REGISTERED NUMBER: |
MULBERRY CARE HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
REGISTERED NUMBER: |
MULBERRY CARE HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024 |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
MULBERRY CARE HOMES LIMITED |
COMPANY INFORMATION |
for the year ended 31 October 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Vernon House |
40 New North Road |
Huddersfield |
West Yorkshire |
HD1 5LS |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
BALANCE SHEET |
31 October 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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. |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
BALANCE SHEET - continued |
31 October 2024 |
The financial statements were approved by the director and authorised for issue on |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2024 |
1. | STATUTORY INFORMATION |
Mulberry Care Homes Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Mulberry Care Homes 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. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
Basic financial assets, which include other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs. |
Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss. |
Financial liabilities are classified depending on the substance of the contractual arrangements entered into. |
Basic financial liabilities, including other creditors, bank loans, accruals and amounts owed to group undertakings, are initially recognised at transaction price. |
Debt instruments are subsequently measured at amortised cost using the effective interest method. |
Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2024 |
4. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 November 2023 |
and 31 October 2024 |
NET BOOK VALUE |
At 31 October 2024 |
At 31 October 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
MULBERRY CARE HOMES LIMITED (REGISTERED NUMBER: 14499320) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2024 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank loans | 2,853,100 | - |
The bank loan is secured by several guarantees and charges. A personal guarantee of £250,000, plus interest and any applicable charges, is provided by the director. |
The loan is also secured by guarantees from Astley Grange Care Home Ltd, White Rose House Care Home Ltd, and Southfield Court Care Home Ltd, each for £2,900,000, plus interest and any applicable charges. |
In addition, the loan is secured by a fixed and floating charge over all assets, business undertakings, and rights of Astley Grange Care Home Ltd, White Rose House Care Home Ltd, and Southfield Court Care Home Ltd. The loan is further secured by a fixed charge over the properties held by these entities. |
9. | RELATED PARTY DISCLOSURES |
Included within debtors is an amount of £1,291,001 owed from White Rose House Care Home Ltd, and £1,611,680 owed from Southfield Court Care Home Ltd. |
Included within creditors is an amount of £479,716 owed to Astley Grange Care Home Ltd. |
These companies are fully owned subsidiaries of Mulberry Care Homes Ltd. The loans are interest-free and are repayable on demand. |