|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 30 June 2018 |
|
for |
|
Manage Care Homes Limited |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
For The Year Ended 30 June 2018 |
|
for |
|
Manage Care Homes Limited |
Manage Care Homes Limited (Registered number: 05344617) |
|
|
|
|
|
|
Contents of the Financial Statements |
For The Year Ended 30 June 2018 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
Manage Care Homes Limited |
|
Company Information |
For The Year Ended 30 June 2018 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
276 Preston Road |
Harrow |
Middlesex |
HA3 0QA |
Manage Care Homes Limited (Registered number: 05344617) |
|
Balance Sheet |
30 June 2018 |
|
30/6/18 | 30/6/17 |
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
) |
( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Profit and loss account |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
Manage Care Homes Limited (Registered number: 05344617) |
|
Balance Sheet - continued |
30 June 2018 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
|
The financial statements were approved by the Board of Directors on
by: |
|
|
|
|
Mr M Shah - Director | Mr P N Shah - Director |
|
|
|
|
Mr S P Shah - Director |
|
Manage Care Homes Limited (Registered number: 05344617) |
|
Notes to the Financial Statements |
For The Year Ended 30 June 2018 |
|
1. | STATUTORY INFORMATION |
|
Manage Care Homes Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Turnover from the rendering of care home services for the elderly, provision of ancillary care to patients and |
review of ancillary businesses is recognised by reference to the stage of completion of the contract. |
|
Goodwill |
Externally purchased goodwill is stated at cost less accumulated amortisation and accumulated impairment |
losses. Goodwill is amortised over its estimated useful life of ten years on straight line basis from transition date |
of new UK GAAP FRS 102. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
|
Tangible fixed assets |
|
Freehold property | - |
|
Fixtures and fittings | - |
|
|
The freehold property is maintained to a high standard and any depreciation charge would be immaterial. |
Therefore depreciation was at nil rate. This is a departure from the requirement of Companies Act 2006 and UK |
GAAP. However in the opinion of the directors this approach is adopted to give a true and fair view. |
|
Financial instruments |
The Company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to |
related parties. |
|
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for |
objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised |
in profit or loss. |
|
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an |
enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise |
the asset and settle the liability simultaneously. |
|
Manage Care Homes Limited (Registered number: 05344617) |
|
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2018 |
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
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. |
|
Debtors |
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the |
arrangement constitutes a financing transaction, where the transaction is measured at the present value of the |
future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost |
using the effective interest method, less any impairment. |
|
Cash and cash equivalents |
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and |
other short-term highly liquid investments that mature in no more than three months from the date of acquisition |
and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
|
Creditors |
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related |
parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, |
where the debt instrument is measured at the present value of the future payments discounted at a market rate of |
interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any |
impairment. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 July 2017 |
and 30 June 2018 |
|
AMORTISATION |
At 1 July 2017 |
|
Charge for year |
|
At 30 June 2018 |
|
NET BOOK VALUE |
At 30 June 2018 |
|
At 30 June 2017 |
|
Manage Care Homes Limited (Registered number: 05344617) |
|
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2018 |
|
5. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | and |
property | fittings | Totals |
£ | £ | £ |
COST |
At 1 July 2017 |
|
|
|
Additions |
|
|
|
At 30 June 2018 |
|
|
|
DEPRECIATION |
At 1 July 2017 |
|
|
|
Charge for year |
|
|
|
At 30 June 2018 |
|
|
|
NET BOOK VALUE |
At 30 June 2018 |
|
|
|
At 30 June 2017 |
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/18 | 30/6/17 |
£ | £ |
Trade debtors |
|
|
Other debtors |
|
|
Prepayments |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/18 | 30/6/17 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Tax |
|
|
Social security and other taxes |
|
|
Other creditors |
|
|
Directors' current accounts | 1,199 | 7,643 |
Accrued expenses |
|
|
|
|
|
8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
30/6/18 | 30/6/17 |
£ | £ |
Bank loans - 1-2 years |
|
|
Bank loans - 2-5 years |
|
|
Bank loans more 5 yr by instal |
|
|
|
|
Manage Care Homes Limited (Registered number: 05344617) |
|
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2018 |
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
30/6/18 | 30/6/17 |
£ | £ |
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | - | 1,504,709 |
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
30/6/18 | 30/6/17 |
£ | £ |
Bank loans |
|
|
|
10. | RELATED PARTY DISCLOSURES |
|
Mr P N Shah |
Mr P N Shah is a director and shareholder of the company. |
The balance is interest-free and payable on demand. |
|
30/6/18 | 30/6/17 |
£ | £ |
Dividend paid | 26,250 | 30,000 |
Amount due to related party at the balance sheet date | 405 | 4,072 |
|
Mrs B P Shah |
Mr B P Shah is a shareholder of the company. |
The balance is interest-free and payable on demand. |
|
30/6/18 | 30/6/17 |
£ | £ |
Dividend paid | 34,000 | 34,000 |
Amount due to related party at the balance sheet date | 225 | 225 |
|
Mrs S S Shah |
Mrs S S Shah is a shareholder of the company and wife of Mr S P Shah who is a director of the company. |
The balance is interest-free and payable on demand. |
|
30/6/18 | 30/6/17 |
£ | £ |
Dividend paid | 49,250 | 33,000 |
Amount due to related party at the balance sheet date | 351 | 1,065 |
|
|
Mr M Shah |
Mr M Shah is a director and shareholder of the company. |
The balance is interest-free and payable on demand. |
|
30/06/18 | 30/06/17 |
£ | £ |
Dividend paid | 68,500 | 53,000 |
Amount due to related party at the balance sheet date | 218 | 2,282 |