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2019-01-01
Sage Accounts Production Advanced 2020 - FRS102_2019
1
1
1
xbrli:pure
xbrli:shares
iso4217:GBP
04572344
2019-01-01
2019-12-31
04572344
2019-12-31
04572344
2018-12-31
04572344
2018-01-01
2018-12-31
04572344
2018-12-31
04572344
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-01-01
2019-12-31
04572344
core:FurnitureFittings
2019-01-01
2019-12-31
04572344
core:MotorVehicles
2019-01-01
2019-12-31
04572344
bus:RegisteredOffice
2019-01-01
2019-12-31
04572344
bus:LeadAgentIfApplicable
2019-01-01
2019-12-31
04572344
bus:Director1
2019-01-01
2019-12-31
04572344
bus:Director2
2019-01-01
2019-12-31
04572344
core:WithinOneYear
2019-12-31
04572344
core:WithinOneYear
2018-12-31
04572344
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-12-31
04572344
core:FurnitureFittings
2018-12-31
04572344
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-12-31
04572344
core:FurnitureFittings
2019-12-31
04572344
core:MotorVehicles
2019-12-31
04572344
core:AfterOneYear
2019-12-31
04572344
core:AfterOneYear
2018-12-31
04572344
core:ShareCapital
2019-12-31
04572344
core:ShareCapital
2018-12-31
04572344
core:RetainedEarningsAccumulatedLosses
2019-12-31
04572344
core:RetainedEarningsAccumulatedLosses
2018-12-31
04572344
core:CostValuation
core:Non-currentFinancialInstruments
2019-12-31
04572344
core:Non-currentFinancialInstruments
2019-12-31
04572344
core:Non-currentFinancialInstruments
2018-12-31
04572344
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-12-31
04572344
core:FurnitureFittings
2018-12-31
04572344
bus:SmallEntities
2019-01-01
2019-12-31
04572344
bus:AuditExemptWithAccountantsReport
2019-01-01
2019-12-31
04572344
bus:FullAccounts
2019-01-01
2019-12-31
04572344
bus:SmallCompaniesRegimeForAccounts
2019-01-01
2019-12-31
04572344
bus:PrivateLimitedCompanyLtd
2019-01-01
2019-12-31
04572344
core:FurnitureFittingsToolsEquipment
2019-01-01
2019-12-31
04572344
core:FurnitureFittingsToolsEquipment
2018-12-31
04572344
core:FurnitureFittingsToolsEquipment
2019-12-31
04572344
1
2019-01-01
2019-12-31
04572344
core:KeyManagementIndividualGroup1
2019-01-01
2019-12-31
04572344
core:KeyManagementIndividualGroup1
2019-12-31
04572344
core:KeyManagementIndividualGroup1
2018-12-31
COMPANY REGISTRATION NUMBER:
04572344
Heathville Residential Care Limited
|
|
Filleted Unaudited Financial Statements
|
|
Heathville Residential Care Limited
|
|
Year ended 31 December 2019
The directors present their report and the unaudited financial statements of the company for the year ended
31 December 2019
.
Principal activities
The principal activity of the company during the year was that of social care work with accommodation.
Directors
The directors who served the company during the year were as follows:
Events after the end of the reporting period
Particulars of events after the reporting date are detailed in note 10 to the financial statements.
Business review
Turnover has increased by another 10% with bed occupancy still at 100% in many months of the year.
Three more properties were purchased in 2019 giving an increase in bed space of 36%. Offers were made on two more properties in the fourth quarter of 2020. If these are completed bed space will have increased by 96% since the beginning of 2017.
Heathville Residential Care Limited
continues to reap the benefits of the Goldman Sachs 10,000 Small Businesses Programme attended by one of the Directors in 2019. The targeted bed space increase of 151% within a 3 year period is still fully achievable.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
18 December 2020
and signed on behalf of the board by:
Registered office:
|
Rockfield
|
Mill Lane
|
Prestbury
|
Cheltenham
|
GL52 3NE
|
|
Heathville Residential Care Limited
|
|
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Heathville Residential Care Limited
|
|
Year ended 31 December 2019
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Heathville Residential Care Limited for the year ended 31 December 2019, which comprise the statement of financial position 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 at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Heathville Residential Care Limited, as a body, in accordance with the terms of our engagement letter dated 24 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Heathville Residential Care Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Heathville Residential Care Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Heathville Residential Care 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 profit of Heathville Residential Care Limited. You consider that Heathville Residential Care 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 Heathville Residential Care 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.
