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REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31 March 2017 |
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for |
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APPLECROSS NURSING HOME LIMITED |
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REGISTERED NUMBER:
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Strategic Report, Report of the Directors and |
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Financial Statements for the Year Ended 31 March 2017 |
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for |
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APPLECROSS NURSING HOME LIMITED |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2017 |
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Page |
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Company Information | 1 |
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Strategic Report | 2 |
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Report of the Directors | 3 |
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Report of the Independent Auditors | 4 |
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Statement of Comprehensive Income | 6 |
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Balance Sheet | 7 |
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Statement of Changes in Equity | 8 |
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Cash Flow Statement | 9 |
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Notes to the Cash Flow Statement | 10 |
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Notes to the Financial Statements | 11 |
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Reconciliation of Equity | 19 |
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Reconciliation of Profit | 21 |
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APPLECROSS NURSING HOME 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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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Statutory Auditor |
29 Brandon Street |
Hamilton |
ML3 6DA |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Strategic Report |
for the Year Ended 31 March 2017 |
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The directors present their strategic report for the year ended 31 March 2017. |
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REVIEW OF BUSINESS |
In the opinion of the board of directors, the company has achieved good results of the year under review, despite the |
difficult market conditions. |
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31st March 2017 | 31st March 2016 |
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Turnover | £2,312,841 | £2,221,232 |
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(Loss)/Profit after taxation | (£442) | £185,527 |
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Gross Profit | £598,762 | £706,877 |
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Gross profit percentage | 25.89% | 31.82% |
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Turnover per productive employee | £22,675 | £27,423 |
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Shareholders' funds amount to £1,137,225 (2016 - £1,131,333). The directors are confident that the company has |
sufficient reserves to finance the anticipated levels of activity in the future. |
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Turnover for the year ended March 2018 is likely to be consistent, and the board is satisfied that, with tight control of |
margins generated, and careful monitoring of overheads, profitability will continue at satisfactory levels. |
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There have been no events since the balance sheet date that materially affect the financial position of the company. |
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PRINCIPAL RISKS AND UNCERTAINTIES |
The company operates in the nursing home industry and is therefore subject to the trading cycles that occur in that |
sector. The market is competitive although the company has a good reputation with local and regulatory authorities and |
therefore has repeat business. The board is confident that the excellent levels of service provided will ensure that the |
company continues to be competitive in its chosen market. |
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The companies main credit risk relates to debtors. The company is turnover driven and has a high have high percentages |
of turnover with key local authority customers. |
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The company has an overdraft facility with its bankers which has been well managed. The company monitors cash flow |
as part of its day to day control procedures. |
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ON BEHALF OF THE BOARD: |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Report of the Directors |
for the Year Ended 31 March 2017 |
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The directors present their report with the financial statements of the company for the year ended 31 March 2017. |
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PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of nursing home. |
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DIVIDENDS |
No dividends will be distributed for the year ended 31 March 2017. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 April 2016 to the date of this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements |
in accordance with applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The |
Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to |
have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that |
the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Sharles Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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ON BEHALF OF THE BOARD: |
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Report of the Independent Auditors to the Members of |
Applecross Nursing Home Limited |
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We have audited the financial statements of Applecross Nursing Home Limited for the year ended 31 March 2017 on |
pages six to twenty one. The financial reporting framework that has been applied in their preparation is applicable law |
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including |
Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. |
This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances and |
have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by |
the directors; and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Strategic Report and the Report of the Directors to identify material inconsistencies |
with the audited financial statements and to identify any information that is apparently materially incorrect based on, or |
