Company Registration No. 04707789 (England and Wales)
ANNE GRAY CARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
ANNE GRAY CARE LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ANNE GRAY CARE LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
6,392
6,151
Current assets
Stocks
2,000
2,000
Debtors
5
226,934
186,826
Cash at bank and in hand
2,010
2,003
230,944
190,829
Creditors: amounts falling due within one year
6
(266,994)
(180,478)
Net current (liabilities)/assets
(36,050)
10,351
Total assets less current liabilities
(29,658)
16,502
Creditors: amounts falling due after more than one year
7
(20,560)
(30,201)
Provisions for liabilities
(803)
(1,231)
Net liabilities
(51,021)
(14,930)
Capital and reserves
Called up share capital
940
940
Capital redemption reserve
25
25
Profit and loss reserves
(51,986)
(15,895)
Total equity
(51,021)
(14,930)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

ANNE GRAY CARE LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr Z Shaikh
Director
Company Registration No. 04707789
ANNE GRAY CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Anne Gray Care Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Larches, Canal Hill, Tiverton, Devon, EX16 4JD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

We refer you to the accounts of the parent company, Gem Property Investors Limited, where it explains that the bank facility for acquiring this company and the property it trades from has expired. The facility has been rolled over and the directors are working closely with the bank and advisors to refinance the facility. This process is taking much longer than all parties envisaged. true

 

These accounts include no adjustment that would be required if the parent company's debts could not be successfully refinanced.

 

 

1.3
Turnover

Turnover represents amounts receivable for the provision of a residential care home and is recognised as services are incurred.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
25% straight line
Fixtures and fittings
25% straight line
Computers
25% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ANNE GRAY CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ANNE GRAY CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
23
30
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 May 2023
-
0
83,610
83,610
Additions
2,500
1,635
4,135
At 30 April 2024
2,500
85,245
87,745
Depreciation and impairment
At 1 May 2023
-
0
77,459
77,459
Depreciation charged in the year
125
3,769
3,894
At 30 April 2024
125
81,228
81,353
Carrying amount
At 30 April 2024
2,375
4,017
6,392
At 30 April 2023
-
0
6,151
6,151
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
196,657
28,562
Other debtors
30,277
158,264
226,934
186,826
ANNE GRAY CARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
40,000
10,000
Taxation and social security
90,170
77,530
Other creditors
136,824
92,948
266,994
180,478

Other creditors includes an amount of £99,633 (2023-£66,245) which is owed by the company to a company controlled by the directors.

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
20,560
30,201
8
Related party transactions & contingent liability
The freehold of the care home is legally owned by the parent company of the business. The assets of the company are subject to a fixed and floating charge in connection with borrowings outstanding in connection with  the freehold property of the care home.
The directors and related parties are involved in negotiations to refinance the debt guaranteed by the company. The directors are hopeful that the outcome of these negotiations will be successful but there can be no certainty in such negotiations.
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