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Registration number: NI028069

Greenpark Private Nursing Home Limited

Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 October 2024

 

Greenpark Private Nursing Home Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 9

 

Greenpark Private Nursing Home Limited

Company Information

Directors

Mrs Bridget Gribben

Mr John Gribben

Mr Damien Gribben

Company secretary

Mr Damien Gribben

Registered office

Kennedy & Co
21 Kilmorey Street
Newry
Co Down
BT34 2DF

Solicitors

Lennon, Toner & O'Neill
54 Upper English Street
Armagh
Co. Armagh
BT61 7LG

Bankers

AIB
18 - 20 Scotch Street
Dungannon
Co Tyrone
BT70 1AZ

Accountants

Kennedy & Co
Chartered Certified Accountants21 Kilmorey Street
Newry
Co Down
BT34 2DF

 

Greenpark Private Nursing Home Limited

(Registration number: NI028069)
Abridged Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,167

1,751

Tangible assets

5

772,965

792,238

 

774,132

793,989

Current assets

 

Stocks

2,100

2,000

Debtors

810,338

819,969

Cash at bank and in hand

 

65,007

98,181

 

877,445

920,150

Prepayments and accrued income

 

8,163

6,873

Creditors: Amounts falling due within one year

(179,485)

(157,703)

Net current assets

 

706,123

769,320

Total assets less current liabilities

 

1,480,255

1,563,309

Creditors: Amounts falling due after more than one year

(41,351)

(118,377)

Provisions for liabilities

(6,672)

(7,276)

Accruals and deferred income

 

(118,871)

(133,783)

Net assets

 

1,313,361

1,303,873

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

1,312,361

1,302,873

Shareholders' funds

 

1,313,361

1,303,873

 

Greenpark Private Nursing Home Limited

(Registration number: NI028069)
Abridged Balance Sheet as at 31 October 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

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

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

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.

The financial statements were approved and authorised by the Board on 15 April 2025 and signed on its behalf by:
 

.............................................................................
Mr Damien Gribben
Company secretary and director

 

Greenpark Private Nursing Home Limited

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

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
Kennedy & Co
21 Kilmorey Street
Newry
Co Down
BT34 2DF

The principal place of business is:
15 Keady Road
Armagh
Co Armagh
BT60 4AA

These financial statements were authorised for issue by the Board on 15 April 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are presented in sterling which is the functional currency of the company.

All members have consented to the abridgement of these financial statements.

 

Greenpark Private Nursing Home Limited

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable net of trade discounts. The policies adopted for the recognition of turnover are as follows:


Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from accommodation and nursing of the elderly is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the amount due by the residents for their accomodation up to the balance sheet date.

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

 

Greenpark Private Nursing Home Limited

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

Depreciation

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Asset class

Depreciation method and rate

Buildings

2% Straight Line Basis

Fixtures, Fittings and Equipment

10% Straight Line Basis

Office Equipment

20% Reducing Balance

Amortisation

Intangible assets are amortised on a straight line basis over their useful lives. The useful lives of intangible assets are as follows:

Asset class

Amortisation method and rate

Computer software

5 Years

Trade debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Trade creditors

Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and Borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised costs using the effective interest methods, less impairment.

Provisions

Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. This figure is included in accruals.

Leases

Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

 

Greenpark Private Nursing Home Limited

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

Defined contribution pension obligation

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 85 (2023 - 79).

4

Intangible assets

Total
£

Cost or valuation

At 1 November 2023

2,919

At 31 October 2024

2,919

Amortisation

At 1 November 2023

1,168

Amortisation charge

584

At 31 October 2024

1,752

Carrying amount

At 31 October 2024

1,167

At 31 October 2023

1,751

 

Greenpark Private Nursing Home Limited

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

5

Tangible assets

Land and buildings
£

Fixtures, Fittings & Equipment
£

Office Equipment
£

Total
£

Cost or valuation

At 1 November 2023

830,402

42,826

6,733

879,961

Additions

-

2,760

-

2,760

At 31 October 2024

830,402

45,586

6,733

882,721

Depreciation

At 1 November 2023

66,354

18,968

2,401

87,723

Charge for the year

16,608

4,558

867

22,033

At 31 October 2024

82,962

23,526

3,268

109,756

Carrying amount

At 31 October 2024

747,440

22,060

3,465

772,965

At 31 October 2023

764,048

23,858

4,332

792,238

 

Greenpark Private Nursing Home Limited

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

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

1,000

1,000

1,000

1,000

       

7

Related party transactions

At the year end, the company is owed an unsecured loan of £765,000 by Armagh Construction Limited which is a company that is controlled by a director. This loan is interest free and is repayable on demand. This amount is included in debtors on the balance sheet.