Company Registration No. 09011736 (England and Wales)
ASHLANDS NH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2019
PAGES FOR FILING WITH REGISTRAR
ASHLANDS NH LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
ASHLANDS NH LIMITED
BALANCE SHEET
AS AT
30 MARCH 2019
30 March 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,517
2,625
Current assets
Stocks
795
638
Debtors
5
63,457
51,847
64,252
52,485
Creditors: amounts falling due within one year
6
(61,152)
(48,325)
Net current assets
3,100
4,160
Total assets less current liabilities
4,617
6,785
Creditors: amounts falling due after more than one year
7
(4,092)
(6,232)
Provisions for liabilities
(258)
(446)
Net assets
267
107
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
265
105
Total equity
267
107
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 30 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ASHLANDS NH LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 MARCH 2019
30 March 2019
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 19 February 2020 and are signed on its behalf by:
Mr J L O'Rourke
Director
Company Registration No. 09011736
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 MARCH 2019
- 3 -
1
Accounting policies
Company information
Ashlands NH Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
Mentor House, Ainsworth Street, Blackburn, Lancashire, BB1 6AY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The company finances its operations by means of a bank loan and overdraft facility. The directors are not aware of any reason why these facilities will not be maintained at their current level. As a result the directors have continued to adopt the going concern basis in preparing the financial statements.
true
1.3
Turnover
Turnover represents amounts receivable for
nursing home services.
1.4
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
15% straight line
Fixtures, fittings & equipment
25% straight line
1.5
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.6
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Leases
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2019
1
Accounting policies
(Continued)
- 4 -
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 23 (2018: 23).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2018 and 30 March 2019
145,280
Amortisation and impairment
At 1 April 2018 and 30 March 2019
145,280
Carrying amount
At 30 March 2019
-
At 31 March 2018
-
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2018 and 30 March 2019
9,645
Depreciation and impairment
At 1 April 2018
7,020
Depreciation charged in the year
1,108
At 30 March 2019
8,128
Carrying amount
At 30 March 2019
1,517
At 31 March 2018
2,625
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2019
- 5 -
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
44,745
51,638
Other debtors
18,712
209
63,457
51,847
Other debtors comprise prepayments £228 (2018: £209) and overdrawn directors' loan account of £18,484 (2018: £nil).
6
Creditors: amounts falling due within one year
2019
2018
Notes
£
£
Bank loans and overdrafts
7
12,859
7,597
Corporation tax
14,921
12,661
Other taxation and social security
24,818
7,094
Other creditors
-
13,122
Accruals and deferred income
8,554
7,851
61,152
48,325
Other creditors comprise directors' loan account £nil (2018: £13,122).
7
Creditors: amounts falling due after more than one year
2019
2018
£
£
Bank loans and overdrafts
4,092
6,232
The bank loan totalling £6,817 (2018: £9,542) is secured by an unsupported personal guarantee from the directors.
8
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
9
Directors' transactions
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 MARCH 2019
9
Directors' transactions
(Continued)
- 6 -
Transactions in relation to loans with directors during the period are outlined in the table below:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Mr J L O'Rourke -
-
6,561
4,400
(20,203)
(9,242)
Mrs M A O'Rourke -
-
6,561
4,400
(20,203)
(9,242)
13,122
8,800
(40,406)
(18,484)