materially inconsistent with, the knowledge acquired by us in the course of performing the audit. If we become aware of |
any apparent material misstatements or inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 31 March 2017 and of its loss for the year then
ended; |
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of our audit, the information given in the Strategic Report |
and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with |
the financial statements, and has been prepared in accordance with applicable legal requirements. In the light of the |
knowledge and understanding of the company and its environment, we have not identified any material misstatements in |
the Strategic Report or the Report of the Directors. |
Report of the Independent Auditors to the Members of |
Applecross Nursing Home Limited |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to |
you if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
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for and on behalf of
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Statutory Auditor |
29 Brandon Street |
Hamilton |
ML3 6DA |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Statement of Comprehensive Income |
for the Year Ended 31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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117,078 | 307,496 |
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Other operating income |
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OPERATING PROFIT | 5 |
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Interest receivable and similar income |
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117,079 | 307,578 |
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Interest payable and similar expenses | 6 |
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(LOSS)/PROFIT BEFORE TAXATION | ( |
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Tax on (loss)/profit | 7 | ( |
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(LOSS)/PROFIT FOR THE FINANCIAL
YEAR |
( |
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OTHER COMPREHENSIVE INCOME |
Deferred tax movement on revaluation |
Income tax relating to other comprehensive
income |
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OTHER COMPREHENSIVE INCOME
FOR THE YEAR, NET OF INCOME TAX |
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TOTAL COMPREHENSIVE INCOME
FOR THE YEAR |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Balance Sheet |
31 March 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 9 |
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CURRENT ASSETS |
Debtors | 10 |
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Cash in hand |
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CREDITORS |
Amounts falling due within one year | 11 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
12 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 15 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 16 |
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Revaluation reserve | 17 |
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Retained earnings | 17 |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
by: |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Statement of Changes in Equity |
for the Year Ended 31 March 2017 |
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Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1 April 2015 |
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Changes in equity |
Issue of share capital |
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- | - |
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Dividends | - | ( |
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Total comprehensive income | - |
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( |
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Balance at 31 March 2016 |
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Changes in equity |
Total comprehensive income | - |
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( |
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Balance at 31 March 2017 |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Cash Flow Statement |
for the Year Ended 31 March 2017 |
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2017 | 2016 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
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Interest paid | ( |
) | ( |
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Tax paid | ( |
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Net cash from operating activities |
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Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
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Interest received |
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Net cash from investing activities | ( |
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Cash flows from financing activities |
New loans in year |
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Amount introduced by directors | 246,646 | 195,600 |
Amount withdrawn by directors | (213,719 | ) | (177,648 | ) |
Share issue |
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Equity dividends paid |
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( |
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Net cash from financing activities |
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( |
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Decrease in cash and cash equivalents | ( |
) | ( |
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Cash and cash equivalents at beginning of
year |
2 |
(142,562 |
) |
48,617 |
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Cash and cash equivalents at end of year | 2 | ( |
) | ( |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Cash Flow Statement |
for the Year Ended 31 March 2017 |
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1. |
RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS |
2017 | 2016 |
£ | £ |
(Loss)/profit before taxation | ( |
) |
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Depreciation charges |
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Finance costs | 120,249 | 107,529 |
Finance income | (1 | ) | (1 | ) |
203,569 | 403,486 |
Increase in trade and other debtors | ( |
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Increase/(decrease) in trade and other creditors |
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( |
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Cash generated from operations |
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2. | CASH AND CASH EQUIVALENTS |
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The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of |
these Balance Sheet amounts: |
