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REGISTERED NUMBER: 06589961 (England and Wales)














Financial Statements

for the Year Ended 30 April 2024

for

Gracefield Health Care Limited

Gracefield Health Care Limited (Registered number: 06589961)

Contents of the Financial Statements
for the Year Ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gracefield Health Care Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: Mrs P A Okafor
Miss C Okafor





REGISTERED OFFICE: Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP





REGISTERED NUMBER: 06589961 (England and Wales)





ACCOUNTANTS: SB&P
Chartered Accountants
Oriel House
2-8 Oriel Road
Bootle
Liverpool
Merseyside
L20 7EP

Gracefield Health Care Limited (Registered number: 06589961)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 267,244 170,876

CURRENT ASSETS
Debtors 5 52,199 40,202
Cash at bank and in hand 623,426 650,796
675,625 690,998
CREDITORS
Amounts falling due within one year 6 382,524 340,510
NET CURRENT ASSETS 293,101 350,488
TOTAL ASSETS LESS CURRENT LIABILITIES 560,345 521,364

CREDITORS
Amounts falling due after more than one year 7 41,419 88,901
NET ASSETS 518,926 432,463

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 518,826 432,363
SHAREHOLDERS' FUNDS 518,926 432,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Gracefield Health Care Limited (Registered number: 06589961)

Balance Sheet - continued
30 April 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





Mrs P A Okafor - Director


Gracefield Health Care Limited (Registered number: 06589961)

Notes to the Financial Statements
for the Year Ended 30 April 2024


1. STATUTORY INFORMATION

Gracefield Health Care Limited 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 represents the fair value of services provided under contracts with clients to the extent that there is a right to consideration. It is measured at the fair value of the consideration due.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 30 ) .

Gracefield Health Care Limited (Registered number: 06589961)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 May 2023 145,115 57,316 37,819 240,250
Additions 97,240 23,606 - 120,846
Disposals - - (37,819 ) (37,819 )
At 30 April 2024 242,355 80,922 - 323,277
DEPRECIATION
At 1 May 2023 - 51,498 17,876 69,374
Charge for year - 4,535 - 4,535
Eliminated on disposal - - (17,876 ) (17,876 )
At 30 April 2024 - 56,033 - 56,033
NET BOOK VALUE
At 30 April 2024 242,355 24,889 - 267,244
At 30 April 2023 145,115 5,818 19,943 170,876

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 48,056 38,984
Other debtors 4,143 1,218
52,199 40,202

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 47,482 45,171
Taxation and social security 58,285 7,680
Other creditors 276,757 287,659
382,524 340,510

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans 41,419 88,901

Gracefield Health Care Limited (Registered number: 06589961)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 88,901 134,072

The bank loan is secured.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
100 Ordinary £1 100 100