Company Registration No. 04827501 (England and Wales)
SEAGRAVE HEALTHCARE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
SEAGRAVE HEALTHCARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SEAGRAVE HEALTHCARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2019
31 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
14,484
15,555
Investments
4
135,675
135,675
150,159
151,230
Current assets
Debtors
5
125,496
161,196
Cash at bank and in hand
597,747
429,261
723,243
590,457
Creditors: amounts falling due within one year
6
(166,473)
(172,771)
Net current assets
556,770
417,686
Total assets less current liabilities
706,929
568,916
Capital and reserves
Called up share capital
7
10,000
10,000
Profit and loss reserves
8
696,929
558,916
Total equity
706,929
568,916
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 18 October 2019
Professor O A D'Agnone
Director
Company Registration No. 04827501
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2019
- 2 -
1
Accounting policies
Company information
Seagrave Healthcare Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
25A Eccleston Street, Belgravia, London, SW1W 9NP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
fees earned
provided in the normal course of business
.
1.3
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.
The investments are assessed for impairment at each reporting date
and
any
impairment
losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company
. Control is
the power to govern the financial and operating policies of
the
entity so as to obtain benefits from its activities.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable
only. No provision is made for deferred tax as any sum involved is not material.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 7 (2018 - 7).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2018
34,685
Additions
5,241
At 31 March 2019
39,926
Depreciation and impairment
At 1 April 2018
19,130
Depreciation charged in the year
6,312
At 31 March 2019
25,442
Carrying amount
At 31 March 2019
14,484
At 31 March 2018
15,555
4
Fixed asset investments
2019
2018
£
£
Investment in subsidiary company
135,675
135,675
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
4
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 April 2018 & 31 March 2019
135,675
Carrying amount
At 31 March 2019
135,675
At 31 March 2018
135,675
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
6,609
1,493
Income tax on directors loan
22,611
22,611
Directors loan
82,695
123,858
Prepayments and accrued income
13,581
13,234
125,496
161,196
6
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
1,660
7,214
Amounts due to group undertakings
101,897
100,157
Corporation tax
51,402
51,585
Other taxation and social security
4,171
3,150
Other creditors and accruals
7,343
10,665
166,473
172,771
7
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
SEAGRAVE HEALTHCARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2019
- 5 -
8
Profit and loss reserves
2019
2018
£
£
At the beginning of the year
558,916
421,723
Profit for the year
218,013
217,193
Dividends
(80,000)
(80,000)
At the end of the year
696,929
558,916