GJR (Healthcare) Limited - Period Ending 2023-03-31

GJR (Healthcare) Limited

Contents

Company Information	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 to 8

GJR (Healthcare) Limited

Company Information

Directors

R Sideras R B Adams

Registered office

1st Floor Woodgate Studios 2-8 Games Road Cockfosters Barnet Hertfordshire EN4 9HN

Auditors

NA Associates LLP Woodgate Studios 2-8 Games Road Cockfosters Hertfordshire EN4 9HN

GJR (Healthcare) Limited

(Registration number: 06789608)
Balance Sheet as at 31 March 2023

	Note	31 March 2023 £	31 December 2021 £
Fixed assets
Investments	4	2,586,848	2,586,848
Current assets
Debtors	5	41	41
Creditors: Amounts falling due within one year	6	(3,448)	(1,228)
Net current liabilities		(3,407)	(1,187)
Total assets less current liabilities		2,583,441	2,585,661
Creditors: Amounts falling due after more than one year	6	(2,125,501)	(2,125,501)
Net assets		457,940	460,160
Capital and reserves
Called up share capital	7	1,000	1,000
Retained earnings		456,940	459,160
Shareholders' funds		457,940	460,160

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 2 January 2024 and signed on its behalf by:
 

......................................... R Sideras Director

GJR (Healthcare) Limited

Statement of Changes in Equity for the Period from 1 January 2022 to 31 March 2023

	Share capital £	Retained earnings £	Total £
At 1 January 2022	1,000	459,160	460,160
Loss for the period	-	(2,220)	(2,220)
At 31 March 2023	1,000	456,940	457,940

	Share capital £	Retained earnings £	Total £
At 1 January 2021	1,000	459,142	460,142
Profit for the period	-	18	18
At 31 December 2021	1,000	459,160	460,160

GJR (Healthcare) Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 31 March 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor Woodgate Studios
2-8 Games Road
Cockfosters
Barnet
Hertfordshire
EN4 9HN

These financial statements were authorised for issue by the Board on 2 January 2024.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The accounts are prepared in the company's functional currency of British Pounds (£) and rounded to the nearest £1.

Name of parent of group

These financial statements are consolidated in the financial statements of Premium Care Group Limited.

The financial statements of Premium Care Group Limited may be obtained from the registered office.

Group accounts not prepared

The company has not prepared consolidated accounts, as it is the parent of a small group.

Disclosure of long or short period

The year end was extended to 31 March to bring it in line with its group. The current period is therefore for 15 months and the comparative is for 12 months.

Going concern

The financial statements have been prepared on a going concern basis.

GJR (Healthcare) Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 31 March 2023

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 2 January 2024 was Nicholas Antoniou, who signed for and on behalf of NA Associates LLP.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Trade debtors and other debtors

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Trade creditors and other creditors

Creditors with no stated interest rate and payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

GJR (Healthcare) Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2 (2021 - 2).

4	Investments

	31 March 2023 £	31 December 2021 £
Investment in subsidiary	2,586,848	2,586,848

	£
Cost
At 1 January 2022	2,586,848
Net book value
At 31 March 2023	2,586,848
At 31 December 2021	2,586,848

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2023	2021
Subsidiary undertakings
Rosebank Nursing Homes Limited	England	Ordinary shares	100%	100%

Subsidiary undertakings

Rosebank Nursing Homes Limited The principal activity of Rosebank Nursing Homes Limited is that of a care home.

GJR (Healthcare) Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 31 March 2023

5

Debtors

Current	31 March 2023 £	31 December 2021 £
Other debtors	41	41

6

Creditors

Creditors: amounts falling due within one year

	31 March 2023 £	31 December 2021 £
Due within one year
Taxation and social security	11	11
Accruals and deferred income	2,220	-
Other creditors	1,217	1,217
	3,448	1,228

Creditors: amounts falling due after more than one year

	31 March 2023 £	31 December 2021 £
Due after one year
Amounts owed to group undertakings	2,125,501	2,103,892
Other creditors	-	21,609
	2,125,501	2,125,501

7	Share capital

Allotted, called up and fully paid shares

	31 March 2023		31 December 2021
	No.	£	No.	£
Ordinary shares of £1 each	1,000	1,000	1,000	1,000

GJR (Healthcare) Limited

Notes to the Financial Statements for the Period from 1 January 2022 to 31 March 2023

8	Financial commitments, guarantees and contingencies

The bank loan in Premium Care Homes Limited, a related party, has been secured by a fixed and floating charge against the company’s assets.

9	Related party transactions

Loans from related parties

At the end of the financial year the Company owed £2,103,892 (2021 : 2,103,892) to its subsidiary company Rosebank Nursing Homes Limited and £21,609 (2021 : £Nil) is owed to other related parties.

10	Parent and ultimate parent undertaking

The company's immediate parent is Premium Care Homes Limited, incorporated in England.

 The ultimate parent is Premium Care Group Limited, incorporated in England.