REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
GRACELODGE (HOLDINGS) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH APRIL 2024 |
FOR |
GRACELODGE (HOLDINGS) LIMITED |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 30th April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
GRACELODGE (HOLDINGS) LIMITED |
COMPANY INFORMATION |
for the Year Ended 30th April 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
100 Barbirolli Square |
Manchester |
M2 3BD |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
BALANCE SHEET |
30th April 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
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. |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
BALANCE SHEET - continued |
30th April 2024 |
The financial statements were approved by the director and authorised for issue on |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 30th April 2024 |
1. | STATUTORY INFORMATION |
Gracelodge (Holdings) Limited is a private company, limited by shares, registered in England and Wales, registration number 04819426. The address of the registered office and principal place of business is Grace Lodge Nursing Home, Grace Road, Liverpool, England, L9 2DB. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Gracelodge (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. |
Turnover principally consists of management charges received from other group companies. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Depreciation on tangible fixed assets is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods: |
Freehold land & buildings | - | 2% on cost |
At each balance sheet date, the Company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs. |
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately. |
Taxation |
Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current 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. |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th April 2024 |
2. | ACCOUNTING POLICIES - continued |
Investments |
Investments held as fixed assets are shown at cost less provision for impairment. |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Trade and other creditors |
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. |
Cash and cash equivalents |
Cash and cash equivalents are represented by cash at bank and in hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Land and |
buildings |
£ |
COST |
At 1st May 2023 |
and 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakin |
£ |
COST |
At 1st May 2023 |
and 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
GRACELODGE (HOLDINGS) LIMITED (REGISTERED NUMBER: 04819426) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 30th April 2024 |
5. | FIXED ASSET INVESTMENTS - continued |
The following is subsidiary undertaking of the company: |
Name | Country of incorporation | Class of shares | Holding | Principal Activity |
Oceancross Limited | England and Wales | Ordinary | 100% | Nursing and residential home |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 111,398 | 191,700 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans |
Barclays Bank PLC holds a charge, dated 30 April 2015, creating a floating charge over all the property or undertaking of the group. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1.00 | 100 | 100 |
11. | RELATED PARTY DISCLOSURES |
Included in Other Debtors are amounts owed from companies under common control amounting to £1,155,345 (2023 - £1,155,345). The amounts represent unsecured and interest free loans, repayable on demand. |