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Unaudited Financial Statements
Sharon Radcliffe Holdings Limited
For the year ended 30 April 2024





































Registered number: NI632163

 
Sharon Radcliffe Holdings Limited
 

Company Information


Director
Sharon Radcliffe 




Registered number
NI632163



Registered office
19 Seafront Road
Holywood

BT18 0BB




Accountants
Grant Thornton (NI) LLP
Chartered Accountants

12 - 15 Donegall Square West

Belfast

BT1 6JH




Bankers
Dankse Bank
Donegall Square West

Belfast

Co. Antrim

BT1 6JS







 
Sharon Radcliffe Holdings Limited
 

Contents



Page
Accountant's Report
1
Balance Sheet
2 - 3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 10


  
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Independent Accountant's Report to the director of the unaudited financial statements of Sharon Radcliffe Holdings Limited for the year ended 30 April 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Sharon Radcliffe Holdings Limited for the year ended 30 April 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Sharon Radcliffe Holdings Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Sharon Radcliffe Holdings Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sharon Radcliffe Holdings Limited and its directors, as a body, for our work or for this report.


We have carried out this engagement in accordance with the technical guidance issued by Chartered Accountants Ireland ("the Institute") and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 30 April 2024 and you have acknowledged on the Balance Sheet as at 30 April 2024 your duty to ensure that Sharon Radcliffe Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Sharon Radcliffe Holdings Limited is exempt from the statutory audit requirement for the year ended 30 April 2024.

We have not been instructed to carry out an audit or review the financial statements of Sharon Radcliffe Holdings 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 financial statements. 




  


Grant Thornton (NI) LLP

Chartered Accountants
12 - 15 Donegall Square West
Belfast
BT1 6JH







Date:   5 November 2024
Page 1

 
Sharon Radcliffe Holdings Limited
Registered number:NI632163

Balance Sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 5 
1,873,160
1,873,160

  
1,873,160
1,873,160

Current assets
  

Debtors: amounts falling due within one year
 6 
1
1

Cash at bank and in hand
 7 
12,715
12,618

  
12,716
12,619

Creditors: amounts falling due within one year
 8 
(386,234)
(365,748)

Net current liabilities
  
 
 
(373,518)
 
 
(353,129)

Total assets less current liabilities
  
1,499,642
1,520,031

Creditors: amounts falling due after more than one year
 9 
(209,525)
(229,914)

  

Net assets
  
1,290,117
1,290,117


Capital and reserves
  

Called up share capital 
 11 
7,001
7,001

Share premium account
 12 
925,000
925,000

Profit and loss account
 12 
358,116
358,116

  
1,290,117
1,290,117


Page 2

 
Sharon Radcliffe Holdings Limited
Registered number:NI632163

Balance Sheet (continued)
As at 30 April 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 5 November 2024.




Sharon Radcliffe
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
Sharon Radcliffe Holdings Limited
 

Statement of Changes in Equity
For the year ended 30 April 2024


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 May 2023
7,001
925,000
358,116
1,290,117



Profit for the year
-
-
37,323
37,323

Dividends: Equity capital
-
-
(37,323)
(37,323)


At 30 April 2024
7,001
925,000
358,116
1,290,117


The notes on pages 5 to 10 form part of these financial statements.


Statement of Changes in Equity
For the year ended 30 April 2023


Called up share capital
Share premium account
Profit and loss account
Total equity

£
£
£
£

At 1 May 2022
7,001
925,000
358,116
1,290,117



Profit for the year
-
-
70,246
70,246

Dividends: Equity capital
-
-
(70,246)
(70,246)


At 30 April 2023
7,001
925,000
358,116
1,290,117


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
Sharon Radcliffe Holdings Limited
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

1.


General information

Sharon Radcliffe Holdings Limited is a private company limited by shares and incorporated in Northern Ireland. The registered office is:
19 Seafront Road
Holywood
Co. Down 
BT18 0BB
The principal activity of the company is that of a holding company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The financial statements are presented in Sterling (£). 

The following principal accounting policies have been applied:

  
2.2

Exemption from preparing consolidated financial statements

The Company is exempt by virtue of s399 of the Companies Act 2006 from preparing consolidated accounts, as the group is small.  Therefore, the financial statements present the results of the company only and not its group.

 
2.3

Going concern

The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 5

 
Sharon Radcliffe Holdings Limited
 

Notes to the Financial Statements
For the year ended 30 April 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
Sharon Radcliffe Holdings Limited
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

3.


Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
Carrying value of investments
Investment in subsidiary undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the subsidiary together with the director's best estimate of future performance of the subsidiary.


4.


Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
1,873,160



At 30 April 2024
1,873,160





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Class of shares

Holding

Richmond Nursing Homes Limited
19 Seafront Road, Holywood, Down, BT18 OBB
Ordinary
100%

Page 7

 
Sharon Radcliffe Holdings Limited
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

6.


Debtors

2024
2023
£
£


Other debtors
1
1

1
1



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
12,715
12,618

12,715
12,618



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
27,996
32,384

Amounts owed to group undertakings
350,226
326,214

Accruals and deferred income
8,012
7,150

386,234
365,748



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
209,525
229,914

209,525
229,914


Page 8

 
Sharon Radcliffe Holdings Limited
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
27,996
32,384


27,996
32,384

Amounts falling due 1-2 years

Bank loans
30,503
33,810


30,503
33,810

Amounts falling due 2-5 years

Bank loans
108,893
110,631


108,893
110,631

Amounts falling due after more than 5 years

Bank loans
70,129
85,473

70,129
85,473

237,521
262,298


Details of security provided:
By way of fixed charge, (i) all estates or interests in any freehold and leasehold property (present and future) and (ii) all intellectual property rights (present and future). Northern Bank Limited also holds a fixed and floating charge, which covers all the property or undertaking of the company.


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



7,001 (2023 - 7,001) Ordinary shares of £1.00 each
7,001
7,001


Page 9

 
Sharon Radcliffe Holdings Limited
 
 
Notes to the Financial Statements
For the year ended 30 April 2024

12.


Reserves

Share premium account

Includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from Share Premium. 

Profit and loss account

This includes all current and prior period retained profits and losses. 


13.


Related party transactions

The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any subsidiary undertaking which is wholly owned by a member of that group.


14.


Controlling party

The ultimate controlling party in Sharon Radcliffe due to her shareholding in the company. 


Page 10