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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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ADL DERBY LIMITED |
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REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017 |
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FOR |
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ADL DERBY LIMITED |
ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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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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ADL DERBY LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
4th & 5th Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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BALANCE SHEET |
31 MARCH 2017 |
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31.3.17 | 31.3.16 |
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 LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 7 |
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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
by: |
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ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
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1. | STATUTORY INFORMATION |
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ADL Derby Limited is a
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registered number and registered office address can be found on the Company Information page. |
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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. |
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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, ADL plc. 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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Tangible fixed assets |
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Freehold property | - |
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Fixtures and fittings | - |
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Tangible fixed assets, 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. The cost of properties is their purchases price |
together with the cost of improvement works. |
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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 profit or loss. |
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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 |
profit or loss. |
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ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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 tax |
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. |
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Basic 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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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. The assets of the scheme are held separately |
from those of the company in an independently administered fund. The pension costs represents contributions |
payable under the scheme by the company to the fund. The company has no liability under the scheme other |
than for the payment of those contributions. |
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Contributions outstanding at the balance sheet date amounted to £Nil (2016 - £Nil). |
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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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ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 April 2016 |
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Revaluations |
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At 31 March 2017 |
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DEPRECIATION |
At 1 April 2016 |
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Charge for year |
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At 31 March 2017 |
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NET BOOK VALUE |
At 31 March 2017 |
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At 31 March 2016 |
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Included in cost or valuation of land and buildings is freehold land of £ 360,000 (2016 - £ 360,000 ) which is not |
depreciated. |
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Cost or valuation at 31 March 2017 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2017 | 1,860,000 | 25,000 | 1,885,000 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.17 | 31.3.16 |
£ | £ |
Trade creditors |
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Amounts owed to group undertaking |
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Taxation and social security |
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Other creditors |
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ADL DERBY LIMITED (REGISTERED NUMBER: 09729206) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
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7. | RESERVES |
Revaluation |
reserve |
£ |
Deferred tax on revaluations | (60,150 | ) |
Revaluations | 413,673 |
Depreciation transfer | (8,273 | ) |
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At 31 March 2017 |
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8. | 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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9. | CONTINGENT LIABILITIES |
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The group's bank loans, as held by ADL plc, are secured by legal mortgages, and fixed and floating charges |
over the group's assets, being the group's properties, book debts, plant and machinery and other assets and the |
business undertakings. The company has guaranteed these borrowings. The extent of the group's liability at 31 |
March 2017 was £9,207,401. The directors consider it to be highly unlikely that any liability will crystallise for the |
company as as a result of this guarantee. |
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10. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary company of ADL plc (a company incorporated in England and |
Wales). ADL plc prepares consolidated financial statements and can be obtained from ADL plc's registered |
office. The directors consider these accounts to be both the smallest and largest group of undertakings for which |
group accounts are prepared. |
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At the reporting date, in the directors' opinion, Mr W J Davies was the ultimate controlling party. There has been |
no change between the reporting date and date of approval of the financial statements. |