Company registration number:
PCT Healthcare (Properties) Limited
for the Year Ended 30 November 2020
PCT Healthcare (Properties) Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
PCT Healthcare (Properties) Limited
Company Information
Directors |
Mrs A J Cattee Mr G A Tims Mr P Cattee |
Company secretary |
Mrs A J Cattee |
Registered office |
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Auditors |
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PCT Healthcare (Properties) Limited
(Registration number: 06473541)
Balance Sheet as at 30 November 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
.........................................
Director
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit and loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Audit report
Revenue recognition
Turnover comprises rents and similar income receivable during the year, net of value added tax, where applicable.
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures fittings and equipment |
10% straight line |
Investment property
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit and loss.
If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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At 1 December 2019 |
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Additions |
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At 30 November 2020 |
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Depreciation |
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At 1 December 2019 |
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Charge for the year |
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At 30 November 2020 |
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Carrying amount |
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At 30 November 2020 |
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At 30 November 2019 |
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Investment properties |
2020 |
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At 1 December |
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Additions |
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Disposals |
( |
Fair value adjustments |
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At 30 November |
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The investment properties have been valued at their market value based on valuations by W T Gunson Chartered Surveyors as at 30 November 2020.
Impairment of investment property
The amount of impairment loss included in profit or loss is £39,919 (2019 - £736,093) .
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
Debtors |
Note |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Less non-current portion |
( |
( |
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Details of non-current trade and other debtors
£346334 (2019 -£179,753) of Deferred tax asset is classified as non current.
Creditors |
Creditors: amounts falling due within one year
Note |
2020 |
2019 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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Other creditors |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of contingencies not included in the balance sheet is £39,461,733
(2019 - £45,461,733)
. The company is party to a cross guarantee arrangement. The company is potentially liable for £39,461,733, but the directors do not consider it likely that this guarantee will be called upon.
The company is party to a debenture including a fixed charge over all present freehold and long leasehold property: the fixed charge over book and other debtors. chattel, goodwill and uncalled capital both present and future, and first floating charge over all assets and undertakings both present and future.
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
Related party transactions |
The company has relied upon the exemptions to group companies preparing consolidated financial statements and has not disclosed inter company transactions.
Loans to related parties
2020 |
Parent |
Subsidiary |
Total |
At start of period |
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At end of period |
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2019 |
Parent |
Subsidiary |
Total |
At start of period |
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- |
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Advanced |
- |
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At end of period |
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Terms of loans to related parties
Loans from related parties
2020 |
Subsidiary |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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2019 |
Subsidiary |
Total |
At start of period |
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Repaid |
( |
( |
Impairment |
( |
( |
At end of period |
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Terms of loans from related parties
PCT Healthcare (Properties) Limited
Notes to the Financial Statements for the Year Ended 30 November 2020
Parent and ultimate parent undertaking |
The company's immediate parent is
Non adjusting events after the financial period |
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