Grange Residential Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02348171 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

GRANGE RESIDENTIAL HOMES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs K F Krabbendam

SECRETARY:

P H Krabbendam

REGISTERED OFFICE:

The Grange

30 Vinery Road

Bury St Edmunds

Suffolk

IP33 2JT

REGISTERED NUMBER:

02348171 (England and Wales)

ACCOUNTANTS:

Walter Wright

Chartered Accountants

89 High Street

Hadleigh

Ipswich

Suffolk

IP7 5EA

FIXED ASSETS

Tangible assets

4

625,694

625,694

CURRENT ASSETS

Debtors

5

512,466

515,966

Cash at bank and in hand

24,614

8,368

537,080

524,334

CREDITORS

Amounts falling due within one year

6

67,170

69,107

NET CURRENT ASSETS

469,910

455,227

TOTAL ASSETS LESS CURRENT LIABILITIES

1,095,604

1,080,921

CREDITORS

Amounts falling due after more than one year

7

(101,807

)

(131,947

)

PROVISIONS FOR LIABILITIES

(18,763

)

(18,740

)

NET ASSETS

975,034

930,234

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

9

396,136

396,136

Retained earnings

578,798

533,998

SHAREHOLDERS' FUNDS

975,034

930,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 February 2021 and were signed by:

Mrs K F Krabbendam - Director

1.	STATUTORY INFORMATION

Grange Residential Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents the fair value of services provided during the year, is recognised as the right to consideration is earned and excludes Value Added Tax. Unbilled turnover is included as accrued income within debtors. Where individual on-account billings exceed revenue recognised, the excess is classified as deferred income within creditors.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost and 20% on cost

No depreciation is charged on freehold land and buildings. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation, no depreciation is charged as it is not material. The directors perform annual impairment reviews to ensure that the recoverable amount is not less than the book value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 October 2019

and 30 September 2020

625,000

79,144

704,144

DEPRECIATION

At 1 October 2019

and 30 September 2020

-

78,450

78,450

NET BOOK VALUE

At 30 September 2020

625,000

694

625,694

At 30 September 2019

625,000

694

625,694

Cost or valuation at 30 September 2020 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

2016

Cost

-

79,144

79,144

625,000

79,144

704,144

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2020

2019

£

£

Cost

228,864

228,864

Freehold land and buildings were valued on an open market basis on 30 September 2016 by an estate agency .

The directors are confident that the market value of the freehold property is not less than net book value. They consider that the expense of a professional valuation is not justified.

No provision has been made for any taxation liability that would arise if the freehold were sold at this value.

5.

DEBTORS

2020

2019

£

£

Amounts falling due within one year:

Trade debtors

-

3,500

Amounts falling due after more than one year:

Amounts owed by group undertakings

512,466

512,466

Aggregate amounts

512,466

515,966

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loan

28,500

29,756

Trade creditors

-

(2

)

Taxation and social security

14,480

7,852

Other creditors

24,190

31,501

67,170

69,107

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loan

101,807

131,947

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

-

16,947

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loan

130,307

161,703

9.

RESERVES

Revaluation

reserve

£

At 1 October 2019

and 30 September 2020

396,136