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Year ended 31 March 2017 |
31.3.17 | 1.4.16 |
£ | £ |
Cash and cash equivalents | 9,233 | 14,647 |
Bank overdrafts | ( |
) | ( |
) |
(151,127 | ) | (142,562 | ) |
Year ended 31 March 2016 |
31.3.16 | 1.4.15 |
£ | £ |
Cash and cash equivalents | 14,647 | 48,617 |
Bank overdrafts | ( |
) |
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(142,562 | ) | 48,617 |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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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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Applecross Nursing Home Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company meets its day to day working capital requirements through an overdraft facility which is repayable |
on demand, and from directors loans. The directors have prepared projected cash flow information for the |
current financial year. On the basis of this cash flow information and discussions with the above parties, the |
directors have formed a judgement at the time of approving the financial statements that they will continue to |
support the company. On this basis, the directors consider it appropriate to prepare the financial statements on |
the going concern basis. The financial statements do not include any adjustments that would result from |
withdrawal of support by the above mentioned parties. |
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Turnover & revenue recognition |
Turnover is derived from nursing and care services supplied by the company. |
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Turnover is measured at the fair value of nursing and care services supplied, net of discounts and is recognised |
at the point that the company obtains the right to consideration. |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine |
whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the |
recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is |
not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of |
the cash-generating unit to which the asset belongs. |
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Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets |
below this threshold is charged directly to the income account in the period it is incurred. |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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3. | ACCOUNTING POLICIES - continued |
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Basic financial instruments |
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method, less impairment losses for bad and doubtful debts except where the effect of |
discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad |
and doubtful debts. |
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Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the |
effective interest method unless the effect of discounting would be immaterial, in which case they are stated at |
cost. |
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Cash and cash equivalents |
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term |
highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of |
financial position, bank overdrafts are shown within borrowings or current liabilities. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive |
Income, 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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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension |
scheme are charged to profit or loss in the period to which they relate. |
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4. | EMPLOYEES AND DIRECTORS |
2017 | 2016 |
£ | £ |
Wages and salaries |
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Social security costs |
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Other pension costs |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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4. | EMPLOYEES AND DIRECTORS - continued |
The average monthly number of employees during the year was as follows: |
2017 | 2016 |
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Management | 3 | 3 |
Nursing and Care Staff | 89 | 71 |
Kitchen & Laundry | 10 | 8 |
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2017 | 2016 |
£ | £ |
Directors' remuneration |
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5. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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2017 | 2016 |
£ | £ |
Hire of plant and machinery |
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Other operating leases |
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Depreciation - owned assets |
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Auditors' remuneration |
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6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
2017 | 2016 |
£ | £ |
Bank interest |
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Bank loan interest |
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Late payment interest |
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7. | TAXATION |
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Analysis of the tax (credit)/charge |
The tax (credit)/charge on the loss for the year was as follows: |
2017 | 2016 |
£ | £ |
Current tax: |
Under provision prior years | (2,944 | ) | - |
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Deferred tax |
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Tax on (loss)/profit | ( |
) |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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7. | TAXATION - continued |
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Tax effects relating to effects of other comprehensive income |
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2017 |
Gross | Tax | Net |
£ | £ | £ |
Deferred tax movement on revaluation |
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6,334 | 6,334 |
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2016 |
Gross | Tax | Net |
£ | £ | £ |
Deferred tax movement on revaluation |
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6,334 | 6,334 |
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8. | DIVIDENDS |
2017 | 2016 |
£ | £ |
Ordinary shares of £1 each |
Interim |
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B share of £1 |
Interim |
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9. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST OR VALUATION |
At 1 April 2016 |
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Additions |
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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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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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9. | TANGIBLE FIXED ASSETS - continued |
