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Registration number: 05337129

Greenhill Grange Residential Home Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Greenhill Grange Residential Home Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Balance Sheet

4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 10

 

Greenhill Grange Residential Home Limited

Company Information

Director

Mr Stephen John Twohig

Company secretary

S P Welsh

Registered office

Greenhill Grange
Catherston Close
Frome
Somerset
BA11 4HR

Accountants

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

 

Greenhill Grange Residential Home Limited

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr Stephen John Twohig

Principal activity

The principal activity of the company is the administration of a residential care home for the elderly

Small companies provision statement

This report has 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.

Approved by the director on 2 December 2024 and signed on its behalf by:

.........................................
S P Welsh
Company secretary

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Greenhill Grange Residential Home Limited
for the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Greenhill Grange Residential Home Limited for the year ending 31 March 2024as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

We have not been instructed to carry out an audit or a review of the accounts of Greenhill Grange Residential Home 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.

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

Oakleys Professional Limited
14 St Owen Street
Hereford
HR1 2PL

2 December 2024

 

Greenhill Grange Residential Home Limited

(Registration number: 05337129)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

2,267,042

826,586

Current assets

 

Debtors

26,311

22,596

Cash at bank and in hand

 

281,917

505,326

 

308,228

527,922

Creditors: Amounts falling due within one year

(217,301)

(176,272)

Net current assets

 

90,927

351,650

Total assets less current liabilities

 

2,357,969

1,178,236

Creditors: Amounts falling due after more than one year

(78,276)

(92,148)

Provisions for liabilities

1,982

716

Net assets

 

2,281,675

1,086,804

Capital and reserves

 

Called up share capital

6

1,600

1,600

Share premium reserve

1,075,000

-

Retained earnings

1,205,075

1,085,204

Shareholders' funds

 

2,281,675

1,086,804

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.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 2 December 2024
 

.........................................
S P Welsh
Company secretary

   
     
 

Greenhill Grange Residential Home Limited

Statement of Changes in Equity for the Year Ended 31 March 2024

Share capital
£

Share premium
£

Profit and loss account
£

Total
£

At 1 April 2023

1,600

-

1,085,204

1,086,804

Profit for the year

-

-

119,871

119,871

Total comprehensive income

-

-

119,871

119,871

New share capital subscribed

-

1,075,000

-

1,075,000

At 31 March 2024

1,600

1,075,000

1,205,075

2,281,675

Share capital
£

Profit and loss account
£

Total
£

At 1 April 2022

1,600

1,123,125

1,124,725

Loss for the year

-

(34,421)

(34,421)

Total comprehensive income

-

(34,421)

(34,421)

Dividends

-

(3,500)

(3,500)

At 31 March 2023

1,600

1,085,204

1,086,804

 

Greenhill Grange Residential Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Greenhill Grange
Catherston Close
Frome
Somerset
BA11 4HR

These financial statements were authorised for issue by the director on 2 December 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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Greenhill Grange Residential Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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

Property lease expenses

15 years straight line

Fixtures, fittings and equipment

25% reducing balance

Motor vehicle

25% 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

full amortised

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.

 

Greenhill Grange Residential Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Stocks

The directors have chosen the fair value model basis for the valuation of biological assets under FRS 102.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 31 (2023 - 15).

 

Greenhill Grange Residential Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

65,000

65,000

At 31 March 2024

65,000

65,000

Amortisation

At 1 April 2023

65,000

65,000

At 31 March 2024

65,000

65,000

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

770,001

175,978

77,495

1,023,474

Additions

1,450,740

5,148

-

1,455,888

At 31 March 2024

2,220,741

181,126

77,495

2,479,362

Depreciation

At 1 April 2023

-

157,867

39,021

196,888

Charge for the year

-

5,814

9,618

15,432

At 31 March 2024

-

163,681

48,639

212,320

Carrying amount

At 31 March 2024

2,220,741

17,445

28,856

2,267,042

At 31 March 2023

770,001

18,111

38,474

826,586

Included within the net book value of land and buildings above is £2,220,741 (2023 - £770,001) in respect of freehold land and buildings.
 

6

Share capital

Allotted, called up and fully paid shares

 

Greenhill Grange Residential Home Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,600

1,600

1,600

1,600