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REGISTERED NUMBER:
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Directors' Report and |
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Audited Financial Statements for the Year Ended 30 September 2019 |
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Care UK Healthcare (Southeast) Limited |
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REGISTERED NUMBER:
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Directors' Report and |
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Audited Financial Statements for the Year Ended 30 September 2019 |
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for |
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Care UK Healthcare (Southeast) Limited |
Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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Page |
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Company Information | 1 |
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Directors' Report | 2 |
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Statement of Directors' Responsibilities | 4 |
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Report of the Independent Auditors | 5 |
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Statement of Comprehensive Income | 7 |
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Balance Sheet | 8 |
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Statement of Changes in Equity | 9 |
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Notes to the Financial Statements | 10 |
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Care UK Healthcare (Southeast) Limited |
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Company Information |
for the Year Ended 30 September 2019 |
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Directors: |
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Registered office: |
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Registered number: |
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Senior statutory auditor: |
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Independent auditors : |
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Chartered Accountants |
Registered Auditors |
Regus, 4th Floor |
Salt Quay House |
6 North East Quay |
Plymouth |
PL4 0HP |
Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Directors' Report |
for the Year Ended 30 September 2019 |
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The Directors present their Strategic report, Director's report and financial statements for the year |
ended 30 September 2019. |
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Principal activity |
Care UK Healthcare (Southeast) Limited had no operational contracts during the year and is not |
expected to have any in the future. As such the financial statements have not been prepared on a |
going concern basis. |
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Review of business |
There were no trading activities during the year. |
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Dividends |
A dividend of £2,324,941 was distributed for the year ended 30 September 2019 (2018: £nil) |
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Future developments |
The Directors do not expect to utilise the Company to bid for future contracts. As such, the |
Company is expected to be a non trading entity. |
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Directors |
but prior to the date of this report. |
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30 September 2019 but prior to the date of this report. |
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Political donations and expenditure |
The Company made £nil political donations during the year (2018: £nil), and £nil charitable |
donations during the year (2018: £nil). |
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Covid-19 |
Since the year end, COVID-19 has become a global pandemic which is causing a significant |
impact across a number of different industries and sectors, particularly the healthcare sector. |
Given the nature of the Company's current operations and activities, the virus is not expected to |
create any additional risks for this specific company or impact on the company's activities going |
forward. |
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Statement as to disclosure of information to auditors |
So far as the Directors are aware, there is no relevant audit information (as defined by Section 418 |
of the Companies Act 2006) of which the Company's auditor is unaware, and each Director has |
taken all the steps that he ought to have taken as a Director in order to make himself aware of any |
relevant audit information and to establish that the Company's auditor is aware of that information. |
Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Directors' Report |
for the Year Ended 30 September 2019 |
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Auditors |
Pursuant to Section 487 of the Companies Act 2006, the auditors will be deemed to be reappointed |
and KPMG LLP, will therefore continue in office. |
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On behalf of the board: |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Statement of Directors' Responsibilities |
for the Year Ended 30 September 2019 |
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The Directors are responsible for preparing the Directors' report and the financial statements in |
accordance with applicable law and regulations. |
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Company law requires the Directors to prepare financial statements for each financial year. Under |
that law they have elected to prepare the financial statements in accordance with applicable law |
and Section 1A of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of |
Ireland (UK Generally Accepted Accounting Practice applicable to Smaller Entities). |
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Under company law the Directors must not approve the financial statements unless they are |
satisfied that they give a true and fair view of the state of affairs of the Company and of the profit |
or loss of the Company for that period. In preparing these financial statements, the Directors are |
required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and estimates that are reasonable and prudent; |
- | assess the Company's ability to continue as a going concern, disclosing, as applicable, |
matters related to going concern; and |
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use the going concern basis of accounting unless they either intend to liquidate the
Company or to cease operations, or have no realistic alternative but to do so. As explained in 'Basis of preparation' in the principal accounting policies on page 10, the Directors do not believe that it is appropriate to prepare these financial statements on a going concern basis. |
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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 financial statements comply |
with the Companies Act 2006. They are responsible for such internal control as they determine is |
necessary to enable the preparation of financial statements that are free from material |
