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REGISTERED NUMBER: 07503682 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

CEDARWOOD RESIDENTIAL CARE LTD

CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CEDARWOOD RESIDENTIAL CARE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: B Hadley
S Hancocks
K Hadley





REGISTERED OFFICE: St Anne's Nursing Home
Crossway Green
Chepstow
Blaenau Gwent
NP16 5LX





REGISTERED NUMBER: 07503682 (England and Wales)





ACCOUNTANTS: LMDB Accountants
Chartered Certified Accountants
Railview Lofts
19c Commercial Road
Eastbourne
East Sussex
BN21 3XE

CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,833,368 1,833,368

CURRENT ASSETS
Debtors 5 673,839 659,011
Cash at bank 207,099 239,440
880,938 898,451
CREDITORS
Amounts falling due within one year 6 90,477 90,551
NET CURRENT ASSETS 790,461 807,900
TOTAL ASSETS LESS CURRENT LIABILITIES 2,623,829 2,641,268

CREDITORS
Amounts falling due after more than one
year

7

1,553,268

1,641,297
NET ASSETS 1,070,561 999,971

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,070,461 999,871
SHAREHOLDERS' FUNDS 1,070,561 999,971

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 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.

CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

BALANCE SHEET - continued
31 MAY 2024


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 12 December 2024 and were signed on its behalf by:





B Hadley - Director


CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

Cedarwood Residential Care 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments in subsidiary undertakings are recognised at cost subject to FRS102 intergroup loan fair value adjustments.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares in non-group companies which are measured at fair value. Changes to fair value are recognised in the profit & loss account other than initial discounts of inter group loans which are recognised as additions to fixed asset investment in the subsidiary company.

Taxation
Taxation for the year 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.


CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 1,833,368
NET BOOK VALUE
At 31 May 2024 1,833,368
At 31 May 2023 1,833,368

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 673,839 659,011

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 87,927 87,825
Directors' current accounts 256 256
Accrued expenses 2,294 2,470
90,477 90,551

CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 1-2 years 87,927 87,825
Bank loans - 2-5 years 263,782 263,475
Bank loans repayable after
more than 5 years by
instalment 293,559 381,997
Loan from related undertaking
repayable after 5 years 908,000 908,000
1,553,268 1,641,297

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Loan from related undertaking
repayable after 5 years 908,000 908,000
908,000 908,000

Repayable by instalments
Bank loans repayable after
more than 5 years by
instalment 293,559 381,997
293,559 381,997

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 733,195 821,122

The bank borrowing is secured by a fixed and floating charge over the assets of the subsidiary company, a first legal charge over the freehold property owned by that company, a charge over the shares of the company and the subsidiary, a guarantee provided by the subsidiary.

CEDARWOOD RESIDENTIAL CARE LTD (REGISTERED NUMBER: 07503682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

9. FINANCIAL INSTRUMENTS - INTER GROUP LOANS

In accordance with Financial Reporting Standard 102, inter group loans have been treated as basic financial instruments. As such loans are interest free, the amortised cost basis has been applied using a discount rate of 2.25% and an assumed repayment period of 15 years commencing 03/09/2015.

The deemed fair value interest income for the year resulting from the above recognised in the Profit & Loss Account is £14,828 (2023: £14,501).

The deemed fair value interest is recognised in the Profit & Loss Account during each accounting period so that by the end of the loan period the fair value adjustments to the inter group loan will be fully written off.

The initial fair value discount was treated as an adjustment to the fixed asset investment in accordance with Financial Reporting Standard 102.

The fair value of the inter group loan at the balance sheet date is shown in the note to the financial statements Debtors: Amounts Falling Due After More Than One Year. The value of the loan based on cost at the balance sheet date was £774,412 (2023: £774,412).

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
45 A Ordinary £1 45 45
50 B Ordinary £1 50 50
5 C Ordinary £1 5 5
100 100