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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019 |
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CHARLTON COURT CARE HOME LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019 |
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FOR |
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CHARLTON COURT CARE HOME LIMITED |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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CHARLTON COURT CARE HOME LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 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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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
Fourth & Fifth Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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BALANCE SHEET |
30 APRIL 2019 |
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30.4.19 | 30.4.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 8 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 9 |
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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 Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors on
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2019 |
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1. | STATUTORY INFORMATION |
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Charlton Court Care Home Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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The principal trading address is: Bristol Drive, Battle Hill Estate, Wallsend. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with applicable United Kingdom accounting |
standards, including Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard |
applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The |
financial statements have been prepared on the historical cost basis, unless otherwise stated. The company has |
early adopted FRS 102 Section 1A in accordance with the requirements in section 1.15 of FRS 102. |
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All transactions and balances are stated in Sterling. |
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Going concern |
The company is expected to continue to generate positive cash flows for the foreseeable future and for not less |
than 12 months from the date of this report. On the basis of their assessment of the company's financial position, |
the directors have a reasonable expectation that the company will be able to continue in operational existence |
for the foreseeable future which is not less than 12 months from the date of approving these financial |
statements. Financial resources include the support provided by the parent entity, Oakhurst Court Holdings |
Limited. Thus they continue to adopt the going concern basis of accounting in preparing the annual financial |
statements. |
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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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Significant judgements and estimates |
In preparing these financial statements, the company has made judgements, estimates and assumptions that |
effect the application of accounting policies and the reported amounts of assets, liabilities, income and |
expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed |
on an ongoing basis. Revision to estimates are recognised prospectively. |
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Turnover |
Turnover represents the fair value of consideration receivable in the ordinary course of business for goods and |
services provided. |
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Revenue from residents of the care homes is recognised as earned, through the provision contracted services. |
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Turnover wholly arises within the United Kingdom. |
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Pension costs |
From 1 April 2015, under the Pensions Act 2008, the company must put certain staff into a pension scheme and |
contribute towards it. This is called automatic enrolment. To comply with automatic enrolment laws, the company |
signed a participation agreement with a pension provider by which staff become members of an independently |
administered pension plan. The company and staff make contributions as specified in the plan. The assets of the |
plan are held separately from those of the company. The company has no liability under the plan other than for |
the payment of those contributions. |
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Contributions outstanding at the balance sheet date amounted to £4,816 (2018: £1,620). |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Tangible fixed assets, excluding freehold and leasehold land and buildings, are initially measured at historic cost |
and subsequently carried at cost less accumulated depreciation and any accumulated impairment losses. All |
costs incurred to bring an asset into its intended working condition are included in the measurement of cost. |
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Freehold and leasehold land and buildings are initially measured at historic cost and subsequently at their |
revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation |
and subsequent accumulated impairment losses. The cost of properties is their purchase price together with the |
cost of improvement works. Fair value is determined on an open market basis by an independent professional |
advisor qualified by the Royal Institution of Chartered Surveyors to undertake valuation. Valuations are taken on |
a regular basis to ensure that the carrying amount does not differ materially from fair value at the reporting date. |
The company undertakes a review on a rolling basis over a five year-period. |
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Changes in fair value are disclosed in other comprehensive income and taken to a separate revaluation reserve. |
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Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less |
estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
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Residential freehold land | - | not depreciated |
Residential freehold buildings | - | 50 years |
Residential leasehold buildings | - | over lease term |
Plant and machinery | - | 4 years |
Fixtures and fittings | - | 4 years |
Office equipment | - | 3 years |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in the profit and loss account. |
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If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate |
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment |
loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in |
the profit and loss account. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss account, 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 balance sheet date. |
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Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet 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. |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
a) Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method, less any impairment. |
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b) Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost |
using the effective interest method. |
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c) Cash at bank and in hand |
Cash and cash equivalents comprise cash balances and call deposits and petty cash. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Freehold | machinery |
property | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2018 |
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Additions |
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At 30 April 2019 |
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DEPRECIATION |
At 1 May 2018 |
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Charge for year |
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At 30 April 2019 |
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NET BOOK VALUE |
At 30 April 2019 |
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At 30 April 2018 |
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Cost or valuation at 30 April 2019 is represented by: |
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Plant and |
Freehold | machinery |
property | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 2,942,207 | - | 2,942,207 |
Cost | 1,057,793 | 285,103 | 1,342,896 |
4,000,000 | 285,103 | 4,285,103 |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Trade debtors |
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Amount owed by group undertaking |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.19 | 30.4.18 |
£ | £ |
Amount owed to group undertaking |
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8. | PROVISIONS FOR LIABILITIES |
30.4.19 | 30.4.18 |
£ | £ |
Deferred tax | 535,760 | 540,633 |
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Deferred |
tax |
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Balance at 1 May 2018 |
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Depreciation in excess |
of capital allowances | (4,873 | ) |
Property revaluation |
Balance at 30 April 2019 |
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9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2018 |
and 30 April 2019 |
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10. | 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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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2019 |
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11. | RELATED PARTY DISCLOSURES |
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Mr W J Davies and Mrs P L Jackson are directors of ADL PLC, a company with which Charlton Court Care |
Home Limited have entered into a partnership agreement. In the current period, £414,465 (2018: £375,582) was |
due from Charlton Court Care Home Limited to ADL PLC under that agreement. At the reporting date, ADL PLC |
was owed a total of £405,093 (2018:£282,284). The amount is unsecured, interest free and repayable on |
demand. |
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12. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary company of Oakhurst Court Holdings Limited (a company |
incorporated in England and Wales). Oakhurst Court Holdings Limited prepares consolidated financial |
statements and can be obtained from Oakhurst Court Holdings Limited's registered office. The directors consider |
these accounts to be the smallest group of undertakings for which group accounts are prepared. |
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At the reporting date, in the directors' opinion, Mr H Harford was the ultimate controlling party. There has been |
no change between the reporting date and date of approval of the financial statements. |