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 31 December 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.

Claregrange (Trading) Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aslockton Hall, New Lane, Aslockton, Nottinghamshire, NG13 9AH.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

During 2024 the company continued to experience a difficult trading period which resulted in the directors decision to close one of the nursing homes. The directors have appraised the profitability and cashflow of the business for the future and anticipate growth and sufficient funds will be available from within the company and/or connected companies for it to continue to trade for the foreseeable future.

A director has given his continued support to the company and will only seek repayment of his directors loan when the company has sufficient funds to do so.

A connected company, a major creditor, has also given its support to the company and will not seek repayment of the monies owed until the company has sufficient funds to do so.

Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover represents the total amount receivable during the year, for the provision of care, by the company in the ordinary course of business excluding value added tax and trade discounts.

With the exception of freehold property and improvements to leasehold property, property, plant and equipment are stated at cost less accumulated depreciation and any recognised impairment losses. Freehold property and improvements to leasehold property are stated in the balance sheet at revalued amounts, being the fair value on the date of acquisition less any subsequent depreciation and 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:

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.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account. No depreciation is provided in respect of such properties. Although the Companies Act 2006 would normally require the systematic annual depreciation of fixed assets, it is believed that this policy of not providing depreciation is necessary in order for the accounts to give a true and fair view.

Deferred taxation is provided on revaluation surpluses at the rate expected to apply when the properties are sold.

Stocks are stated at the lower of cost and estimated selling price.

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.

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.

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.

The 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 net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Government grants are recognised in the profit and loss account to match with the expenditure towards which they contribute. Grants received towards expenditure on Tangible Fixed Assets are recognised in the profit and loss account over the expected useful life of the asset concerned.

Rents receievable

Rents represent the total sums due by the tenants of the company during the year.

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.

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

Investment property comprises a portfolio of residential properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 December 2024 by P M Robinson, a director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

The company has one class of ordinary shares which carry no right to fixed income. The shares carry voting rights and have no restriction on the repayment of capital.

Included within the profit and loss reserves are non-distributable reserves that represent fair value gains on the investment properties held by the company of £ 255,309 (2023 - £ 241,978)

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

As disclosed in the financial statements for the year ended 31 December 2023 the directors decided to permanently cease operations at one of the nursing home locations. At that point an estimate of the financial effect could not be calculated.

There were sums due by the company to a director at 31 December 2024 of £638,007 (2023 - £494,463).

The directors loan was unsecured and on an interest free basis.

The company repaid to the director £24,684 (31 December 2023 - £68,595) and received advances of £168,228 (31 December 2023 - £74,001) during the period ended 31 December 2023.

The company also paid rent to the director for property occupied by the company for the purposes of its trade. The rent payable amounted to £1 (2023 - £1).

The company made a charge to the director,for maintenance of personal investment properties,during the year in the sum of £15,000 (2023 - £15,000)

There were sums due by the company at 31 December 2024 of £1,580,900 (2023 - £988,830) to a company which is a related party but not part of the same group. This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

There were sums due by the company at 31 December 2024 of £19,986 (2023 - £19,986) to a company which is a related party but not part of the same group. This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

There were sums due to the company by a subisidary at 31 December 2024 of £55,182 (2023 - £55,182). This relates to a loan which is unsecured, repayable on demand and on an interest free basis.

No guarantees have been given or received.