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Registration number: 10028708

Abbeyfield Grange Residential Home Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Abbeyfield Grange Residential Home Limited

(Registration number: 10028708)

Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3

34,667

47,667

Tangible assets

4

95,218

97,745

 

129,885

145,412

Current assets

 

Debtors

5

62,211

93,698

Cash at bank and in hand

 

60,180

15,836

 

122,391

109,534

Creditors: Amounts falling due within one year

6

(97,408)

(85,525)

Net current assets

 

24,983

24,009

Total assets less current liabilities

 

154,868

169,421

Provisions for liabilities

(775)

(926)

Net assets

 

154,093

168,495

Capital and reserves

 

Called up share capital

100

100

Retained earnings

153,993

168,395

Shareholders' funds

 

154,093

168,495

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 18 December 2024
 

.........................................

Mrs R K Coates

Director

 

Abbeyfield Grange Residential Home Limited

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

1

Accounting policies

Statutory information

Abbeyfield Grange Residential Home Limited is a private company, limited by shares, domiciled in England and Wales, company number 10028708. The registered office is at 148 Burngreave Road, Pitsmoor, Sheffield, S3 9DH.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Revenue is recognised upon the delivery of services.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable. Grants that impose specified future performance-related conditions are recognised in income only when the performance-related conditions are met. Grants received before the revenue recognition criteria are satisfied are recognised as a liability.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

Abbeyfield Grange Residential Home Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

1

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

25% straight line

Freehold property

2% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Other intangibles

10% straight line

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 26 (2023 - 22).

 

Abbeyfield Grange Residential Home Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

3

Intangible assets

Goodwill
 £

Other intangibles
£

Total
£

Cost

At 1 July 2023

129,994

6

130,000

At 30 June 2024

129,994

6

130,000

Amortisation

At 1 July 2023

82,333

-

82,333

Amortisation charge

13,000

-

13,000

At 30 June 2024

95,333

-

95,333

Carrying amount

At 30 June 2024

34,661

6

34,667

At 30 June 2023

47,661

6

47,667

4

Tangible assets

Freehold Property
£

Fixtures, fittings and equipment
£

Total
£

Cost

At 1 July 2023

96,125

27,854

123,979

Additions

-

1,735

1,735

At 30 June 2024

96,125

29,589

125,714

Depreciation

At 1 July 2023

2,083

24,151

26,234

Charge for the year

1,923

2,339

4,262

At 30 June 2024

4,006

26,490

30,496

Carrying amount

At 30 June 2024

92,119

3,099

95,218

At 30 June 2023

94,042

3,703

97,745

 

Abbeyfield Grange Residential Home Limited

Notes to the Financial Statements for the Year Ended 30 June 2024 (continued)

5

Debtors

2024
£

2023
£

Trade debtors

-

45,881

Prepayments and accrued income

47,942

38,896

Other debtors

14,269

8,921

 

62,211

93,698

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

16,034

23,748

Accruals and deferred income

19,675

24,921

Other creditors

61,699

36,856

97,408

85,525

7

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £120,000 (2023 - £185,000).