Delves Retirement Homes Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00705041 (England and Wales)

DELVES RETIREMENT HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

A J Christie

SECRETARY:

D R Scrivins

REGISTERED OFFICE:

Glyndebourne Estate Office

Glyndebourne

Lewes

East Sussex

BN8 5UU

REGISTERED NUMBER:

00705041 (England and Wales)

ACCOUNTANTS:

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

FIXED ASSETS

Tangible assets

4

2,378

2,405

Investment property

5

260,576

369,423

262,954

371,828

CURRENT ASSETS

Debtors

6

19,643

33,822

Cash at bank and in hand

208,751

103,288

228,394

137,110

CREDITORS

Amounts falling due within one year

7

117,224

126,751

NET CURRENT ASSETS

111,170

10,359

TOTAL ASSETS LESS CURRENT LIABILITIES

374,124

382,187

PROVISIONS FOR LIABILITIES

8

65,144

70,190

NET ASSETS

308,980

311,997

CAPITAL AND RESERVES

Called up share capital

9

2

2

Fair value reserve

10

195,432

299,233

Retained earnings

113,546

12,762

SHAREHOLDERS' FUNDS

308,980

311,997

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 15th September 2023 and were signed by:

A J Christie - Director

1.	STATUTORY INFORMATION

Delves Retirement 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.

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 comprises the value of management charges.

Tangible fixed assets and depreciation

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

Improvements to property - over the period of the lease

Investment property

Investment property is shown at valuation.

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 5 (2022 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

property

£

COST

At 1st April 2022

and 31st March 2023

2,675

DEPRECIATION

At 1st April 2022

270

Charge for year

27

At 31st March 2023

297

NET BOOK VALUE

At 31st March 2023

2,378

At 31st March 2022

2,405

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st April 2022

369,423

Revaluations

(108,847

)

At 31st March 2023

260,576

NET BOOK VALUE

At 31st March 2023

260,576

At 31st March 2022

369,423

Fair value at 31st March 2023 is represented by:

£

Valuation in 1994

50,000

Valuation in 2015

192,900

Valuation in 2016

10,950

Valuation in 2017

18,850

Valuation in 2018

58,229

Valuation in 2019

9,898

Valuation in 2020

10,390

Valuation in 2021

10,911

Valuation in 2022

7,295

Valuation in 2023

(108,847

)

260,576

Investment property was valued on an open market basis on 31st March 2023 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

6,467

17,399

Other debtors

13,176

16,423

19,643

33,822

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

2,108

1,825

Amounts owed to group undertakings

1,320

3,301

Taxation and social security

2,283

2,442

Other creditors

111,513

119,183

117,224

126,751

8.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

Other timing differences

65,144

70,190

Deferred

tax

£

Balance at 1st April 2022

70,190

Credit to Income Statement during year

(5,046

)

Balance at 31st March 2023

65,144

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

40

Ordinary

5p

2

2

10.

RESERVES

Fair

value

reserve

£

At 1st April 2022

299,233

Reserve transfer

(103,801

)

At 31st March 2023

195,432

11.	ULTIMATE CONTROLLING PARTY

The controlling party is John Christie Limited and its registered office is Glyndebourne Estate Office, Glyndebourne, Lewes, East Sussex, BN8 5UU. As the group is small the exemptions from the requirement to prepare consolidated financial statements have been taken and no consolidated financial statements have been prepared by John Christie Limited.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Delves Retirement Homes Limited for the year ended 31st March 2023 which comprise the Income Statement, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Delves Retirement Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Delves Retirement Homes Limited and state those matters that we have agreed to state to the director of Delves Retirement Homes Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Delves Retirement Homes Limited and its director for our work or for this report.

It is your duty to ensure that Delves Retirement Homes 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 Delves Retirement Homes Limited. You consider that Delves Retirement Homes 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 Delves Retirement Homes 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.

Clark Brownscombe

Chartered Accountants

2 St Andrews Place

Lewes

East Sussex

BN7 1UP

18th September 2023