The Grange (Sandiacre) Limited 06969999 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is the provision of residential care facilities for the elderly Digita Accounts Production Advanced 6.30.9574.0 true true 06969999 2023-01-01 2023-12-31 06969999 2023-12-31 06969999 core:RetainedEarningsAccumulatedLosses 2023-12-31 06969999 core:ShareCapital 2023-12-31 06969999 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 06969999 core:Non-currentFinancialInstruments core:AfterOneYear 2023-12-31 06969999 core:Goodwill 2023-12-31 06969999 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 06969999 core:FurnitureFittingsToolsEquipment 2023-12-31 06969999 core:LandBuildings 2023-12-31 06969999 core:OtherPropertyPlantEquipment 2023-12-31 06969999 bus:SmallEntities 2023-01-01 2023-12-31 06969999 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06969999 bus:FilletedAccounts 2023-01-01 2023-12-31 06969999 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06969999 bus:RegisteredOffice 2023-01-01 2023-12-31 06969999 bus:CompanySecretaryDirector1 2023-01-01 2023-12-31 06969999 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06969999 bus:Agent1 2023-01-01 2023-12-31 06969999 core:Goodwill 2023-01-01 2023-12-31 06969999 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 06969999 core:FurnitureFittings 2023-01-01 2023-12-31 06969999 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 06969999 core:LandBuildings 2023-01-01 2023-12-31 06969999 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 06969999 core:ToolsEquipment 2023-01-01 2023-12-31 06969999 countries:EnglandWales 2023-01-01 2023-12-31 06969999 2022-12-31 06969999 core:Goodwill 2022-12-31 06969999 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 06969999 core:FurnitureFittingsToolsEquipment 2022-12-31 06969999 core:LandBuildings 2022-12-31 06969999 core:OtherPropertyPlantEquipment 2022-12-31 06969999 2022-01-01 2022-12-31 06969999 2022-12-31 06969999 core:RetainedEarningsAccumulatedLosses 2022-12-31 06969999 core:ShareCapital 2022-12-31 06969999 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 06969999 core:Non-currentFinancialInstruments core:AfterOneYear 2022-12-31 06969999 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 06969999 core:FurnitureFittingsToolsEquipment 2022-12-31 06969999 core:LandBuildings 2022-12-31 06969999 core:OtherPropertyPlantEquipment 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 06969999

The Grange (Sandiacre) Limited

Unaudited Abridged Financial Statements

(Companies House version)

for the Year Ended 31 December 2023

 

The Grange (Sandiacre) Limited

Contents

Accountants' Report

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
The Grange (Sandiacre) Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of The Grange (Sandiacre) Limited for the year ended 31 December 2023 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of The Grange (Sandiacre) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of The Grange (Sandiacre) Limited and state those matters that we have agreed to state to the Board of Directors of The Grange (Sandiacre) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Grange (Sandiacre) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that The Grange (Sandiacre) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of The Grange (Sandiacre) Limited. You consider that The Grange (Sandiacre) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of The Grange (Sandiacre) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Page Kirk LLP
Chartered Accountants
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

16 October 2024

 

The Grange (Sandiacre) Limited

(Registration number: 06969999)
Abridged Balance Sheet as at 31 December 2023

Note

2023

2022
£

   

£

£

   

Fixed assets

   

 

Tangible assets

5

 

1,307,154

 

1,281,400

Current assets

   

 

Stocks

1,800

 

1,800

 

Cash at bank and in hand

 

52,304

 

80,498

 

 

54,104

 

82,298

 

Prepayments and accrued income

 

-

 

211

 

Creditors: Amounts falling due within one year

(212,955)

 

(197,087)

 

Net current liabilities

   

(158,851)

 

(114,578)

Total assets less current liabilities

   

1,148,303

 

1,166,822

Creditors: Amounts falling due after more than one year

 

(662,157)

 

(737,950)

Provisions for liabilities

 

(14,669)

 

(7,792)

Accruals and deferred income

   

(56,130)

 

(96,037)

Net assets

   

415,347

 

325,043

Capital and reserves

   

 

Called up share capital

2

 

2

 

Profit and loss account

415,345

 

325,041

 

Shareholders' funds

   

415,347

 

325,043

 

The Grange (Sandiacre) Limited

(Registration number: 06969999)
Abridged Balance Sheet as at 31 December 2023

For the financial year ending 31 December 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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) 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 16 October 2024 and signed on its behalf by:
 

.........................................
Mr B Chambers
Company secretary and director

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 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:
Sherwood House
7 Gregory Boulevard
Nottingham
NG7 6LB

These financial statements were authorised for issue by the Board on 16 October 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.

Basis of preparation of financial statements

These financial statements were prepared under the historical cost convention in accordance with applicable United Kingdom accounting standards, including the Financial Reporting Standard 102 ('FRS 102') Section 1A small entities, and with the Companies Act 2006.

Going concern

At the balance sheet date the company had net current liabilities of £210,615 (2021 - £198,990). The financial statements have been prepared on a going concern basis due to the continued financial support from the owners/directors 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.

Government grants

Government grants are accounted for using the accrual model.

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.

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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 of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

15% reducing balance

Office Equipment

15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

12.5% 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.

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

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.

3

Staff numbers

During the year, the average number of employees at the company was 42 (2022 - 39).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

800,000

800,000

At 31 December 2023

800,000

800,000

Amortisation

At 1 January 2023

800,000

800,000

At 31 December 2023

800,000

800,000

Carrying amount

At 31 December 2023

-

-

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

5

Tangible assets

Land and buildings
£

Fixtures and fittings
 £

Properties under construction
 £

Office equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,227,857

123,201

-

56,925

1,407,983

Additions

-

31,331

5,375

-

36,706

At 31 December 2023

1,227,857

154,532

5,375

56,925

1,444,689

Depreciation

At 1 January 2023

-

78,691

-

47,892

126,583

Charge for the year

-

9,596

-

1,356

10,952

At 31 December 2023

-

88,287

-

49,248

137,535

Carrying amount

At 31 December 2023

1,227,857

66,245

5,375

7,677

1,307,154

At 31 December 2022

1,227,857

44,510

-

9,033

1,281,400

 

The Grange (Sandiacre) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 December 2023

6

Creditors

Creditors: amounts falling due within one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £77,926 (2022 - £79,217).

Creditors: amounts falling due after more than one year

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £662,157 (2022 - £737,950).

7 Fixed and floating charges

Alliance & Leicester plc holds a fixed and floating charge dated 22 March 2010 over all of the company property and assets present and future, secured against all monies due or to become due from the company to the charges.

Alliance & Leicester plc holds a legal charge dated 22 March 2010 over the land and property owned by the company, secured against all monies due from the compay to the charges.