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REGISTERED NUMBER: 06631994 (England and Wales)





















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

GRACE CARE HOMES LIMITED

GRACE CARE HOMES LIMITED (REGISTERED NUMBER: 06631994)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GRACE CARE HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2024







DIRECTORS: P Navaratnarajah
Ms A Robson





SECRETARY: P Navaratnarajah





REGISTERED OFFICE: 16 East Road
Reigate
Surrey
RH2 9EX





REGISTERED NUMBER: 06631994 (England and Wales)





ACCOUNTANTS: McCabe Ford Williams
Chartered Accountants
2 The Links
HERNE BAY
Kent
CT6 7GQ

GRACE CARE HOMES LIMITED (REGISTERED NUMBER: 06631994)

BALANCE SHEET
31ST DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 98,000 122,500
Tangible assets 6 1,141,921 1,161,108
1,239,921 1,283,608

CURRENT ASSETS
Debtors 7 25,728 27,601
Cash at bank 65,833 25,833
91,561 53,434
CREDITORS
Amounts falling due within one year 8 172,928 189,159
NET CURRENT LIABILITIES (81,367 ) (135,725 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,158,554

1,147,883

CREDITORS
Amounts falling due after more than one
year

9

(1,078,994

)

(1,129,342

)

PROVISIONS FOR LIABILITIES (15,026 ) (10,863 )
NET ASSETS 64,534 7,678

CAPITAL AND RESERVES
Called up share capital 10 1,100 1,100
Retained earnings 63,434 6,578
SHAREHOLDERS' FUNDS 64,534 7,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

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

The financial statements were approved by the Board of Directors and authorised for issue on 20th February 2025 and were signed on its behalf by:




P Navaratnarajah - Director


GRACE CARE HOMES LIMITED (REGISTERED NUMBER: 06631994)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2024

1. STATUTORY INFORMATION

Grace Care Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% straight line
Plant and machinery etc - 25% on a straight line basis and 12.5% on reducing balance

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
The Director's have given due consideration to the Going Concern position of the company and, believe there are sufficient resources to ensure the company is able to fulfil liabilities as they fall

GRACE CARE HOMES LIMITED (REGISTERED NUMBER: 06631994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 30 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1st January 2024
and 31st December 2024 490,000 600 490,600
AMORTISATION
At 1st January 2024 367,500 600 368,100
Charge for year 24,500 - 24,500
At 31st December 2024 392,000 600 392,600
NET BOOK VALUE
At 31st December 2024 98,000 - 98,000
At 31st December 2023 122,500 - 122,500

6. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st January 2024 1,267,025 9,502 86,518 19,375 1,382,420
Additions 12,618 - 2,963 2,143 17,724
Disposals - (7,035 ) - - (7,035 )
At 31st December 2024 1,279,643 2,467 89,481 21,518 1,393,109
DEPRECIATION
At 1st January 2024 153,898 4,757 46,677 15,980 221,312
Charge for year 25,593 543 5,350 1,907 33,393
Eliminated on disposal - (3,517 ) - - (3,517 )
At 31st December 2024 179,491 1,783 52,027 17,887 251,188
NET BOOK VALUE
At 31st December 2024 1,100,152 684 37,454 3,631 1,141,921
At 31st December 2023 1,113,127 4,745 39,841 3,395 1,161,108

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,493 17,944
Other debtors 14,235 9,657
25,728 27,601

GRACE CARE HOMES LIMITED (REGISTERED NUMBER: 06631994)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 58,533 88,409
Hire purchase contracts 282 1,127
Trade creditors 1,474 2,301
Taxation and social security 32,146 -
Other creditors 80,493 97,322
172,928 189,159

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 1,028,994 1,079,060
Hire purchase contracts - 282
Other creditors 50,000 50,000
1,078,994 1,129,342

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
1,100 1,100