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REGISTERED NUMBER: 04215776 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Millreed Lodge Care Limited

Millreed Lodge Care Limited (Registered number: 04215776)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Millreed Lodge Care Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: O Ahmad





SECRETARY: O Ahmad





REGISTERED OFFICE: 52 The Drive
South Woodford
London
E18 2BJ





REGISTERED NUMBER: 04215776 (England and Wales)





ACCOUNTANTS: Oscroft & Co Limited
41 Tyninghame Avenue
Tettenhall
Wolverhampton
West Midlands
WV6 9PP

Millreed Lodge Care Limited (Registered number: 04215776)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 472,931 477,086

CURRENT ASSETS
Stocks 2,058 1,586
Debtors 5 1,426,397 1,330,848
Cash at bank and in hand 139,747 229,300
1,568,202 1,561,734
CREDITORS
Amounts falling due within one year 6 657,742 792,912
NET CURRENT ASSETS 910,460 768,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,383,391

1,245,908

CREDITORS
Amounts falling due after more than one
year

7

(426,686

)

(441,736

)

PROVISIONS FOR LIABILITIES (3,366 ) (2,373 )
NET ASSETS 953,339 801,799

CAPITAL AND RESERVES
Called up share capital 102 102
Retained earnings 953,237 801,697
SHAREHOLDERS' FUNDS 953,339 801,799

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 27 March 2025 and were signed by:





O Ahmad - Director


Millreed Lodge Care Limited (Registered number: 04215776)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Millreed Lodge Care 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. 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.

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 - 1% on cost
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 32 ) .

Millreed Lodge Care Limited (Registered number: 04215776)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 547,818 197,891 745,709
Additions - 6,665 6,665
At 30 June 2024 547,818 204,556 752,374
DEPRECIATION
At 1 July 2023 85,435 183,188 268,623
Charge for year 5,478 5,342 10,820
At 30 June 2024 90,913 188,530 279,443
NET BOOK VALUE
At 30 June 2024 456,905 16,026 472,931
At 30 June 2023 462,383 14,703 477,086

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 36,087 47,428
Amounts owed by group undertakings 1,196,785 1,114,329
Amounts owed by participating interests 189,091 169,091
Other debtors 4,434 -
1,426,397 1,330,848

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 16,558 16,140
Trade creditors 27,666 28,283
Amounts owed to group undertakings 210,667 210,667
Amounts owed to participating interests 344,011 338,482
Taxation and social security 14,715 102,399
Other creditors 44,125 96,941
657,742 792,912

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans 426,686 441,736

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 342,817 361,644

Millreed Lodge Care Limited (Registered number: 04215776)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdraft 10 -
Bank loans 443,234 457,876
443,244 457,876

The bank loan is secured in favour of HSBC UK Bank plc by a legal mortgage from Millreed Lodge Care Limited over the freehold property known as 373 Rochdale Rd, Walsden, Todmorden OL14 6RH.

The bank loan is secured by a debenture and guarantee in favour of HSBC UK Bank plc. by way of a fixed and floating charge over all the assets from Millreed Lodge Care Limited.

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Sage Care Homes (Holdings) Limited. The registered address is 52 The Drive, South Woodford, London, E18 2BJ.