COMPANY REGISTRATION NUMBER:
09657949
|
Bowers Gifford Care Village Limited |
|
|
formerly J K Lion Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Bowers Gifford Care Village Limited |
|
|
formerly J K Lion Limited |
|
|
Statement of Financial Position |
|
30 June 2024
Fixed assets
|
Tangible assets |
4 |
|
4,400,000 |
120,000 |
|
|
|
|
|
Current assets
|
Creditors: amounts falling due within one year |
6 |
4,296 |
|
164,605 |
|
------- |
|
--------- |
|
Net current assets/(liabilities) |
|
4,389 |
(
128,084) |
|
|
------------ |
--------- |
|
Total assets less current liabilities |
|
4,404,389 |
(
8,084) |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
7 |
|
158,000 |
– |
|
|
|
|
|
|
Provisions |
|
1,070,000 |
– |
|
|
------------ |
------- |
|
Net assets/(liabilities) |
|
3,176,389 |
(
8,084) |
|
|
------------ |
------- |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
300 |
300 |
|
Revaluation reserve |
|
3,210,000 |
– |
|
Profit and loss account |
|
(
33,911) |
(
8,384) |
|
|
------------ |
------- |
|
Shareholders funds/(deficit) |
|
3,176,389 |
(
8,084) |
|
|
------------ |
------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Bowers Gifford Care Village Limited |
|
|
Statement of Financial Position (continued) |
|
30 June 2024
These financial statements were approved by the
board of directors
and authorised for issue on
7 November 2025
, and are signed on behalf of the board by:
Company registration number:
09657949
|
Bowers Gifford Care Village Limited |
|
|
formerly J K Lion Limited |
|
|
Notes to the Financial Statements |
|
Year ended 30 June 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 27 Hornsby Square, Southfields Business Park, Basildon, SS15 6SD.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments 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. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are 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.
4.
Tangible assets
|
Land and buildings |
|
£ |
|
Cost or valuation |
|
|
At 1 July 2023 |
120,000 |
|
Revaluations |
4,280,000 |
|
------------ |
|
At 30 June 2024 |
4,400,000 |
|
------------ |
|
Depreciation |
|
|
At 1 July 2023 and 30 June 2024 |
– |
|
------------ |
|
Carrying amount |
|
|
At 30 June 2024 |
4,400,000 |
|
------------ |
|
At 30 June 2023 |
120,000 |
|
------------ |
|
|
Freehold property comprises of a plot of land with planning consent. The site was valued by external qualified valuers, Knight Frank, in May 2024. The directors consider the valuations to be a fair reflection of the value of the land as at 30 June 2024 and have included these amounts in the financial statements accordingly.
5.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Other debtors |
8,685 |
36,521 |
|
------- |
-------- |
|
|
|
6.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Corporation tax |
796 |
3,685 |
|
Amounts owed to connected company |
– |
108,000 |
|
Other creditors |
3,500 |
52,920 |
|
------- |
--------- |
|
4,296 |
164,605 |
|
------- |
--------- |
|
|
|
7.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed to group undertakings |
158,000 |
– |
|
--------- |
---- |
|
|
|
8.
Director's advances, credits and guarantees
At the year end the directors loan account relating to the former directors was overdrawn by £22,395 (2023 - £27,536). No interest has been charged. As recoverability of this debt is doubtful, the balance has been provided for in full.
9.
Controlling party
100% of the issued share capital was purchased on 16th April 2024 by
MPI Developments Limited
. A limited company registered in England and Wales.