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Registered number: 8077281
The Limes Retirement Home Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2024
H C F Accountancy Services
12 Ketts Hill
Necton
Swaffham
Norfolk
PE37 8HX
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 8077281
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,370,296 1,284,014
1,370,296 1,284,014
CURRENT ASSETS
Debtors 5 77,595 42,017
Cash at bank and in hand 729,009 940,965
806,604 982,982
Creditors: Amounts Falling Due Within One Year 6 (236,424 ) (258,546 )
NET CURRENT ASSETS (LIABILITIES) 570,180 724,436
TOTAL ASSETS LESS CURRENT LIABILITIES 1,940,476 2,008,450
Creditors: Amounts Falling Due After More Than One Year 7 (322,402 ) (359,341 )
NET ASSETS 1,618,074 1,649,109
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 1,618,072 1,649,107
SHAREHOLDERS' FUNDS 1,618,074 1,649,109
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Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr George Beckford
Director
14/05/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
The Limes Retirement Home Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 8077281 . The registered office is Earlsford Road, Mellis, Eye, Suffolk, IP23 8DY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover represents amounts receivable for work done

2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 15% Reducing Balance
Motor Vehicles 18% Reducing Balance
Fixtures & Fittings 15% Reducing Balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.5. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 34 26
34 26
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 November 2023 1,252,661 27,454 61,616 107,498 1,449,229
Additions 60,000 187 48,149 14,551 122,887
Disposals - - (23,616 ) - (23,616 )
As at 31 October 2024 1,312,661 27,641 86,149 122,049 1,548,500
Depreciation
As at 1 November 2023 62,971 13,419 31,414 57,411 165,215
Provided during the period - 2,131 11,759 9,692 23,582
Disposals - - (10,593 ) - (10,593 )
As at 31 October 2024 62,971 15,550 32,580 67,103 178,204
Net Book Value
As at 31 October 2024 1,249,690 12,091 53,569 54,946 1,370,296
As at 1 November 2023 1,189,690 14,035 30,202 50,087 1,284,014
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5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 57,983 21,941
Other debtors 19,612 20,076
77,595 42,017
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 5,494 2,698
Trade creditors 63,548 21,157
Bank loans and overdrafts 52,000 47,617
Corporation tax 46,454 80,261
Other Taxes & Social Security 19,660 15,159
Net wages 41,143 36,719
Other Creditors and Accruals 1,200 42,451
Pensions 4,181 2,971
Directors' loan accounts 2,744 9,513
236,424 258,546
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 29,851 10,407
Mortgage over 1 year 292,551 348,934
322,402 359,341
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,494 2,698
Later than one year and not later than five years 29,851 10,407
35,345 13,105
35,345 13,105
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Page 6
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
Page 6