loans more 5 yr by instal 150,794 218,130
Directors' loan accounts 1,035,397 778,657
1,384,695 1,215,529

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 150,794 218,130

CHANTRY RETIREMENT HOMES LTD (REGISTERED NUMBER: 04797715)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 November 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 408,991 500,609

Santander PLC has a legal charge, secured on the freehold properties of the company, covering the loan balances outstanding.

10. RESERVES
Revaluation
reserve
£   
At 1 December 2022
and 30 November 2023 1,534,370