REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Gabriel Care Homes Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 March 2024 |
for |
Gabriel Care Homes Ltd |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Contents of the Financial Statements |
for the year ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Gabriel Care Homes Ltd |
Company Information |
for the year ended 31 March 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Pacioli House |
9 Brookfield |
Duncan Close |
Northampton |
Northamptonshire |
NN3 6WL |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Balance Sheet - continued |
31 March 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Notes to the Financial Statements |
for the year ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Gabriel Care Homes Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 Section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 Section 1A") and with the Companies Act 2006. The financial statements have been prepared under the historical cost basis. |
The financial statements are presented in Sterling (£) and are prepared to 31 March each year. The company ceased trading on the 22 September 2022 and subsequently became a property letting company. The comparatives have been made up for the period from 23 September 2022 to 31 March 2023 and are therefore not entirely comparable. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
No depreciation is provided. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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. |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Trade and other debtors |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate 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 undiscounted 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 undiscounted cost. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and |
machinery | fittings | Totals |
£ | £ | £ |
COST |
At 1 April 2023 |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 April 2023 |
and 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
Fair value at 31 March 2024 is represented by: |
£ |
Valuation in 2023 | 1,487,233 |
Cost | 1,012,767 |
2,500,000 |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
5. | INVESTMENT PROPERTY - continued |
If the investment had not been revalued it would have been included at the following historical cost: |
2024 | 2023 |
£ | £ |
Cost | 1,012,767 | 1,012,767 |
The directors regard the value of the investment to be an appropriate approximation of the fair value of the property as at the year end, having given due regard to the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location, or condition of the specific asset. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Other creditors |
8. | FINANCIAL INSTRUMENTS |
The company does not have significant exposure to liquidity, cash flow, foreign currency and interest rate risks due to the nature of its trade. Exposure to foreign currency, credit and market risks arise in the normal course of the company's business. These risks are limited by the company's financial management policies and practices described below. |
Credit risk |
The company has exposure to credit risks predominately emanating from its customers. The company's exposure and it's customers credit worthiness is monitored so that any potential problems are detected at an early stage. Regular billing helps to ensure that the exposure to credit risk is minimised. |
Market risk |
There is a market risk associated with the fluctuation in demand for the services provided by the company. Most of this is mitigated by monitoring the markets to ensure that overheads and costs are tailored to the demand for the services offered. |
The company holds no derivative financial instruments at the year end. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
Gabriel Care Homes Ltd (Registered number: 05415389) |
Notes to the Financial Statements - continued |
for the year ended 31 March 2024 |
10. | ULTIMATE CONTROLLING PARTY |
Ultimate control rests with PJ Holdings (Kettering) Ltd, whose principal place of business and registered office is 1 Cranford Road, Barton Seagrave, Kettering, Northants, United Kingdom, NN15 6RH. |