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Unaudited Financial Statements for the Year Ended 31 May 2019 |
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Greenacres Park Ltd |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 31 May 2019 |
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Greenacres Park Ltd |
Greenacres Park Ltd (Registered number: 08583892) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Greenacres Park Ltd |
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Company Information |
for the Year Ended 31 May 2019 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANT: |
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Chartered Accountants |
63 Bawtry Road |
Bramley |
Rotherham |
South Yorkshire |
S66 2TN |
Greenacres Park Ltd (Registered number: 08583892) |
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Balance Sheet |
31 May 2019 |
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2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Fair value reserve | 10 |
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Retained earnings | 10 |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
Greenacres Park Ltd (Registered number: 08583892) |
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Balance Sheet - continued |
31 May 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
by: |
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Greenacres Park Ltd (Registered number: 08583892) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2019 |
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1. | STATUTORY INFORMATION |
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Greenacres Park Ltd is a
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registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in |
fair value is recognised in profit or loss. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2018 - NIL). |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2018 |
and 31 May 2019 |
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NET BOOK VALUE |
At 31 May 2019 |
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At 31 May 2018 |
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Greenacres Park Ltd (Registered number: 08583892) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2019 |
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4. | INVESTMENT PROPERTY - continued |
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Investment property represents a care home being Green Acres Grange Worksop Nottinghamshire. This is shown |
at open market value. The basis of the valuation being a Colliers valuation in February 2016 pre construction on |
a turnkey basis. |
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Fair value at 31 May 2019 is represented by: |
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£ |
Valuation in 2018 | 2,855,816 |
Cost | 3,344,184 |
6,200,000 |
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5. | DEBTORS |
2019 | 2018 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Bank loans and overdrafts |
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Other creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2019 | 2018 |
£ | £ |
Bank loans |
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Other creditors |
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Greenacres Park Ltd (Registered number: 08583892) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2019 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2019 | 2018 |
£ | £ |
Bank loans |
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Clydesdale Bank PLC (Trading as both Clydesdale Bank and Yorkshire Bank) |
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Charge registered 16th May 2016 |
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Security |
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Intellectual property rights and freehold land under title NT447051 known as Greenacres Grange Care Home, |
Wingfield Avenue, Worksop, S81 OTA. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
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Ordinary | £1 | 6 | 6 |
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10. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 June 2018 |
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2,719,575 |
Profit for the year |
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At 31 May 2019 |
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2,719,575 |
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11. | ESTIMATED ACCOUNTS |
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These accounts are estimated. Final accounts will be submitted in due course. |