Registration number:
(A company limited by guarantee)
for the
Year Ended
Hazlewoods LLP
Windsor House
Bayshill Road
Cheltenham
GL50 3AT
New Start Supported Housing
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
New Start Supported Housing
Company Information
Directors |
C I Cameron D A Sergeant |
Registered office |
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Solicitors |
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Bankers |
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Auditors |
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New Start Supported Housing
(Registration number: 07099186)
Balance Sheet as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
|
|
|
Current assets |
|||
Debtors: Amounts falling due within one year |
706,037 |
3,239,627 |
|
Debtors: Amounts falling due after more than one year |
2,613,339 |
- |
|
Cash at bank and in hand |
|
|
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
|
( |
|
Total assets less current liabilities |
|
- |
|
Creditors: Amounts falling due after more than one year |
( |
- |
|
Net assets |
- |
- |
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Capital and reserves |
|||
Total equity |
- |
- |
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
New Start Supported Housing
Notes to the Financial Statements for the Year Ended 31 March 2020
General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
The address of its registered office is:
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 except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Name of parent of group
These financial statements are consolidated in the financial statements of Pine Topco Limited.
The financial statements of Pine Topco Limited may be obtained from Companies House..
Going concern
On 20 June 2019, Pine Topco Limited through its subsidiary Pine Bidco Limited acquired 100% of the ordinary share capital of the company. The directors consider that, having reviewed both the funding arrangements for the new group and the company, profit and cashflow forecasts for the next 12 months that the company has sufficient resources to continue in operational existence for the foreseeable future and have continued to adopt the going concern basis in preparing the financial statements.
Judgements and estimation uncertainty
These financial statements do not contain any significant judgements or estimation uncertainty. |
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net returns, rebates and discounts and after eliminating sales within the company. The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.
New Start Supported Housing
Notes to the Financial Statements for the Year Ended 31 March 2020
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or credits in the company. Deferred tax is determined using tax rates that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely that not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land, over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Leasehold improvements |
Over the term of the lease |
Fixtures and fittings |
25% straight line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
New Start Supported Housing
Notes to the Financial Statements for the Year Ended 31 March 2020
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.
Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
New Start Supported Housing
Notes to the Financial Statements for the Year Ended 31 March 2020
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
2020 |
2019 |
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Average number of employees |
7 |
7 |
Tangible assets |
Leasehold land and buildings |
Fixtures and fittings |
Motor vehicles |
Total |
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Cost |
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At 1 April 2019 |
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Additions |
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- |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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- |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
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|
- |
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At 31 March 2019 |
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- |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Other debtors |
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Prepayments |
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Amounts owed by group undertakings |
2,613,339 |
2,892,173 |
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Less non-current portion |
( |
- |
Details of non-current trade and other debtors
£2,613,339 (2019 - £Nil) of Amounts due from group undertakings is classified as non-current.
New Start Supported Housing
Notes to the Financial Statements for the Year Ended 31 March 2020
Creditors |
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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Other creditors |
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Accrued expenses |
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Due after one year |
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Amounts owed to group undertakings |
2,963,019 |
- |
Company status |
The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation.
Parent and ultimate parent undertaking |
Prior to 20 June 2019, the immediate parent was Aspirations (Bidco) Limited, the ultimate parent was Aspirations (Topco) Limited and the ultimate controlling party was August Equity Partners III GP Limited.
Since 20 June 2019 the company's immediate parent has been
The ultimate parent is
The ultimate controlling party is
Audit report |