Company Registration No. 11898139 (England and Wales)
THE BOLTONS CARE HOME LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2021
THE BOLTONS CARE HOME LTD
CONTENTS
Page
Directors' report
1
Accountants' report
2
Balance sheet
3 - 4
Notes to the financial statements
5 - 10
THE BOLTONS CARE HOME LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 JULY 2021
- 1 -
The directors present their annual report and financial statements for the Period ended 30 July 2021.
Directors
The directors who held office during the Period and up to the date of signature of the financial statements were as follows:
Mrs P Juggurnauth
Mr V Juggurnauth
Mrs S Giani
Mr L Juggurnauth
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mrs P Juggurnauth
Director
18 July 2022
THE BOLTONS CARE HOME LTD
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY ACCOUNTS OF THE BOLTONS CARE HOME LTD
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Boltons Care Home Ltd for the Period ended 30 July 2021 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of The Boltons Care Home Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Boltons Care Home Ltd and state those matters that we have agreed to state to the Board of Directors of The Boltons Care Home Ltd, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants
as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Boltons Care Home Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that The Boltons Care Home Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets,
liabilities, financial position and profit
of The Boltons Care Home Ltd. You consider that The Boltons Care Home Ltd is exempt from the statutory audit
requirement for the Period.
We have not been instructed to carry out an audit or a review of the financial statements of The Boltons Care Home Ltd. For this reason, we have not verified the accuracy or completeness of the
accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Stiles & Company
Chartered Certified Accountants
2 Lake End Court
Taplow Road
Taplow
Maidenhead
SL6 0JQ
THE BOLTONS CARE HOME LTD
BALANCE SHEET
AS AT
30 JULY 2021
30 July 2021
- 3 -
2021
2020
as restated
Notes
£
£
£
£
Fixed assets
Intangible assets
3
18,000
24,000
Tangible assets
4
26,150
30,709
44,150
54,709
Current assets
Debtors
5
19,056
16,070
Cash at bank and in hand
137,443
606,300
156,499
622,370
Creditors: amounts falling due within one year
6
(38,394)
(346,868)
Net current assets
118,105
275,502
Total assets less current liabilities
162,255
330,211
Provisions for liabilities
(902)
(678)
Net assets
161,353
329,533
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
161,253
329,433
Total equity
161,353
329,533
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 Period ended 30 July 2021 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 Period 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.
THE BOLTONS CARE HOME LTD
BALANCE SHEET (CONTINUED)
AS AT
30 JULY 2021
30 July 2021
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 18 July 2022 and are signed on its behalf by:
Mrs P Juggurnauth
Director
Company Registration No. 11898139
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JULY 2021
- 5 -
1
Accounting policies
Company information
The Boltons Care Home Ltd is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
2-4 College Road, Reading, Berkshire, RG6 1QD.
1.1
Reporting period
[ FRS 102
3.10 An entity shall present a complete set of financial statements (including comparative
information as set out in paragraph 3.14) at least annually. When the end of an entity’s
reporting period changes and the annual financial statements are presented for a
period longer or shorter than one year, the entity shall disclose the following:
(a) that fact;
(b) the reason for using a longer or shorter period; and
(c) the fact that comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
]
1.2
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.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for
care
services provided in the normal course of business
. Where charges are billed in advance, they are recorded as deferred income, while charged billed in arrears are recorded as amounts recoverable under contract.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 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:
Leasehold improvements
25% reducing balance
Plant and equipment
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2021
1
Accounting policies
(Continued)
- 6 -
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
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities.
Trade creditors
are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2021
1
Accounting policies
(Continued)
- 7 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the
profit and loss account
, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the
company
has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2021
2020
Number
Number
Total
22
22
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2021
- 8 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2020 and 30 July 2021
30,000
Amortisation and impairment
At 1 August 2020
6,000
Amortisation charged for the Period
6,000
At 30 July 2021
12,000
Carrying amount
At 30 July 2021
18,000
At 31 July 2020
24,000
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2020
13,276
23,933
37,209
Additions
1,800
2,357
4,157
At 30 July 2021
15,076
26,290
41,366
Depreciation and impairment
At 1 August 2020
1,106
5,394
6,500
Depreciation charged in the Period
3,492
5,224
8,716
At 30 July 2021
4,598
10,618
15,216
Carrying amount
At 30 July 2021
10,478
15,672
26,150
At 31 July 2020
12,170
18,539
30,709
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
1
Other debtors
19,056
16,069
19,056
16,070
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2021
5
Debtors
(Continued)
- 9 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Corporation tax
31,497
79,248
Other creditors
6,897
267,620
38,394
346,868
7
Called up share capital
2021
2020
2021
2020
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Shares of £1 each
96
96
96
96
B Shares of £1 each
2
2
2
2
C Shares of £1 each
2
2
2
2
100
100
100
100
THE BOLTONS CARE HOME LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JULY 2021
- 10 -
9
Prior period adjustment
Within the comparatives of the financial statements, a prior year adjustment has been recognised in respect unaccrued rental liabilities and the subsequent corporation tax relief due thereon.
Reconciliation of changes in equity
31 July
2020
£
Adjustments to prior Period
Adjustment for unaccrued rental liabilities
(150,000)
Reduction in corporation tax due
28,500
Total adjustments
(121,500)
Equity as previously reported
451,033
Equity as adjusted
329,533
Analysis of the effect upon equity
Profit and loss reserves
(121,500)
(121,500)