Registration number:
Osborne Care Holdings Ltd
for the Year Ended 31 March 2024
Osborne Care Holdings Ltd
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Osborne Care Holdings Ltd
(Registration number: 12094543)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Retained earnings |
(2,775) |
(2,308) |
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Shareholders' deficit |
(1,775) |
(1,308) |
For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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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
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Osborne Care Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
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 prepared in sterling, which is the functional currency of the company, and rounded to the nearest £.
Group accounts not prepared
Going concern
At the end of the year the company had net liabilities of £1,775.
After making enquiries at the time of approving the financial statements, the directors have a reasonable expectations that the company has adequate resources to continue in operational existence for the forseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Osborne Care Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year was
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Osborne Care Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Subsidiaries |
£ |
Cost or valuation |
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At 1 April 2023 |
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At 31 March 2024 |
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Provision |
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At 31 March 2024 |
- |
Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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The Old Bakery 9 Church Road, Almondsbury, Bristol, England, BS32 4ED England and Wales |
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Subsidiary undertakings |
Worcester Garden (No.1) Limited The principal activity of Worcester Garden (No.1) Limited is |
Osborne Care Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Debtors |
2024 |
2023 |
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Other debtors |
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Creditors |
Due within one year |
Note |
2024 |
2023 |
Loans and borrowings |
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Amounts due to related parties |
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Accruals |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Current loans and borrowings
2024 |
2023 |
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Bank borrowings |
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Included in loans and borrowings are bank loans totalling £1,466,052 (2023 - £1,531,323). This liability is secured by way of fixed and floating charge over all the property and undertakings of the Company.
Osborne Care Holdings Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of guarantees not included in the balance sheet is £31,875 (2023 - £39,606). An unlimited cross-company composite guarantee is in force with the company's subsidiary, Worcester Garden (No.1) Limited and a related company, Osborne Care Homes Limited, as security for bank borrowings.
Related party transactions |
The company has taken advantage of the exemption within FRS 102 Section 1AC.35 in respect of Related Party Transactions not to disclose transactions or balances with the ultimate parent or any wholly owned subsiduary undertakings of the group.
Loans to related parties
2024 |
Entities with joint control or significant influence |
Total |
At start of period |
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At end of period |
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2023 |
Entities with joint control or significant influence |
Total |
At start of period |
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At end of period |
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