The Grange Nursing Home Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08578320 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

The Grange Nursing Home Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R C Northover

Mrs H Northover

Mrs A L Northover

REGISTERED OFFICE:

72 Upper Northam Road

Hedge End

Southampton

Hampshire

SO30 4EB

REGISTERED NUMBER:

08578320 (England and Wales)

ACCOUNTANTS:

Northover & Co Accountants Ltd

132A Bournemouth Road

Chandler's Ford

Eastleigh

Hampshire

SO53 3AL

FIXED ASSETS

Intangible assets

4

1,292,500

1,322,500

Tangible assets

5

3,118,289

3,192,569

4,410,789

4,515,069

CURRENT ASSETS

Debtors

6

257,437

236,526

Cash at bank and in hand

653,023

348,370

910,460

584,896

CREDITORS

Amounts falling due within one year

7

701,233

707,041

NET CURRENT ASSETS/(LIABILITIES)

209,227

(122,145

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,620,016

4,392,924

CREDITORS

Amounts falling due after more than one year

8

(945,959

)

(1,024,256

)

PROVISIONS FOR LIABILITIES

11

(4,623

)

(4,476

)

NET ASSETS

3,669,434

3,364,192

CAPITAL AND RESERVES

Called up share capital

12

6

6

Share premium

2,237,829

2,237,829

Retained earnings

1,431,599

1,126,357

SHAREHOLDERS' FUNDS

3,669,434

3,364,192

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 25 April 2022 and were signed on its behalf by:

Mr R C Northover - Director

1.	STATUTORY INFORMATION

The Grange Nursing Home 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of fifty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Freehold property

-

2% on building cost

Plant and machinery

-

20% on cost

Fixtures, fittings & equipment

-

20% on cost

Motor vehicles

-

25% on reducing balance

Office equipment

-

20% on cost

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 149 (2020 - 119 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2020

and 30 April 2021

1,500,000

AMORTISATION

At 1 May 2020

177,500

Charge for year

30,000

At 30 April 2021

207,500

NET BOOK VALUE

At 30 April 2021

1,292,500

At 30 April 2020

1,322,500

5.	TANGIBLE FIXED ASSETS

Fixtures,

Freehold

Plant and

fittings

property

machinery

& equipment

£

£

£

COST

At 1 May 2020

3,500,000

124,514

109,765

Additions

1,752

26,095

10,505

At 30 April 2021

3,501,752

150,609

120,270

DEPRECIATION

At 1 May 2020

414,166

86,130

72,534

Charge for year

70,035

20,645

16,662

At 30 April 2021

484,201

106,775

89,196

NET BOOK VALUE

At 30 April 2021

3,017,551

43,834

31,074

At 30 April 2020

3,085,834

38,384

37,231

Motor

Office

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2020

32,095

41,909

3,808,283

Additions

-

3,743

42,095

At 30 April 2021

32,095

45,652

3,850,378

DEPRECIATION

At 1 May 2020

16,253

26,631

615,714

Charge for year

3,961

5,072

116,375

At 30 April 2021

20,214

31,703

732,089

NET BOOK VALUE

At 30 April 2021

11,881

13,949

3,118,289

At 30 April 2020

15,842

15,278

3,192,569

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

218,163

210,665

Other debtors

39,274

25,861

257,437

236,526

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts (see note 9)

100,000

100,000

Trade creditors

46,711

43,014

Taxation and social security

173,894

120,529

Other creditors

380,628

443,498

701,233

707,041

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans (see note 9)

945,959

1,024,256

9.

LOANS

An analysis of the maturity of loans is given below:

2021

2020

£

£

Amounts falling due within one year or on demand:

Bank loans

100,000

100,000

2021

2020

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

945,959

1,024,256

10.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

1,045,959

1,124,256

The above loan is the bank mortgage on the premises 72 Upper Northam Road. The loan matures on 30th May 2024 and the interest rate is currently 3.6295% .

The loan is secured by a legal charge and debenture over the freehold property, dated 30th May 2014. In addition, the directors have provided a joint and several guarantee.

11.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

4,623

4,476

Deferred

tax

£

Balance at 1 May 2020

4,476

Movement in year

147

Balance at 30 April 2021

4,623

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1

Ordinary A

£1

2

2

1

Ordinary B

£1

2

2

1

Ordinary C

£1

2

2

6

6

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2021 and 30 April 2020:

2021

2020

£

£

Mr R C Northover and Mrs H Northover

Balance outstanding at start of year

(68,407

)

4,923

Amounts advanced

122,939

128,550

Amounts repaid

(100,940

)

(201,880

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(46,408

)

(68,407

)

Mrs A L Northover

Balance outstanding at start of year

(19,933

)

22,114

Amounts advanced

73,502

58,893

Amounts repaid

(50,740

)

(100,940

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

2,829

(19,933

)

Interest has been charged on the loan accounts at 2.5%.

14.	ULTIMATE CONTROLLING PARTY

There is no shareholder with overall control.