Company Registration No. SC440634 (Scotland)
Renaissance Care (No 5) Limited
Annual Report and Financial Statements
For the Year Ended 30 November 2019
Renaissance Care (No 5) Limited
Company Information
Directors
Mr W M McLeish
Mr R D Kilgour
Mrs A Neilson
Mrs L Barnett
Company number
SC440634
Registered office
Suite 2, Ground Floor, Stuart House
Eskmills Park
Station Road
Musselburgh
EH21 7PB
Auditor
Thomson Cooper
3 Castle Court
Carnegie Campus
Dunfermline
Fife
KY11 8PB
Bankers
Barclays Bank Plc
1 Churchill Place
Canary Wharf
London
E14 5HP
Solicitors
MacRoberts LLP
Excel House
30 Semple Street
Edinburgh
EH3 8BL
Renaissance Care (No 5) Limited
Contents
Page
Directors' report
1 - 2
Independent auditor's report
3 - 4
Profit and loss account
5
Balance sheet
6
Statement of changes in equity
7
Notes to the financial statements
8 - 15
Renaissance Care (No 5) Limited
Directors' Report
For the Year Ended 30 November 2019
- 1 -
The directors present their annual report and financial statements for the year ended 30 November 2019.
Principal activities
The principal activity of the company was that of the operation of care homes for the elderly.
The company was dormant in the prior year and commenced trading on 20 December 2018.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr W M McLeish
Mr R D Kilgour
Mrs A Neilson
Mrs L Barnett
Auditor
In accordance with the company's articles, a resolution proposing that Thomson Cooper be reappointed as auditor of the company will be put at a General Meeting.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
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). 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:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
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.
Renaissance Care (No 5) Limited
Directors' Report (CONTINUED)
For the Year Ended 30 November 2019
- 2 -
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr W M McLeish
Director
10 August 2020
Renaissance Care (No 5) Limited
Independent Auditor's Report
To The Members of Renaissance Care (No 5) Limited
- 3 -
Opinion
We have audited the financial statements of Renaissance Care (No 5) Limited (the 'company') for the year ended 30 November 2019 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity and notes to the financial statements, including a summary of significant accounting policies.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the company's affairs as at 30 November 2019 and of its profit for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the
Auditor's
responsibilities for the audit of the financial statements
section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard
, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
-
the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
-
the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue
.
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the
financial statements
does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters 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 directors' r
eport for the financial year for which the financial statements are prepared is consistent with the financial statements
; and
-
the directors' report has been prepared in accordance with applicable legal requirements.
Renaissance Care (No 5) Limited
Independent Auditor's Report (CONTINUED)
To The Members of Renaissance Care (No 5) Limited
- 4 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie
d
material misstatements in the directors'
r
eport
.
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:
-
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; or
-
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors'
r
esponsibilities
s
tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the company
'
s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council’s website at: http://www.frc.org.uk/auditorsresponsibilities
.
This description forms part of our auditor’s report.
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 an auditor's report 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.
Sharon Collins (Senior Statutory Auditor)
for and on behalf of Thomson Cooper
Dunfermline
27 August 2020
Renaissance Care (No 5) Limited
Profit and Loss Account
For the Year Ended 30 November 2019
- 5 -
2019
2018
Notes
£
£
Turnover
1,066,072
-
Cost of sales
(765,676)
-
Gross profit
300,396
-
Administrative expenses
(245,941)
-
Operating profit
54,455
-
Interest payable and similar expenses
(74)
-
Profit before taxation
54,381
-
Tax on profit
3
(14,611)
-
Profit for the financial year
39,770
-
Other comprehensive income
Revaluation of tangible fixed assets
107,304
-
Total comprehensive income for the year
147,074
-
Renaissance Care (No 5) Limited
Balance Sheet
As at 30 November 2019
- 6 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,526,299
-
Current assets
Stocks
1,405
-
Debtors
5
59,233
100
Cash at bank and in hand
1,669
-
62,307
100
Creditors: amounts falling due within one year
6
(1,473,615)
-
Net current (liabilities)/assets
(1,411,308)
100
Total assets less current liabilities
114,991
100
Provisions for liabilities
7
(2,817)
-
Net assets
112,174
100
Capital and reserves
Called up share capital
9
100
100
Revaluation reserve
10
107,304
-
Profit and loss reserves
4,770
-
Total equity
112,174
100
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 August 2020 and are signed on its behalf by:
Mr W M McLeish
Director
Company Registration No. SC440634
Renaissance Care (No 5) Limited
Statement of Changes in Equity
For the Year Ended 30 November 2019
- 7 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 December 2017
100
-
-
100
Year ended 30 November 2018:
Profit and total comprehensive income for the year
-
-
-
-
Balance at 30 November 2018
100
-
-
100
Year ended 30 November 2019:
Profit for the year
-
-
39,770
39,770
Other comprehensive income:
Revaluation of tangible fixed assets
-
107,304
-
107,304
Total comprehensive income for the year
-
107,304
39,770
147,074
Dividends
-
-
(35,000)
(35,000)
Balance at 30 November 2019
100
107,304
4,770
112,174
Renaissance Care (No 5) Limited
Notes to the Financial Statements
For the Year Ended 30 November 2019
- 8 -
1
Accounting policies
Company information
Renaissance Care (No 5) Limited is a
private
company
limited by shares
incorporated in Scotland.
