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Company No: 04419372 (England and Wales)

OGWELL GRANGE LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

OGWELL GRANGE LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

OGWELL GRANGE LIMITED

BALANCE SHEET

As at 30 June 2024
OGWELL GRANGE LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 30.06.2024 30.06.2023
£ £
Fixed assets
Tangible assets 4 1,176 2,352
1,176 2,352
Current assets
Stocks 3,000 3,000
Debtors 529,967 340,451
Cash at bank and in hand 60,455 157,467
593,422 500,918
Creditors: amounts falling due within one year 5 ( 191,608) ( 187,993)
Net current assets 401,814 312,925
Total assets less current liabilities 402,990 315,277
Net assets 402,990 315,277
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 402,890 315,177
Total shareholder's funds 402,990 315,277

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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Ogwell Grange Limited (registered number: 04419372) were approved and authorised for issue by the Director on 20 February 2025. They were signed on its behalf by:

Mr R A Sutton
Director
OGWELL GRANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
OGWELL GRANGE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Ogwell Grange Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ogwell Grange Rectory Road, Ogwell, Newton Abbot, TQ12 6AH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services made during the year in the ordinary course of the company's activities. Turnover is shown net of rebates and discounts.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 4 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Vehicles 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

30.06.2024 30.06.2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 74 74

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 July 2023 55,000 55,000
At 30 June 2024 55,000 55,000
Accumulated amortisation
At 01 July 2023 55,000 55,000
At 30 June 2024 55,000 55,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 0 0

4. Tangible assets

Vehicles Total
£ £
Cost
At 01 July 2023 53,944 53,944
At 30 June 2024 53,944 53,944
Accumulated depreciation
At 01 July 2023 51,592 51,592
Charge for the financial year 1,176 1,176
At 30 June 2024 52,768 52,768
Net book value
At 30 June 2024 1,176 1,176
At 30 June 2023 2,352 2,352

5. Creditors: amounts falling due within one year

30.06.2024 30.06.2023
£ £
Trade creditors 21,455 29,497
Amounts owed to director 20,000 1,999
Accruals 57,153 61,158
Deferred tax liability 0 25,169
Taxation and social security 80,434 64,370
Other creditors 12,566 5,800
191,608 187,993

6. Called-up share capital

30.06.2024 30.06.2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100