REGISTERED NUMBER: |
ABRIDGED UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 MARCH 2024 |
FOR |
GREENFIELDS RESIDENTIAL CARE HOMES |
LIMITED |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
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 |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
Freehold property | - |
Fixtures and fittings | - |
Computer equipment | - |
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 |
5. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 29 March 2023 |
and 28 March 2024 |
DEPRECIATION |
At 29 March 2023 |
Charge for year |
At 28 March 2024 |
NET BOOK VALUE |
At 28 March 2024 |
At 28 March 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
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 |
Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
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 |
Balance at 28 March 2024 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
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 |
Revaluation | (31,126 | ) |
At 28 March 2024 |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |
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. |