| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| White Gables Care Limited |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants |
| Registered Auditors |
| 962 Eastern Avenue |
| Newbury Park |
| Ilford |
| Essex |
| IG2 7JD |
| BANKERS: |
| 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 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 11 |
| Retained earnings |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 |
| 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 |
| AMORTISATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST OR VALUATION |
| At 1 September 2023 |
| Additions |
| At 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| 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 |
| Amounts owed by group undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Credit Balance - Sales Ledger |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans (see note 9) |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Other loans more 5yrs non-inst |
| 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 |
| Bank loans |
| Amounts falling due between two and five years: |
| Bank loans - 2-5 years |
| 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 |
| Bank loans |
| 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 |
| 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. |
| for and on behalf of |
| 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. |