Registration number:
Stoneleigh Residential Care Home Limited
for the Year Ended 31 May 2025
Stoneleigh Residential Care Home Limited
(Registration number: 05678122)
Statement of Financial Position as at 31 May 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Profit and loss account |
392,044 |
326,900 |
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Shareholders' funds |
392,046 |
326,902 |
For the financial year ending 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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• |
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Stoneleigh Residential Care Home Limited
(Registration number: 05678122)
Statement of Financial Position as at 31 May 2025 (continued)
Approved and authorised by the
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......................................... |
Approved and authorised by the
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Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Principal activity
The principal activity of the company is running of a residential care home for the elderly.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are prepared in sterling which is the functional currency of the entity.
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Significant judgements |
The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: |
Bad debt provision |
Key sources of estimation uncertainty
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Depreciation
Amortisation
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue for the rendering of services is recognised with reference to the stage of completion of the transaction. The account of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, the stage of completion of the transaction at the end of the reporting period can be measured reliably, and the costs incurred for the transaction and the costs to complete the transaction can be measured reliably.
Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Goodwill |
5 years straight line |
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
5 years straight line |
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Motor vehicles |
25% reducing balance |
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Freehold property and property improvements |
50 years straight line |
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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2 |
Accounting policies (continued) |
Financial instruments
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution pension obligation
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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Intangible assets |
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Goodwill |
Total |
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Cost or valuation |
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At 1 June 2024 |
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At 31 May 2025 |
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Amortisation |
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At 1 June 2024 |
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At 31 May 2025 |
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Carrying amount |
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At 31 May 2025 |
- |
- |
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At 31 May 2024 |
- |
- |
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Tangible assets |
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Land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 June 2024 |
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Additions |
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- |
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Disposals |
( |
( |
- |
( |
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At 31 May 2025 |
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Depreciation |
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At 1 June 2024 |
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Charge for the year |
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Eliminated on disposal |
( |
( |
- |
( |
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At 31 May 2025 |
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Carrying amount |
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At 31 May 2025 |
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At 31 May 2024 |
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Included within the net book value of land and buildings above is £745,886 (2024 - £765,484) in respect of freehold land and buildings.
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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5 |
Tangible assets (continued) |
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
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Fixtures, fittings and equipment |
Motor vehicles |
Total |
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£ |
£ |
£ |
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31 May 2025 |
8,054 |
39,937 |
47,991 |
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31 May 2024 |
9,128 |
53,250 |
62,378 |
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Debtors |
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2025 |
2024 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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Creditors: amounts falling due within one year |
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2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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The bank loans are secured on the company property at 24 Clarence Road South and by a fixed and floating charge over the company's assets.
Included in other creditors is £39,365 (2024 £11,156) in respect of a hire purchase and finance lease which are secured on the assets to which they relates.
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Creditors: amounts falling due after more than one year |
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2025 |
2024 |
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Due after one year |
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Bank borrowings and overdrafts |
202,103 |
283,051 |
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Other creditors |
- |
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Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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8 |
Creditors: amounts falling due after more than one year (continued) |
The bank loans are secured on the company property at 24 Clarence Road South and by a fixed and floating charge over the company's assets.
Included in other creditors is £nil (2024 £40,851) in respect of a hire purchase and finance lease which are secured on the assets to which they relates.
Included within creditors: amounts falling due after more than one year is an amount of £nil (2024: £29,443) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
One loan is due to be repaid during August 2030 and the interest rate is 2.15% per annum over Base Rate. Another loan is due to be repaid during July 2028 and the interest rate is 2.74% per annum over Base Rate. The third loan is due to repaid in 2028 Another is a Coronavirus Bounce Back Loan which is due to be repaid by May 2026. Interest is payable on this loan is fixed at 3.17% for the first 5 years, and at 2.71% per annum above bank base thereafter. The final loan is a Circle Funding Loan, due to be repaid November 2026, with a fixed interest amount.
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Government grants |
The amounts recognised in the financial statements for government grants are as follows:
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2025 |
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Recognised in other operating income: |
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Government grants recognised directly in income |
6,086 |
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Reserves |
Profit and loss account:
This reserve records retained earnings and accumulated losses.
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Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
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2025 |
2024 |
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Not later than one year |
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- |
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Later than one year and not later than five years |
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- |
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- |
Stoneleigh Residential Care Home Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2025 (continued)
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11 |
Obligations under leases and hire purchase contracts (continued) |
The amount of non-cancellable operating lease payments recognised as an expense during the year was £Nil (2024 - £Nil).
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Related party transactions |
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Transactions with the director |
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2025 |
At 1 June 2024 |
Advances to director |
Repayments by director |
At 31 May 2025 |
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Director's loan |
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( |
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2024 |
At 1 June 2023 |
Advances to director |
Repayments by director |
At 31 May 2024 |
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Director's loan |
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( |
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Directors guarantees |
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During the year the company entered into the following guarantee on behalf of the director: |
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The Director has given a personal guarantee of £50,000 against the bank borrowings.
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