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Cost or valuation at 31 March 2017 is represented by: |
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Fixtures |
Freehold | Plant and | and | Motor |
property | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
Valuation in 2011 | 1,350,648 | - | - | - | 1,350,648 |
Cost | 4,906,166 | 34,690 | 295,721 | 42,414 | 5,278,991 |
6,256,814 | 34,690 | 295,721 | 42,414 | 6,629,639 |
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If freehold land & buildings had not been revalued they would have been included at the following historical |
cost: |
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2017 | 2016 |
£ | £ |
Cost | 4,906,166 | 3,049,352 |
Aggregate depreciation | 254,717 | 162,927 |
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Value of land in freehold land and buildings | 1,000,000 | 1,000,000 |
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Freehold land & buildings were valued on an open market basis on 31 March 2017 by the directors . |
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If Freehold Property was sold this would result in an additional corporation tax liability of approximately |
£215,000. |
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10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments and accrued income |
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11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts (see note 13) |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Other creditors |
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Directors' current accounts | 50,879 | 17,952 |
Accrued expenses |
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APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
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12. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2017 | 2016 |
£ | £ |
Bank loans (see note 13) |
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13. | LOANS |
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An analysis of the maturity of loans is given below: |
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2017 | 2016 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
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Bank loans |
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Amounts falling due between two and five years: |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 years by ins talments | 3,975,240 | 1,957,258 |
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14. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank overdrafts |
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Bank loans |
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Bank loans and overdraft are secured by a bond and floating charge together with standard security over the |
Freehold Property. |
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15. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Other timing differences | 284,923 | 291,257 |
Accelerated capital allowances | 175,366 | 143,057 |
Unutilised trading losses | (32,093 | ) | - |
428,196 | 434,314 |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
15. | PROVISIONS FOR LIABILITIES - continued |
|
Deferred |
tax |
£ |
Balance at 1 April 2016 |
|
Provided during year |
|
Unutilised tax losses | (32,093 | ) |
Balance at 31 March 2017 |
|
|
16. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
2 | Ordinary | £1 | 2 | 2 |
1 | A | £1 | 1 | 1 |
1 | B | £1 | 1 | 1 |
1 | C | £1 | 1 | 1 |
5 | 5 |
|
17. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
|
At 1 April 2016 |
|
|
1,131,328 |
Deficit for the year | ( |
) | ( |
) |
Revaluation reserve release | 31,672 | (31,672 | ) | - |
Deferred tax on revaluation
reserve
release |
- |
6,334 |
6,334 |
|
At 31 March 2017 |
|
|
1,137,220 |
|
18. | CAPITAL COMMITMENTS |
2017 | 2016 |
£ | £ |
Contracted but not provided for in the |
financial statements |
|
|
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2017 |
|
19. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 31 March 2017 and |
31 March 2016: |
|
2017 | 2016 |
£ | £ |
|
Balance outstanding at start of year | ( |
) |
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
|
Reconciliation of Equity |
1 April 2015 |
(Date of Transition to FRS 102) |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
FIXED ASSETS |
Tangible assets | 4,151,284 |
|
4,151,284 |
CURRENT ASSETS |
Debtors | 314,205 |
|
314,205 |
Cash at bank and in hand | 48,617 |
|
48,617 |
362,822 |
|
362,822 |
CREDITORS |
Amounts falling due within one year | (328,373 | ) |
|
(328,373 | ) |
NET CURRENT ASSETS | 34,449 |
|
34,449 |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
4,185,733 |
|
4,185,733 |
|
CREDITORS |
Amounts falling due after more than one
year |
(2,624,536 |
) |
|
(2,624,536 |
) |
|
PROVISIONS FOR LIABILITIES | (426,126 | ) |
|
(426,126 | ) |
NET ASSETS | 1,135,071 |
|
1,135,071 |
CAPITAL AND RESERVES |
Called up share capital | 4 |
|
4 |
Revaluation reserve | 1,133,360 |
|
1,133,360 |
Retained earnings | 1,707 |
|
1,707 |
SHAREHOLDERS' FUNDS | 1,135,071 |
|
1,135,071 |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
|
Reconciliation of Equity - continued |
31 March 2016 |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
FIXED ASSETS |
Tangible assets | 4,151,284 |
|
4,288,885 |
CURRENT ASSETS |
Debtors | 314,205 |
|
422,204 |
Cash at bank and in hand | 48,617 | ( |
) | 14,647 |
362,822 |
|
436,851 |
CREDITORS |
Amounts falling due within one year | (328,373 | ) | ( |
) | (487,119 | ) |
NET CURRENT ASSETS/(LIABILITIES) | 34,449 | ( |
) | (50,268 | ) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
4,185,733 |
|
4,238,617 |
|
CREDITORS |
Amounts falling due after more than one
year |
(2,624,536 |
) |
( |
) |
(2,672,970 |
) |
|
PROVISIONS FOR LIABILITIES | (426,126 | ) | ( |
) | (434,314 | ) |
NET ASSETS | 1,135,071 | ( |
) | 1,131,333 |
CAPITAL AND RESERVES |
Called up share capital | 4 |
|
5 |
Revaluation reserve | 1,133,360 | ( |
) | 1,108,022 |
Retained earnings | 1,707 |
|
23,306 |
SHAREHOLDERS' FUNDS | 1,135,071 | ( |
) | 1,131,333 |
APPLECROSS NURSING HOME LIMITED (REGISTERED NUMBER: SC177933) |
|
Reconciliation of Profit |
for the Year Ended 31 March 2016 |
|
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
TURNOVER | 2,126,101 |
|
2,221,232 |
|
Cost of sales | (1,386,194 | ) | ( |
) | (1,514,355 | ) |
GROSS PROFIT | 739,907 | ( |
) | 706,877 |
Administrative expenses | (417,336 | ) |
|
(399,381 | ) |
Other operating income | - |
|
81 |
|
OPERATING PROFIT | 322,571 | ( |
) | 307,577 |
Interest receivable and similar income | 5 | ( |
) | 1 |
Interest payable and similar expenses | (119,572 | ) |
|
(107,529 | ) |
PROFIT BEFORE TAXATION | 203,004 | ( |
) | 200,049 |
Tax on profit | (53,514 | ) |
|
(14,522 | ) |
PROFIT FOR THE FINANCIAL YEAR | 149,490 |
|
185,527 |