Registration number:
Greenpark Private Nursing Home Limited
for the Year Ended 31 October 2024
Greenpark Private Nursing Home Limited
Contents
Company Information |
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Abridged Balance Sheet |
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Notes to the Unaudited Abridged Financial Statements |
Greenpark Private Nursing Home Limited
Company Information
Directors |
Mrs Bridget Gribben Mr John Gribben Mr Damien Gribben |
Company secretary |
Mr Damien Gribben |
Registered office |
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Solicitors |
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Bankers |
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Accountants |
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Greenpark Private Nursing Home Limited
(Registration number: NI028069)
Abridged Balance Sheet as at 31 October 2024
Note |
2024 |
2023 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Accruals and deferred income |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Retained earnings |
1,312,361 |
1,302,873 |
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Shareholders' funds |
1,313,361 |
1,303,873 |
Greenpark Private Nursing Home Limited
(Registration number: NI028069)
Abridged Balance Sheet as at 31 October 2024
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:
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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
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Company secretary and director
Greenpark Private Nursing Home Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
The principal place of business is:
15 Keady Road
Armagh
Co Armagh
BT60 4AA
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Total |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Amortisation |
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At 1 November 2023 |
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Amortisation charge |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Greenpark Private Nursing Home Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024
Tangible assets |
Land and buildings |
Fixtures, Fittings & Equipment |
Office Equipment |
Total |
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Cost or valuation |
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At 1 November 2023 |
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Additions |
- |
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- |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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Charge for the year |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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At 31 October 2023 |
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Greenpark Private Nursing Home Limited
Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 October 2024
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary Shares of £1 each |
1,000 |
1,000 |
1,000 |
1,000 |
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.