REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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PARKVIEW CARE HOMES LIMITED |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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FOR |
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PARKVIEW CARE HOMES LIMITED |
PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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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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PARKVIEW CARE HOMES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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The Old Casino |
28 Fourth Avenue |
Hove |
East Sussex |
BN3 2PJ |
PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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BALANCE SHEET |
30 SEPTEMBER 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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CURRENT ASSETS |
Stocks | 4 |
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Debtors | 5 |
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Cash in hand |
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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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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 8 |
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Retained earnings |
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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. |
PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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BALANCE SHEET - continued |
30 SEPTEMBER 2020 |
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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 and authorised for issue on
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PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents sales of services and is recognised at the point the customer is entitled to consideration. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer Equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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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. |
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2. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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3. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 October 2019 |
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Additions |
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At 30 September 2020 |
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DEPRECIATION |
At 1 October 2019 |
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Charge for year |
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At 30 September 2020 |
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NET BOOK VALUE |
At 30 September 2020 |
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At 30 September 2019 |
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Cost or valuation at 30 September 2020 is represented by: |
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Fixtures |
Freehold | and | Motor | Computer |
property | fittings | vehicles | Equipment | Totals |
£ | £ | £ | £ | £ |
Valuation in 2017 | 803,900 | - | - | - | 803,900 |
Cost | - | 60,578 | 12,803 | 130,672 | 204,053 |
803,900 | 60,578 | 12,803 | 130,672 | 1,007,953 |
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4. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Amounts owed by associates |
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Other debtors |
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Prepayments and accrued income |
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PARKVIEW CARE HOMES LIMITED (REGISTERED NUMBER: 03699449) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 SEPTEMBER 2020 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Pensions Payable | 2,353 | - |
Directors' loan accounts | 120,574 | 736 |
Accruals and deferred income |
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Accrued expenses |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 1-2 years |
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8. | RESERVES |
Revaluation |
reserve |
£ |
At 1 October 2019 |
and 30 September 2020 |
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9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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During the year Mr R and Mrs F Pinsent increased their loan to the company. As at 30 September 2020, the company owed them £120,574. (2019: £736.). This balance represented the maximum amount outstanding during the year and the loan is interest free and repayable on demand. |
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10. | POST BALANCE SHEET EVENTS |
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Prior to the balance sheet date an outbreak of COVID-19 virus occoured causing a global pandemic recognised by the World health Organisation (WHO). |
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The effect of UK government measures to limit the spread of the virus have been widespread, urging people to remain at home wherever possible, including working from home if available and undertake social distancing measures. Part of the measures have been to close all non essential businesses from opening to the public and providing a "holiday period" for mortgage payments. |
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The pandemic has also had a major effects on Care homes with residents being at high risk due to the pandemic, this has led to a increase in costs for hygiene, medical and preventive measures. |
It has also meant the lockdown has been more severe for the homes leading to a more busier period and |
difficulties keeping up to date with non care duties. |
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The management has assessed the impact of the above measures on the business and will have to wait further announcements by the government before making any further decisions on the properties not currently occupied. |
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The directors continue to monitor the situation as it rapidly changes and believe the company is positioned well to react to further developments Page |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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This was by virtue of their 100% holding of the issued share capital. |