Gate Cottage Rest Home Limited 05549709 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is Residential care activities for the elderly and disabled Digita Accounts Production Advanced 6.30.9574.0 true 05549709 2022-11-01 2023-10-31 05549709 2023-10-31 05549709 core:CurrentFinancialInstruments 2023-10-31 05549709 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 05549709 core:FurnitureFittingsToolsEquipment 2023-10-31 05549709 core:LandBuildings 2023-10-31 05549709 core:OtherPropertyPlantEquipment 2023-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-10-31 05549709 bus:SmallEntities 2022-11-01 2023-10-31 05549709 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 05549709 bus:FilletedAccounts 2022-11-01 2023-10-31 05549709 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 05549709 bus:RegisteredOffice 2022-11-01 2023-10-31 05549709 bus:Director1 2022-11-01 2023-10-31 05549709 bus:Director2 2022-11-01 2023-10-31 05549709 bus:Director3 2022-11-01 2023-10-31 05549709 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 05549709 core:Buildings 2022-11-01 2023-10-31 05549709 core:ComputerEquipment 2022-11-01 2023-10-31 05549709 core:FurnitureFittingsToolsEquipment 2022-11-01 2023-10-31 05549709 core:LandBuildings 2022-11-01 2023-10-31 05549709 core:OtherPropertyPlantEquipment 2022-11-01 2023-10-31 05549709 core:PlantMachinery 2022-11-01 2023-10-31 05549709 core:KeyManagementPersonnel 2022-11-01 2023-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-11-01 2023-10-31 05549709 countries:EnglandWales 2022-11-01 2023-10-31 05549709 2022-10-31 05549709 core:FurnitureFittingsToolsEquipment 2022-10-31 05549709 core:LandBuildings 2022-10-31 05549709 core:OtherPropertyPlantEquipment 2022-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 05549709 2021-11-01 2022-10-31 05549709 2022-10-31 05549709 core:CurrentFinancialInstruments 2022-10-31 05549709 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 05549709 core:FurnitureFittingsToolsEquipment 2022-10-31 05549709 core:LandBuildings 2022-10-31 05549709 core:OtherPropertyPlantEquipment 2022-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-11-01 2022-10-31 05549709 2021-10-31 05549709 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 05549709

Gate Cottage Rest Home Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

image-name
 

Gate Cottage Rest Home Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Gate Cottage Rest Home Limited

Company Information

Directors

M Sodeau

MM Sodeau

BG Sodeau

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Gate Cottage Rest Home Limited

(Registration number: 05549709)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

5

169,370

164,306

Current assets

 

Debtors

6

183,922

83,392

Cash at bank and in hand

 

103,195

142,040

 

287,117

225,432

Creditors: Amounts falling due within one year

7

(31,472)

(44,090)

Net current assets

 

255,645

181,342

Total assets less current liabilities

 

425,015

345,648

Provisions for liabilities

(18,300)

(16,683)

Net assets

 

406,715

328,965

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

406,615

328,865

Shareholders' funds

 

406,715

328,965

For the financial year ending 31 October 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:
 

 

Gate Cottage Rest Home Limited

(Registration number: 05549709)
Balance Sheet as at 31 October 2023

.........................................
M Sodeau
Director

   
     
 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the Board on 31 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost , less estimated ressidual value of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

10% Reducing balance

Computer equipment

25% Reducing balance

Building improvements

4% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

22

24

22

24

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

8,685

7,963

 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible Assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

102,663

4,114

189,279

296,056

Additions

-

947

12,802

13,749

At 31 October 2023

102,663

5,061

202,081

309,805

Depreciation

At 1 November 2022

4,786

3,333

123,631

131,750

Charge for the year

408

432

7,845

8,685

At 31 October 2023

5,194

3,765

131,476

140,435

Carrying amount

At 31 October 2023

97,469

1,296

70,605

169,370

At 31 October 2022

97,877

781

65,648

164,306

6

Debtors

Current

2023
£

2022
£

Prepayments

4,365

3,683

Other debtors

179,557

79,709

 

183,922

83,392

 

Gate Cottage Rest Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

275

2,106

Taxation and social security

27,412

38,843

Accruals and deferred income

2,334

2,000

Other creditors

1,451

1,141

31,472

44,090

8

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

79,708

79,708

Advanced

176,356

176,356

Repaid

(79,708)

(79,708)

Interest transactions

3,201

3,201

At end of period

179,557

179,557

2022

Key management
£

Total
£

At start of period

71,878

71,878

Advanced

79,708

79,708

Repaid

(71,878)

(71,878)

At end of period

79,708

79,708

Terms of loans to related parties

During the year the company provided the directors with a loan, which carried an interest rate of 2.5%, was unsecured and repayable on demand.