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REGISTERED NUMBER: 08583892 (England and Wales)










Unaudited Financial Statements

for the Period 1 April 2022 to 31 May 2023

for

Greenacres Park Ltd

Greenacres Park Ltd (Registered number: 08583892)






Contents of the Financial Statements
for the Period 1 April 2022 to 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Greenacres Park Ltd

Company Information
for the Period 1 April 2022 to 31 May 2023







DIRECTORS: Ms L K Higginbottom
Ms R Higginbottom





REGISTERED OFFICE: Suite 1.16 Great House
Off Rotherham Road
Dinnington
Sheffield
South Yorkshire
S25 3QA





REGISTERED NUMBER: 08583892 (England and Wales)

Greenacres Park Ltd (Registered number: 08583892)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 6,545,000

CURRENT ASSETS
Debtors 5 1,574,168 1,907,258

CREDITORS
Amounts falling due within one year 6 376,710 4,611,800
NET CURRENT ASSETS/(LIABILITIES) 1,197,458 (2,704,542 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,197,458

3,840,458

CREDITORS
Amounts falling due after more than one
year

7

(944,083

)

(1,127,192

)

PROVISIONS FOR LIABILITIES - (571,727 )
NET ASSETS 253,375 2,141,539

CAPITAL AND RESERVES
Called up share capital 6 6
Fair value reserve 9 - 2,629,089
Retained earnings 253,369 (487,556 )
SHAREHOLDERS' FUNDS 253,375 2,141,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Greenacres Park Ltd (Registered number: 08583892)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 3 October 2024 and were signed on its behalf by:





Ms L K Higginbottom - Director


Greenacres Park Ltd (Registered number: 08583892)

Notes to the Financial Statements
for the Period 1 April 2022 to 31 May 2023

1. STATUTORY INFORMATION

Greenacres Park 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.

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

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the period 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 represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods and is recognised in respect of all timing differences; although with certain exceptions. Timing differences are differences between taxable profit and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are only recognised to the extent that it is probable that they will be recoverable 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on investment property (and other non-depreciable tangible fixed assets) is measured using the tax rates and allowances which will apply to the sale of the asset.Amounts of current and deferred tax are generally recognised in profit or loss, except when they relate to items which are recognised in other comprehensive income or directly in equity and in such cases the amounts are also recognised in other comprehensive or equity as the case may be.

Estimated accounts
The accounts are estimated and are subject to amendment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

Greenacres Park Ltd (Registered number: 08583892)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 6,545,000
Disposals (6,545,000 )
At 31 May 2023 -
NET BOOK VALUE
At 31 May 2023 -
At 31 March 2022 6,545,000



5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors - 330,165
Other debtors 14,127 6
14,127 330,171

Amounts falling due after more than one year:
Other debtors 1,560,041 1,577,087

Aggregate amounts 1,574,168 1,907,258

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 4,420,822
Trade creditors 364,080 182,698
Other creditors 12,630 8,280
376,710 4,611,800

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 944,083 1,127,192

Greenacres Park Ltd (Registered number: 08583892)

Notes to the Financial Statements - continued
for the Period 1 April 2022 to 31 May 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 4,420,822

Clydesdale Bank PLC (Trading as both Clydesdale Bank and Yorkshire Bank)

Charge registered 16th May 2016

Security

Intellectual property rights and freehold land under title NT447051 known as Greenacres Grange Care Home, Wingfield Avenue, Worksop, S81 OTA.

This charge was satisfied during the year ended 31st March 2023.

9. RESERVES
Fair
value
reserve
£   
At 1 April 2022 2,629,089
Movement (2,629,089 )

At 31 May 2023 -

10. ULTIMATE CONTROLLING PARTY

There is no overall controlling party.