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Audited Financial Statements |
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for the Year Ended 30 November 2018 |
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for |
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Mappleton House Care Homes Limited |
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REGISTERED NUMBER:
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Audited Financial Statements |
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for the Year Ended 30 November 2018 |
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for |
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Mappleton House Care Homes Limited |
Mappleton House Care Homes Limited (Registered number: 05861707) |
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Contents of the Financial Statements |
for the Year Ended 30 November 2018 |
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Page |
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Company Information | 1 |
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Abridged Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Mappleton House Care Homes Limited |
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Company Information |
for the Year Ended 30 November 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants & |
Statutory Auditor |
3rd Floor |
Butt Dyke House |
33 Park Row |
Nottingham |
NG1 6EE |
Mappleton House Care Homes Limited (Registered number: 05861707) |
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Abridged Statement of Financial Position |
30 November 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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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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Other reserves |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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 on
behalf by: |
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Mappleton House Care Homes Limited (Registered number: 05861707) |
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Notes to the Financial Statements |
for the Year Ended 30 November 2018 |
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1. | STATUTORY INFORMATION |
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Mappleton House Care Homes Limited is a
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and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Furthermore, the company ceased trading on 5 June 2019 and the financial statements have been |
prepared on a break up basis. |
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Turnover |
Turnover is the amount derived from the letting of the company's property. Turnover is recognised |
when the company becomes entitled to the rent due. |
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Investment property |
Investment property is shown at fair value. Any aggregate surplus or deficit arising from changes in fair |
value is recognised in profit or loss. |
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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 statement of financial position 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 statement of financial position 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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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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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2017 - NIL). |
Mappleton House Care Homes Limited (Registered number: 05861707) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1 December 2017 |
and 30 November 2018 | 350,298 |
AMORTISATION |
At 1 December 2017 |
and 30 November 2018 | 350,298 |
NET BOOK VALUE |
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At 30 November 2018 |
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At 30 November 2017 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 December 2017 |
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Revaluations | ( |
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At 30 November 2018 |
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NET BOOK VALUE |
At 30 November 2018 |
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At 30 November 2017 |
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Investment properties with a carrying value of £965,000 were pledged as security for the group's |
borrowing facilities at the balance sheet date. Following a change of ownership on 10 May 2019, all of |
the charges in existence at that date were satisfied. |
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Fair value at 30 November 2018 is represented by: |
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£ |
Valuation in 2013 | 16,758 |
Valuation in 2017 | 236,565 |
Valuation in 2018 | (315,806 | ) |
Cost | 1,027,483 |
965,000 |
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The cost value shown above is the original cost of the tangible fixed assets transferred to investment |
property. The fair value adjustments shown are net of depreciation on the assets transferred. |
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The investment property has been included at fair value. A valuation was performed by Christie & Co |
in October 2018. |
Mappleton House Care Homes Limited (Registered number: 05861707) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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6. | LEASING AGREEMENTS |
Future minimum rentals receivable under non-cancellable operating leases fall due as follows: |
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2018 | 2017 |
£ | £ |
Within one year | 36,000 | 36,000 |
Between one and five years | 84,000 | 120,000 |
In more than five years | - | - |
120,000 | 156,000 |
The lease is a five year lease at £36,000 per annum ending on 29 March 2022, with a review on 30 |
April 2019. |
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The investment property and its associated income was transferred to a connected party at market |
value on 5 June 2019. |
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7. | SECURED DEBTS |
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Lloyds Bank plc held a debenture and legal charge over the assets of the company. In addition Lloyds |
Bank plc held in their favour an omnibus guarantee and set-off agreement for the company and for |
other companies within the group. Following a change of ownership on 10 May 2019, all the charges in |
existence at that date were satisfied. |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary | £1 | 1 | 1 |
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9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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10. | RELATED PARTY DISCLOSURES |
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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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11. | POST BALANCE SHEET EVENTS |
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On 10 May 2019 the entire share capital of the company was acquired by The Esland Group Holdings |
Limited, following the exercise of an option. |
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On 5 June 2019 the investment property was sold to a connected party for £965,000. |
Mappleton House Care Homes Limited (Registered number: 05861707) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 November 2018 |
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12. | CONTROL RELATIONSHIP |
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At the balance sheet date the immediate parent undertaking was Rushcliffe Care Limited by virtue of |
its majority shareholding of the issued ordinary share capital. The registered office is 3rd Floor Butt |
Dyke House, 33 Park Row, Nottingham, NG1 6EE. |
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The ultimate controlling party at that date was the director, S Rai, by virtue of his majority shareholding |
in the ultimate parent company Rushcliffe Care Holdings Limited. |
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Copies of the group accounts for Rushcliffe Care Holdings Limited are available from Companies |
House. This is the only group that the company is consolidated into for the year. |
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Following the acquisition of the entire share capital of the company by The Esland Group Holdings |
Limited, on 10 May 2019, the ultimate parent company became August Equity LLP. No individual |
member can exercise control over August Equity LLP |