Statement of Consent to Prepare Abridged Financial Statements
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All of the members of St Philips Care Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
03298131
Filleted Abridged Financial Statements
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Directors' Responsibilities Statement
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Year ended 31 March 2017
The directors are responsible for preparing the directors' report and the abridged financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare abridged financial statements for each financial year. Under that law the directors have elected to prepare the abridged financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the abridged financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these abridged financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the abridged financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the abridged financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Abridged Statement of Financial Position
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31 March 2017
Current assets
Debtors
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430,363
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280,099
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Cash at bank and in hand
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154,728
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12,153
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---------
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---------
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585,091
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292,252
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Creditors: amounts falling due within one year
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227,990
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152,303
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---------
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Net current assets
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357,101
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139,949
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---------
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---------
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Total assets less current liabilities
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357,101
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139,949
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---------
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Net assets
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357,101
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139,949
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---------
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---------
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Capital and reserves
Called up share capital
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150
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150
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Profit and loss account
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356,951
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139,799
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---------
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Shareholder funds
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357,101
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139,949
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---------
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---------
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
22 December 2017
, and are signed on behalf of the board by:
Mr. G M Hartland FCCA
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Director
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Company registration number:
03298131
Notes to the Abridged Financial Statements
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Year ended 31 March 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Lichfield Street, Stone, Staffordshire, ST15 8NA.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
4.
Tax on profit
Major components of tax expense
Current tax:
UK current tax expense
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54,288
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–
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--------
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----
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Tax on profit
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54,288
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–
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--------
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----
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Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2016: lower than) the
standard rate of corporation tax in the UK
of
20
% (2016:
20
%).
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2017
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2016
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£
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£
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Profit on ordinary activities before taxation
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271,440
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236,672
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---------
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Profit on ordinary activities by rate of tax
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(
54,288)
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47,334
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Group losses surrendered
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54,288
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(
47,334)
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---------
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Tax on profit
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–
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–
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---------
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---------
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Factors that may affect future tax expense
There are no factors affecting future tax charges.
5.
Contingencies
Barclays Bank Plc holds a debenture dated 17 June 2016 incorporating fixed and floating charges. The debenture relates to bank borrowings of other group companies. Clydesdale Bank Plc holds a debenture dated 17 June 2016 incorporating fixed and floating charges. The debenture relates to bank borrowings of other group companies.
6.
Events after the end of the reporting period
There were no material events up to 22 December 2017, the date of approval of the financial statements by the Board.
7.
Summary audit opinion
The auditor's report for the year dated 22 December 2017 was unqualified.
The senior statutory auditor was
Peter Plant BA FCA
, for and on behalf of
Plant & Co Limited
.
8.
Related party transactions
During the period, the company was under the ultimate control of the directors by virtue of their ability to act in concert in the respect of the operating and financial policies of the company. The company is associated with other companies through the common directorship and control of
Mr. G M Hartland FCCA
. The company has used the exemption granted under FRS 102 section 33.1A, being that related party disclosures do not need to be given of transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transaction is wholly owned by such a member.
9.
Controlling party
The company is a wholly owned subsidiary of Bilbrook Limited, a company registered in Jersey, Channel Islands. Bilbrook Limited is wholly owned by The Bilbrook Trust, a trust based in Jersey, Channel Islands.