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REGISTERED NUMBER: 02857634 (England and Wales)














ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 MARCH 2024

FOR

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 MARCH 2024







DIRECTOR: Mr Theodoros Demetrios Demetriou





REGISTERED OFFICE: 24 Sidney Avenue
Palmers Green
London
N13 4UY





REGISTERED NUMBER: 02857634 (England and Wales)





ACCOUNTANTS: Michael Filiou Ltd
Chartered Certified Accountants
www.michaelfiliou.com
Salisbury House
81 High Street
Potters Bar
Hertfordshire
EN6 5AS

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

ABRIDGED STATEMENT OF FINANCIAL POSITION
28 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 729,028 736,848

CURRENT ASSETS
Debtors 6 282,552 244,583
Cash at bank 17,794 420
300,346 245,003
CREDITORS
Amounts falling due within one year 138,780 143,638
NET CURRENT ASSETS 161,566 101,365
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,594

838,213

CREDITORS
Amounts falling due after more than one year (27,341 ) (32,345 )

PROVISIONS FOR LIABILITIES 9 (155,627 ) (155,627 )
NET ASSETS 707,626 650,241

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 466,880 498,006
Retained earnings 240,646 152,135
SHAREHOLDERS' FUNDS 707,626 650,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
28 MARCH 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 28 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 January 2025 and were signed by:





Mr Theodoros Demetrios Demetriou - Director


GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 MARCH 2024


1. STATUTORY INFORMATION

Greenfields Residential Care Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 02857634 and registered office address is 24 Sidney Avenue, Palmers Green, N13 4UY.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents contract income from local authorities and the clients for providing home care for the residents. Income is recognised as it becomes receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 1% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% straight line

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 MARCH 2024


3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 6 ) .

5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 29 March 2023
and 28 March 2024 862,775
DEPRECIATION
At 29 March 2023 125,927
Charge for year 7,820
At 28 March 2024 133,747
NET BOOK VALUE
At 28 March 2024 729,028
At 28 March 2023 736,848

6. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed by group undertakings 270,758 235,713

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 9,749 9,749

Amounts falling due between one and two years:
Bank loans - 1-2 years 9,971 9,971

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 MARCH 2024


7. LOANS - continued
2024 2023
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years 17,370 22,374

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 37,090 42,094

The company obtained a business loan from Funding Circle on 2 November 2016 of £77,320, and a further loan of £38,665 on 30 March 2017. Both loans were over a 5 year period and secured by a personal guarantee by Mrs Diamanto Demetriou.

The company repaid Funding Circle loans in May 2020.

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 155,627 155,627

Deferred
tax
£   
Balance at 29 March 2023 155,627
Balance at 28 March 2024 155,627

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

GREENFIELDS RESIDENTIAL CARE HOMES
LIMITED (REGISTERED NUMBER: 02857634)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 MARCH 2024


11. RESERVES
Fair
value
reserve
£   
At 29 March 2023 498,006
Revaluation (31,126 )

At 28 March 2024 466,880

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Theodoros Demetrios Demetriou.

He is the ultimate controlling party of the company by virtue of his 100% shareholding of the ordinary share capital in Panesko Limited, the parent company.