Company Registration No. 09011736 (England and Wales)
ASHLANDS NH LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2018
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
31 MARCH 2018
31 March 2018
- 1 -
2018
2017
Notes
£
£
£
£
Fixed assets
Intangible assets
3
-
8,070
Tangible assets
4
2,625
4,270
Current assets
Stocks
638
746
Debtors
5
51,847
52,756
52,485
53,502
Creditors: amounts falling due within one year
6
(48,325)
(52,941)
Net current assets
4,160
561
Total assets less current liabilities
6,785
12,901
Creditors: amounts falling due after more than one year
7
(6,232)
(10,453)
Provisions for liabilities
(446)
(811)
Net assets
107
1,637
Capital and reserves
Called up share capital
8
2
2
Profit and loss reserves
105
1,635
Total equity
107
1,637
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 31 March 2018 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
31 MARCH 2018
31 March 2018
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 17 December 2018 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 31 MARCH 2018
- 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 overdraft facility and a third party loan. 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.
1.3
Turnover
Turnover represents amounts receivable for
nursing home services.
1.4
Intangible fixed assets - goodwill
Acquired goodwill
has been
written off in equal annual instalments over its estimated useful economic life
of three years
.
1.5
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
1.6
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.
1.7
Cash and cash equivalents
Cash at bank and in hand
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
1
Accounting policies
(Continued)
- 4 -
1.9
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to income 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 asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 23 (2016 - 23).
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2017 and 31 March 2018
145,280
Amortisation and impairment
At 1 April 2017
137,210
Amortisation charged for the year
8,070
At 31 March 2018
145,280
Carrying amount
At 31 March 2018
-
At 31 March 2017
8,070
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2017 and 31 March 2018
9,645
Depreciation and impairment
At 1 April 2017
5,375
Depreciation charged in the year
1,645
At 31 March 2018
7,020
Carrying amount
At 31 March 2018
2,625
At 31 March 2017
4,270
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 5 -
5
Debtors
2018
2017
Amounts falling due within one year:
£
£
Trade debtors
51,638
52,558
Other debtors
209
198
51,847
52,756
Other debtors comprise prepayments £209 (2017 £198).
6
Creditors: amounts falling due within one year
2018
2017
Notes
£
£
Bank loans and overdrafts
7
7,597
21,179
Other loans
-
6,121
Corporation tax
12,661
4,369
Other taxation and social security
7,094
6,859
Other creditors
13,122
9,122
Accruals and deferred income
7,851
5,291
48,325
52,941
Other creditors comprise directors loan account £16,122 (2017 £9,122).
7
Creditors: amounts falling due after more than one year
2018
2017
£
£
Bank loans and overdrafts
6,232
10,453
The bank loan totalling £9,542 (2017 £12,851) is secured by an unsupported personal guarantee from the directors.
8
Called up share capital
2018
2017
£
£
Ordinary share capital
Issued and fully paid
2 Ordinary shares of £1 each
2
2
2
2
ASHLANDS NH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2018
- 6 -
9
Control
The company is owned jointly by the two directors, Mr J L O'Rourke and Mrs M A O'Rourke who each own 50% of the issued voting share capital.