REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
ABRAHAM NURSING HOMES LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
|
|
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
ABRAHAM NURSING HOMES LIMITED |
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
|
|
|
|
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
ABRAHAM NURSING HOMES LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
BALANCE SHEET |
31 JANUARY 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks | 5 |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 9 |
|
|
Retained earnings | 10 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as
at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
BALANCE SHEET - continued |
31 JANUARY 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
were signed by: |
|
|
|
|
|
|
|
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
1. | STATUTORY INFORMATION |
|
Abraham Nursing Homes Limited is a
|
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Going concern |
|
|
The financial statements have been prepared on a going concern basis which assumes that the |
company will continue in operational existence for the foreseeable future.The directors have prepared |
forecasts for the next 12 months. The directors believe that these forecasts are based on realistic |
income assumptions and are confident that the company will continue to be able to meet its debts as |
they fall due. The directors have also considered the recoverability of the directors overdrawn loan |
account balance of £322,799 which they consider will be repayable.If the company were unable to |
continue in operational existence for the foreseeable future,adjustments would have to be made to |
reduce the Balance Sheet values of assets to their recoverable amounts and to provide for further |
liabilities that might arise,and to reclassify fixed assets and long term liabilities as current assets and |
liabilities. The directors believe that it is appropriate for the financial statements to be prepared on a |
going concern basis. |
|
The Directors continue to have a reasonable expectation that the company has adequate resources to |
continue in operation for the next twelve months and that the going concern basis of accounting |
remains appropriate.The Directors have taken prompt action to protect the company's cashflow |
including reducing costs.While the impact of the COVID-19 situation cannot be accurately predicted |
and it is not possible to assess all possible future implications for the company, based on the anakysis |
and scanarios assessed, the company believes that it has a secure financial position that will enable it |
to trade through the current disruption of the business. |
|
Turnover |
Turnover is measured at fair value of the consideration received or receivable net of VAT and |
discounts. The policies adopted for the recognition of turnover are as follows: |
|
Rendering of Services: |
|
Turnover relates to services and is recognised by reference which is usually billed monthly for |
monthly engagements. |
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Tangible fixed assets |
|
Short leasehold | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Motor vehicles | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
obsolete and slow moving items. |
|
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
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. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
|
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. |
|
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. |
|
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. |
|
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. |
|
Provisions |
Provisions are recognised when the company has an obligation at the balance sheet date as a result of |
a past event, it is probable that an outflow of economic benefit will be required in settlement and the |
amount can be reliable estimated. |
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
2. | ACCOUNTING POLICIES - continued |
|
Debtors and creditors receivable / payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are |
recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
account in other administration expenses. |
|
Impairment |
|
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at |
each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets |
cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount |
exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is |
carried at a revalued amount where the impairment loss is a revaluation decrease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | Plant and | and | Motor |
leasehold | machinery | fittings | vehicles | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 February 2019 |
|
|
|
|
|
Additions |
|
|
|
|
|
At 31 January 2020 |
|
|
|
|
|
DEPRECIATION |
At 1 February 2019 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
At 31 January 2020 |
|
|
|
|
|
NET BOOK VALUE |
At 31 January 2020 |
|
|
|
|
|
At 31 January 2019 |
|
|
|
|
|
|
5. | STOCKS |
2020 | 2019 |
£ | £ |
Stocks |
|
|
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
|
|
Section 455 tax | 83,739 | 72,973 |
Directors' current accounts | 322,799 | 289,671 |
Tax |
|
|
Prepayments |
|
|
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
|
|
Trade creditors |
|
|
Corporation tax |
|
|
Social security and other taxes |
|
|
Section 455 tax |
|
|
Deferred income |
|
|
Accrued expenses |
|
|
|
|
|
8. | LEASING AGREEMENTS |
|
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2020 | 2019 |
£ | £ |
Within one year |
|
|
Between one and five years |
|
|
|
|
|
9. | CALLED UP SHARE CAPITAL |
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2020 | 2019 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
ABRAHAM NURSING HOMES LIMITED (REGISTERED NUMBER: 04640348) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JANUARY 2020 |
|
10. | RESERVES |
Retained |
earnings |
£ |
|
At 1 February 2019 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 January 2020 |
|
|
11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
During the year ended 31 January 2020 the director maintained an interest bearing loan account with |
the company. The movements in the loan account were as follows: |
|
Mr Z A Shaikh | 2020 | 2019 |
£ | £ |
|
Balance brought forward | (289,673) | (251,421) |
Amounts introduced into the company | nil | 63,291 |
Dividends | 140,000 | nil |
Advances to the director | (173,126) | (101,542) |
|
Balance carried forward | (322,799) | (289,673) |
|
The maximum balance owed to the company during the year was (£322,799) - (2019 - (£289,673) ). |
|
12. | RELATED PARTY DISCLOSURES |
|
|
|
13. | POST BALANCE SHEET EVENTS |
|
There has been no post balance sheet events after the year end, other than COVID-19 situation which |
cannot be accurately predicted and it is not possible to assess all possible future implications for the |
company.The company has assessed the implications and has not found any significant changes to be |
reported as post balance sheet event. |
|
14. | ULTIMATE CONTROLLING PARTY |
|
The company is under the control of the director, Mr Z A Shaikh. |