misstatement, whether due to fraud or error, and have general responsibility for taking such steps |
as are reasonably open to them to safeguard the assets of the Company and to prevent and detect |
fraud and other irregularities. |
Report of the Independent Auditors to the Members of |
Care UK Healthcare (Southeast) Limited |
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Opinion |
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We have audited the financial statements of Care UK Healthcare (Southeast) Limited ("the |
Company") for the year ended 30 September 2019, which comprise the Statement of |
Comprehensive Income, Balance sheet, Statement of changes in equity and related notes, |
including the accounting policies in note 2. |
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In our opinion the financial statements: |
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- | give a true and fair view of the state of the Company's affairs as at 30 September 2019 |
and of its profit for the year then ended; |
- | have been properly prepared in accordance with UK accounting standards, applicable |
to smaller entities, including Section 1A of FRS 102 The Financial Reporting Standard |
applicable in the UK and Republic of Ireland; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Basis for opinion |
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We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") |
and applicable law. Our responsibilities are described below. We have fulfilled our ethical |
responsibilities under, and are independent of the Company in accordance with, UK ethical |
requirements including the FRC Ethical Standard, and the provisions available for small entities, in |
the circumstances set out in note 2 to the financial statements. We believe that the audit evidence |
we have obtained is a sufficient and appropriate basis for our opinion. |
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Emphasis of matter - non-going concern basis of preparation |
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We draw attention to the disclosure made in note 2 to the financial statements which explains that |
the financial statements have not been prepared on the going concern basis for the reasons set |
out in that note. Our opinion is not modified in respect of this matter. |
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Directors' report |
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The Directors are responsible for the Directors' report. Our opinion on the financial statements |
does not cover this report and we do not express an audit opinion thereon. |
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Our responsibility is to read the Directors' report and, in doing so, consider whether, based on our |
financial statements audit work, the information therein is materially misstated or inconsistent with |
the financial statements or our audit knowledge. Based solely on that work: |
- | we have not identified material misstatements in the Directors' report; |
- | in our opinion the information given in those reports for the financial year is consistent with |
the financial statements; and |
- | in our opinion those reports have been prepared in accordance with the Companies |
Act 2006. |
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Matters on which we are required to report by exception |
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Under the Companies Act 2006 we are required to report to you if, in our opinion: |
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- | adequate accounting records have not been kept, or returns adequate for our audit have not |
been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of Directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
Report of the Independent Auditors to the Members of |
Care UK Healthcare (Southeast) Limited |
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the Directors were not entitled to take advantage of the small companies exemption from
the requirement to |
prepare a Strategic report |
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We have nothing to report these respects. |
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Directors' responsibilities |
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As explained more fully in their statement set out on page 3, the Directors are responsible for: the |
preparation of the financial statements and for being satisfied that they give a true and fair view; |
such internal control as they determine is necessary to enable the preparation of financial |
statements that are free from material misstatement, whether due to fraud or error; assessing the |
Company's ability to continue as a going concern, disclosing, as applicable, matters related to |
going concern; and using the going concern basis of accounting unless they either intend to |
liquidate the company or to cease operations, or have no realistic alternative but to do so |
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Auditor's responsibilities |
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Our objectives are to obtain reasonable assurance about whether the financial statements as a |
whole are free from material misstatement, whether due to fraud or error, and to issue our opinion |
in an auditor's report. Reasonable assurance is a high level of assurance, but does not guarantee |
that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement |
when it exists. Misstatements can arise from fraud or error and are considered material if, |
individually or in aggregate, they could reasonably be expected to influence the economic |
decisions of users taken on the basis of the financial statements. |
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A fuller description of our responsibilities is provided on the FRC's website at |
www.frc.org.uk/auditorsresponsibilities. |
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The purpose of our audit work and to whom we owe our responsibilities |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of |
Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to |
the company's members those matters we are required to state to them in an auditor's report and |
for no other purpose. To the fullest extent permitted by law, we do not accept or assume |
responsibility to anyone other than the company and the company's members, as a body, for our |
audit work, for this report, or for the opinions we have formed. |
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for and on behalf of
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Chartered Accountants |
Registered Auditors |
Regus, 4th Floor |
Salt Quay House |
6 North East Quay |
Plymouth |
PL4 0HP |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Statement of Comprehensive Income |
for the Year Ended 30 September 2019 |
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2019 | 2018 |
Notes | £'000 | £'000 |
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Turnover |
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- | - |
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Exceptional items | 4 |
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Profit before taxation | 5 |
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Tax on profit |
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Profit for the financial year |