TOWNENDS ACCOUNTANTS LLP
Chartered Accountants
Carlisle Street
Goole
East Riding of Yorkshire
DN14 5DX
18 December 2020
Heathville Residential Care Limited
|
|
Statement of Financial Position
|
|
31 December 2019
Fixed assets
Tangible assets
|
5
|
|
2,830,488
|
|
1,747,643
|
Investments
|
6
|
|
1
|
|
1
|
|
|
-------------
|
|
-------------
|
|
|
2,830,489
|
|
1,747,644
|
|
|
|
|
|
|
Current assets
Debtors
|
7
|
56,486
|
|
65,024
|
|
Cash at bank and in hand
|
–
|
|
10,889
|
|
|
---------
|
|
---------
|
|
|
56,486
|
|
75,913
|
|
|
|
|
|
|
|
Creditors: amounts falling due within one year
|
8
|
(
442,223)
|
|
(
349,471)
|
|
|
----------
|
|
----------
|
|
Net current liabilities
|
|
(
385,737)
|
|
(
273,558)
|
|
|
-------------
|
|
-------------
|
Total assets less current liabilities
|
|
2,444,752
|
|
1,474,086
|
|
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
9
|
|
(
1,718,542)
|
|
(
929,541)
|
|
|
|
|
|
|
Provisions
Taxation including deferred tax
|
|
(
9,118)
|
|
(
3,738)
|
|
|
-------------
|
|
-------------
|
Net assets
|
|
717,092
|
|
540,807
|
|
|
-------------
|
|
-------------
|
|
|
|
|
|
Capital and reserves
Called up share capital
|
|
1,000
|
|
1,000
|
Profit and loss account
|
|
716,092
|
|
539,807
|
|
|
----------
|
|
----------
|
Shareholders funds
|
|
717,092
|
|
540,807
|
|
|
----------
|
|
----------
|
|
|
|
|
|
These 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 Section 1A of 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 statement of income and retained earnings has not been delivered.
Heathville Residential Care Limited
|
|
Statement of Financial Position (continued)
|
|
31 December 2019
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
These financial statements were approved by the
board of directors
and authorised for issue on
18 December 2020
, and are signed on behalf of the board by:
Company registration number:
04572344
Heathville Residential Care Limited
|
|
Notes to the Financial Statements
|
|
Year ended 31 December 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Rockfield, Mill Lane, Prestbury, Cheltenham, GL52 3NE.
2.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
(a)
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition The turnover shown in the profit and loss account represents amounts invoiced during the year. Revenue from the provision of services is recognised when 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 transaction can be measure reliably.
(c) 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 be paid or recovered 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. Provision is made, under the liability method, to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
(d) Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(e) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Freehold Property |
- |
2% straight line
|
|
Fixtures & Fittings |
- |
33% reducing balance
|
|
Motor vehicles |
- |
33% straight line
|
|
Fire Equipment |
- |
33% reducing balance
|
|
|
|
|
(f) Investments Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. (g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date
.
(h)
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(i)
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities
.
(j)
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
36
(2018:
31
).
5.
Tangible assets
|
Freehold property
|
Fixtures and fittings
|
Motor vehicles
|
Equipment
|
Total
|
|
£
|
£
|
£
|
£
|
£
|
Cost
|
|
|
|
|
|
At 1 January 2019
|
1,811,662
|
165,120
|
–
|
30,391
|
2,007,173
|
Additions
|
1,054,478
|
38,471
|
5,993
|
9,321
|
1,108,263
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
At 31 December 2019
|
2,866,140
|
203,591
|
5,993
|
39,712
|
3,115,436
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
Depreciation
|
|
|
|
|
|
At 1 January 2019
|
87,198
|
142,199
|
–
|
30,133
|
259,530
|
Charge for the year
|
–
|
20,259
|
1,998
|
3,161
|
25,418
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
At 31 December 2019
|
87,198
|
162,458
|
1,998
|
33,294
|
284,948
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
Carrying amount
|
|
|
|
|
|
At 31 December 2019
|
2,778,942
|
41,133
|
3,995
|
6,418
|
2,830,488
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
At 31 December 2018
|
1,724,464
|
22,921
|
–
|
258
|
1,747,643
|
|
-------------
|
----------
|
-------
|
---------
|
-------------
|
|
|
|
|
|
|
6.
Investments
|
Shares in group undertakings
|
|
£
|
Cost
|
|
At 1 January 2019 and 31 December 2019
|
1
|
|
----
|
Impairment
|
|
At 1 January 2019 and 31 December 2019
|
–
|
|
----
|
|
|
Carrying amount
|
|
At 31 December 2019
|
1
|
|
----
|
At 31 December 2018
|
1
|
|
----
|
|
|
7.
Debtors
|
2019
|
2018
|
|
£
|
£
|
Trade debtors
|
43,786
|
53,274
|
Other debtors
|
12,700
|
11,750
|
|
---------
|
---------
|
|
56,486
|
65,024
|
|
---------
|
---------
|
|
|
|
8.
Creditors:
amounts falling due within one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
173,070
|
102,310
|
Trade creditors
|
42,038
|
34,523
|
Amounts owed to group undertakings
|
1
|
1
|
Accruals and deferred income
|
80,376
|
93,781
|
Corporation tax
|
83,757
|
67,397
|
Social security and other taxes
|
10,602
|
8,130
|
Directors loan accounts
|
98
|
5,620
|
Other loans
|
32,503
|
12,375
|
Other creditors
|
19,778
|
25,334
|
|
----------
|
----------
|
|
442,223
|
349,471
|
|
----------
|
----------
|
|
|
|
The bank borrowing noted above is secured by a fixed and floating charge over the assets of the company.
9.
Creditors:
amounts falling due after more than one year
|
2019
|
2018
|
|
£
|
£
|
Bank loans and overdrafts
|
1,718,542
|
929,541
|
|
-------------
|
----------
|
|
|
|
The bank borrowing noted above is secured by a fixed and floating charge over the assets of the company.
Included within creditors: amounts falling due after more than one year is an amount of £1,111,158 (2018 - £520,041) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10.
Events after the end of the reporting period
In March 2020 the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. Despite all of this, the company has traded profitably in the period to date
.
11.
Related party transactions
During the year the
directors
made available interest free loans to the company which are repayable on demand
. At the balance sheet date the amounts owed to the directors totalled £ 98
(2018: £ 5,620
).