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Registration number: 07550724

The Warren Residential Lodge Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 March 2024

 

The Warren Residential Lodge Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 8

 

The Warren Residential Lodge Ltd

Company Information

Director

Mrs K. D. Jackson

Registered office

1st Floor, Unit E2
Fareham Heights
Standard Way
Fareham.
Hampshire
PO16 8XT

Accountants

Palmer, Riley & Co.
Chartered Accountants1st Floor Unit E2
Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT

 

The Warren Residential Lodge Ltd

(Registration number: 07550724)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

34,880

39,992

Current assets

 

Debtors

5

104,197

80,466

Cash at bank and in hand

 

435,239

402,675

 

539,436

483,141

Creditors: Amounts falling due within one year

(51,998)

(66,568)

Net current assets

 

487,438

416,573

Total assets less current liabilities

 

522,318

456,565

Provisions for liabilities

(6,627)

(7,598)

Accruals and deferred income

 

(15,528)

(8,334)

Net assets

 

500,163

440,633

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

499,163

439,633

Shareholders' funds

 

500,163

440,633

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 28 February 2025
 

.........................................
Mrs K. D. Jackson
Director

   
     
 

The Warren Residential Lodge Ltd

(Registration number: 07550724)
Abridged Balance Sheet as at 31 March 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

The Warren Residential Lodge Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor, Unit E2
Fareham Heights
Standard Way
Fareham.
Hampshire
PO16 8XT

These financial statements were authorised for issue by the director on 28 February 2025.

2

Accounting policies

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 abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

The Warren Residential Lodge Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

15% on Net Book Value

Office Equipment

15% on Net Book Value

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

The Warren Residential Lodge Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 30 (2023 - 28).

 

The Warren Residential Lodge Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

77,243

1,419

78,662

Additions

1,860

-

1,860

Disposals

(2,979)

(735)

(3,714)

At 31 March 2024

76,124

684

76,808

Depreciation

At 1 April 2023

37,816

854

38,670

Charge for the year

6,680

292

6,972

Eliminated on disposal

(2,979)

(735)

(3,714)

At 31 March 2024

41,517

411

41,928

Carrying amount

At 31 March 2024

34,607

273

34,880

At 31 March 2023

39,427

565

39,992

On 3rd February 2022 the Freehold of the care home premises was transferred into the Company name for £Nil consideration. This Freehold was valued on the date of the transfer at £2,400,000 by the Director.

5

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

       

7

Dividends

 

The Warren Residential Lodge Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

2024

2023

£

£

Interim dividend of £32.00 (2023 - £33.00) per ordinary share

32,000

33,000

 

 

8

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

Mrs K. D. Jackson

Loan repayable on demand (Interest 2.25% pa)

8,166

13,949

22,115

2023

At 1 April 2022
£

Advances to director
£

At 31 March 2023
£

Mrs K. D. Jackson

Loan repayable on demand (Interest 2.25% pa)

4,000

4,166

8,166

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

48,844

24,063

In respect of the highest paid director:

2024
£

2023
£

Remuneration

48,844

24,063

Summary of transactions with other related parties


Shareholder loan - Mr A. Walsh

As at 31st March 2024 Mr A. Walsh owed the company £21,986 relating to monies drawn in excess of Dividends declared. Interest has been charged on the overdrawn balance at a rate of 2.25% per annum.