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Other comprehensive income | - | - |
Total comprehensive income for
the year |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Balance Sheet |
30 September 2019 |
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2019 | 2018 |
Notes | £'000 | £'000 |
Current assets |
Debtors | 6 |
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Creditors |
Amounts falling due within one year | 7 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 8 |
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Profit and Loss account | 9 |
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Shareholders' funds |
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The financial statements were approved by the Board of Directors on
signed on its behalf by: |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Statement of Changes in Equity |
for the Year Ended 30 September 2019 |
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Called up | Profit and |
share | Loss | Total |
capital | account | equity |
£'000 | £'000 | £'000 |
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Balance at 1 October 2017 |
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Changes in equity |
Profit for the year | - | - | - |
Balance at 30 September 2018 |
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Changes in equity |
Profit for the year | - | 101 | 101 |
Total comprehensive income | - |
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Dividends | - | ( |
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Reduction in share capital | (1,000 | ) | 1,000 | - |
Balance at 30 September 2019 |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | Statutory information |
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Care UK Healthcare (Southeast) Limited is a private company, limited by shares , registered |
in England and Wales. The company's 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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The financial statements have not been prepared on the going concern basis. The Directors |
took the decision not to tender for contracts in the Company, and there will be no more |
on-going activities within the Company. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting |
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of |
Ireland', not to disclose related party transactions with wholly owned subsidiaries within the |
group. |
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Critical accounting judgements and key sources of estimation uncertainty |
The preparation of the Financial Statements in conformity with FRS 102 require |
management to make estimates and assumptions that affect the reported amounts of assets |
and liabilities at the date of the Financial Statements. Management bases its estimates on |
historical experience and various other assumptions that are believed to be reasonable |
under the circumstances. Actual results may defer from the estimates. Estimates and |
assumptions are reviewed periodically and the effects of revisions are reflected in the |
Financial Statements in the year that an adjustment is determined to be required. |
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Management regularly discusses with the Group Audit Committee the development, |
selection and disclosure of the company's critical accounting policies and estimates and the |
application of these policies and estimates. |
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There are no significant accounting judgements in the year. |
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3. | Directors' emoluments |
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The Directors received £nil emoluments during the financial year ended 30 September 2019 |
for their services to the Company (2018: £nil). |
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4. | Exceptional items |
2019 | 2018 |
£'000 | £'000 |
Exceptional items |
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The amount stated represents the reversal of creditor balances no longer required |
Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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5. | Profit before taxation |
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The remuneration of the auditor in the year of £1,200 (2018: £1,200) was borne by another |
group company and is management's best estimate of the proportion relating to this |
company. |
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6. | Debtors: amounts falling due within one year |
2019 | 2018 |
£'000 | £'000 |
Amounts owed by group undertakings |
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The amounts owed by Care UK Limited, a parent undertaking, bear no interest. The loan |
was unsecured. |
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7. | Creditors: amounts falling due within one year |
2019 | 2018 |
£'000 | £'000 |
Trade creditors |
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8. | 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 | 1 | 1,000,001 |
(2018 -
1,000,001 ) |
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The share capital of the Company has been reduced from 1,000,001 ordinary shares of £1 |
each (which have been issued and are fully paid up) to one ordinary share with a nominal |
value of £1 and that such reduction be effected by returning to the holders of the said shares |
paid-up capital of £1 per share. |
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9. | Reserves |
Profit and |
Loss |
account |
£'000 |
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At 1 October 2018 |
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Profit for the year |
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Dividends | ( |
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Reduction in share capital | 1,000 |
At 30 September 2019 |
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Care UK Healthcare (Southeast) Limited (Registered number: 04877889) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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10. | Ultimate controlling party |
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The controlling party is Care UK Limited. |
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The ultimate controlling party is
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Bridgepoint Europe IV (Nominees) Limited holds 78.2% of the issued ordinary share capital |
that carries voting rights of Care UK Health & Social Care Holdings Limited as nominee for |
Bridgepoint Europe IV "A" LP, Bridgepoint Europe IV "B" LP, Bridgepoint Europe IV "C" LP, |
Bridgepoint Europe IV "D" LP, Bridgepoint Europe IV "E" LP, Bridgepoint Europe IV "F" LP |
and Bridgepoint Europe IV "G" LP (together the "BEIV Fund"). The BEIV Fund is managed |
by Bridgepoint. |
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Copies of the Financial Statements of Care UK Health & Social Care Holdings Limited, the |
largest group consolidated Financial Statements which include the results of this company, |
are available from its registered office at: |
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Connaught House |
850 The Crescent |
Colchester Business Park |
Colchester |
Essex |
CO4 9QB |