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REGISTERED NUMBER: 11000846 (England and Wales)










Financial Statements

for the Year Ended 31 August 2024

for

White Gables Care Limited

White Gables Care Limited (Registered number: 11000846)






Contents of the Financial Statements
for the Year Ended 31 August 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


White Gables Care Limited

Company Information
for the Year Ended 31 August 2024







DIRECTORS: M A Raja
F J Raja



SECRETARY:



REGISTERED OFFICE: 962 Eastern Avenue
Ilford
Essex
IG2 7JD



REGISTERED NUMBER: 11000846 (England and Wales)



AUDITORS: Alderton Accountancy Limited, Statutory Auditor
Chartered Certified Accountants
Registered Auditors
962 Eastern Avenue
Newbury Park
Ilford
Essex
IG2 7JD



BANKERS: National Westminister Bank Plc
Ipswich, Tavern Street
Leicester CUstomer Service Centre
Bede Gouse, 11 Western Boulevard
Leicestershire
LE2 7EJ

White Gables Care Limited (Registered number: 11000846)

Balance Sheet
31 August 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 26,875 34,375
Tangible assets 5 3,349,401 3,347,649
3,376,276 3,382,024

CURRENT ASSETS
Debtors 6 16,178 142,951
Cash at bank and in hand 62,439 113,761
78,617 256,712
CREDITORS
Amounts falling due within one year 7 827,407 898,630
NET CURRENT LIABILITIES (748,790 ) (641,918 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,627,486

2,740,106

CREDITORS
Amounts falling due after more than one
year

8

(2,091,307

)

(2,225,722

)

PROVISIONS FOR LIABILITIES (23,007 ) (23,007 )
NET ASSETS 513,172 491,377

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 11 69,018 69,018
Retained earnings 444,054 422,259
513,172 491,377

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 Board of Directors and authorised for issue on 8 April 2025 and were signed on its behalf by:





F J Raja - Director


White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements
for the Year Ended 31 August 2024

1. STATUTORY INFORMATION

White Gables 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 as modified by the revaluation of certain assets.

The company is a member of a group, where the parent of the group prepares publicly available consolidated financial statements, including this company.

The financial statements of the company are consolidated in the financial statements of Holmwood House Holdings Limited. These consolidated financial statements are available from its registered office address; 962 Eastern Avenue, Ilford, Essex, United Kingdom, IG2 7JD.

Significant judgements and estimates
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Land and buildings - 50 years based on cost/revalued amount
Plant and machinery etc - 25% on reducing balance

White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 64 (2023 - 56 ) .

White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 75,000
AMORTISATION
At 1 September 2023 40,625
Charge for year 7,500
At 31 August 2024 48,125
NET BOOK VALUE
At 31 August 2024 26,875
At 31 August 2023 34,375

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 September 2023 3,330,000 27,383 3,357,383
Additions - 8,220 8,220
At 31 August 2024 3,330,000 35,603 3,365,603
DEPRECIATION
At 1 September 2023 - 9,734 9,734
Charge for year - 6,468 6,468
At 31 August 2024 - 16,202 16,202
NET BOOK VALUE
At 31 August 2024 3,330,000 19,401 3,349,401
At 31 August 2023 3,330,000 17,649 3,347,649

Included in cost or valuation of land and buildings is freehold land of £ 1,500,000 (2023 - £ 1,500,000 ) which is not depreciated.

Cost or valuation at 31 August 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2022 92,025 - 92,025
Cost 3,237,975 35,603 3,273,578
3,330,000 35,603 3,365,603

White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

5. TANGIBLE FIXED ASSETS - continued

Freehold land and buildings were valued on an open market basis on 31 August 2022 by the Directors .

The Directors are of the opinion that the value of freehold land and buildings is not materially different from their fair value at the date of the statement of financial position.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,111 141,441
Amounts owed by group undertakings - 592
Other debtors 3,067 918
16,178 142,951

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 96,648 58,313
Credit Balance - Sales Ledger 17,817 -
Trade creditors 26,922 9,513
Amounts owed to group undertakings 380,486 475,500
Taxation and social security 19,817 20,430
Other creditors 285,717 334,874
827,407 898,630

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 1,491,307 1,625,722
Other creditors 600,000 600,000
2,091,307 2,225,722

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 600,000 600,000

Repayable by instalments
Bank loans more 5 yr by instal 1,108,305 1,335,370

White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 897 1,227
Bank loans 95,751 57,086
96,648 58,313

Amounts falling due between two and five years:
Bank loans - 2-5 years 383,002 290,352

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Other loans more 5yrs non-inst 600,000 600,000

Repayable by instalments
Bank loans more 5 yr by instal 1,108,305 1,335,370

The company obtained a loan from the Bank in 2018. As of the year-end, the outstanding balance was 1,625,722 (2023: £1,682,808). The loan bears an interest rate of 1.85% per annum above the base rate of 5.25% per annum and is repayable over 20 years.

The company borrowed a loan from RBR Property Investments Limited, a company under control of a Director. The balance of this loan outstanding as at the year end was £600,000 (2023: £600,000). This loan carries an interest rate of 5% per annum and is repayable by year 2030.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 897 1,227
Bank loans 1,587,058 1,682,808
1,587,955 1,684,035

The bank loans of the company are secured by a debenture on all assets of the company and also by legal charges over the associated properties.

11. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 69,018

White Gables Care Limited (Registered number: 11000846)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2024

12. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jamil Raja (Senior Statutory Auditor)
for and on behalf of Alderton Accountancy Limited, Statutory Auditor

13. RELATED PARTY DISCLOSURES

Included within creditors is an amount £Nil (2023: £16,140) due to RBR Property Investments Limited, a company under control of a Director.