GRANGEWOOD_HEALTHCARE_LIM - Accounts

GRANGEWOOD_HEALTHCARE_LIM - Accounts

GRANGEWOOD HEALTHCARE LIMITED - Company Information

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Company Registration No. 06307310 (England and Wales)
GRANGEWOOD HEALTHCARE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2014
GRANGEWOOD HEALTHCARE LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
GRANGEWOOD HEALTHCARE LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GRANGEWOOD HEALTHCARE LIMITED FOR THE YEAR ENDED 31 MARCH 2014
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Grangewood Healthcare Limited for the year ended 31 March 2014 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of Grangewood Healthcare Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Grangewood Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of Grangewood Healthcare Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Grangewood Healthcare Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Grangewood Healthcare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Grangewood Healthcare Limited. You consider that Grangewood Healthcare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Grangewood Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
30 March 2015
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
GRANGEWOOD HEALTHCARE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 2 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
108,900
108,900
Investments
2
2,412,485
2,412,485
2,521,385
2,521,385
Current assets
Cash at bank and in hand
957
955
Creditors: amounts falling due within one year
(797,338)
(834,730)
Net current liabilities
(796,381)
(833,775)
Total assets less current liabilities
1,725,004
1,687,610
Creditors: amounts falling due after more than one year
(2,472,785)
(2,356,331)
(747,781)
(668,721)
Capital and reserves
Called up share capital
3
2,000
2,000
Profit and loss account
(749,781)
(670,721)
Shareholders'  funds
(747,781)
(668,721)
For the financial year ended 31 March 2014 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.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 30 March 2015
Mr Jatin Patel
Director
Company Registration No. 06307310
GRANGEWOOD HEALTHCARE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Grangewood Care LLP, Abbey Care Saxon Limited and Assured Care Services Limited continue to support the company financially by the way of loans which are secured against the freehold properties. The financial statements have been prepared on the going concern basis, the validity of which depends on this continuing support.

1.2
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings freehold
No depreciation
No depreciation is provided in respect of freehold land.
1.3
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.4
Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.

2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 April 2013 & at 31 March 2014
108,900
2,412,485
2,521,385
At 31 March 2013
108,900
2,412,485
2,521,385
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Subsidiary undertakings
Abbey Care Saxon Limited
England and Wales
Ordinary
100.00
Assured Care Services Limited
England and Wales
Ordinary
100.00
GRANGEWOOD HEALTHCARE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
2
Fixed assets
(Continued)
- 4 -
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2014
2014
Principal activity
£
£
Abbey Care Saxon Limited
Residential Care
2,224,450
44,766
Assured Care Services Limited
Residential Care
65,029
347,821
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
2,000 Ordinary Shares of £1 each
2,000
2,000
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