The registered office is
Suite 2, Ground Floor, Stuart House, Eskmills Park, Station Road, Musselburgh, EH21 7PB.
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, modified to include the revaluation of freehold property at fair value. The principal accounting policies adopted are set out below.
This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares
publicly available consolidated financial statements
, including this company,
which are
intended to give a true and fair view of the assets, liabilities,
financial position and profit or loss
of the group
.
T
he company has
therefore
taken advantage of
e
xemptions from the following disclosure requirements:
-
Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;
-
Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues’
:
Carrying amounts, interest income/expense and net gains/losses for each category of financial instrument;
basis
of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income
;
-
Section 33 ‘Related Party Disclosures’
:
Compensation for key management personnel
.
The financial statements of the company are consolidated in the financial statements of Dow Investments PLC. These consolidated financial statements are available from its registered office, 16 Charlotte Square, Edinburgh, Midlothian, EH2 4DF.
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
1
Accounting policies
(Continued)
- 9 -
1.2
Going concern
At the time of approving the financial statements, the directors consider that the company has adequate resources to continue in operational existence for a period of not less than 12 months. The company operates a care home and the directors are aware of the potential impact on the group of the coronavirus pandemic. The group directors have continued to operate the care homes and are ensuring that all relevant operational guidelines are being followed. Coronavirus deaths within the group care homes has been closely monitored and reported upon and currently there are no residents across all of the group care homes who have tested positive for coronavirus.
true
The directors have reviewed their budgets and cashflow as part of the group based on a reduced level of occupancy and increased staff and medical supply costs and are satisfied that the company and the overall group has sufficient cash reserves and net income to cover any shortfall of income and increase in costs over the next twelve months. The working capital requirements of the group are primarily met by existing cash reserves within the group which are projected to be sufficient for a further period of 12 months. The directors consider that there are sufficient reserves to ensure short term liquidity and longer term financial viability of the company within the group. As such the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
1.4
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:
Heritable Property
Nil
Fixtures & Fittings
20% reducing balance
Computer Equipment
25% straight line
Motor Vehicles
25% straight line
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
.
1.5
Impairment of fixed assets
At each reporting
period
end date, the
company
reviews the carrying amounts of its tangible
assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company
estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
1
Accounting policies
(Continued)
- 10 -
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit)
in
prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
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.
Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
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.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position 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.
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
1
Accounting policies
(Continued)
- 11 -
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, bank loans, loans from
fellow group companies and preference shares that are classified as debt, 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.
1.9
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.
1.10
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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 income statement, 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.
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
1
Accounting policies
(Continued)
- 12 -
1.11
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.
1.12
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.13
Leases
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
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
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2019
2018
Number
Number
Total
37
-
3
Taxation
2019
2018
£
£
Current tax
UK corporation tax on profits for the current period
11,794
-
Deferred tax
Origination and reversal of timing differences
2,817
-
Total tax charge
14,611
-
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
- 13 -
4
Tangible fixed assets
Heritable Property
Fixtures & Fittings
Computer Equipment
Motor Vehicles
Total
£
£
£
£
£
Cost
At 1 December 2018
-
-
-
-
-
Additions
-
21,700
5,284
-
26,984
Business combinations
1,322,696
101,803
18
14,025
1,438,542
Disposals
-
(234,446)
-
-
(234,446)
Revaluation
107,304
-
-
-
107,304
At 30 November 2019
1,430,000
(110,943)
5,302
14,025
1,338,384
Depreciation and impairment
At 1 December 2018
-
-
-
-
-
Depreciation charged in the year
-
19,721
559
7,650
27,930
Eliminated in respect of disposals
-
(215,845)
-
-
(215,845)
At 30 November 2019
-
(196,124)
559
7,650
(187,915)
Carrying amount
At 30 November 2019
1,430,000
85,181
4,743
6,375
1,526,299
At 30 November 2018
-
-
-
-
-
5
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
7,779
-
Amounts owed by group undertakings
43,428
-
Other debtors
8,026
100
59,233
100
6
Creditors: amounts falling due within one year
2019
2018
£
£
Amounts owed to group undertakings
1,444,916
-
Corporation tax
11,794
-
Other creditors
16,905
-
1,473,615
-
There is a standard security in favour of Barclays Bank PLC in relation to Milford Nursing Home, Edinburgh EH15 1SG and a floating charge which covers all and whole the tenant's interest in the subjects known.
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
- 14 -
7
Provisions for liabilities
2019
2018
£
£
Deferred tax liabilities
8
2,817
-
8
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2019
2018
Balances:
£
£
Accelerated capital allowances
2,817
-
2019
Movements in the year:
£
Liability at 1 December 2018
-
Charge to profit or loss
2,817
Liability at 30 November 2019
2,817
9
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
10
Revaluation reserve
2019
2018
£
£
At the beginning of the year
-
-
Revaluation surplus arising in the year
107,304
-
At the end of the year
107,304
-
Renaissance Care (No 5) Limited
Notes to the Financial Statements (CONTINUED)
For the Year Ended 30 November 2019
- 15 -
11
Related party transactions
The company has taken advantage of the exemption conferred by Financial Reporting Standard 102 Section 1A not to disclose inter-group transactions and balances on the grounds that 100% of the voting rights of the company are controlled within the group and that consolidated accounts are prepared by the ultimate holding company Dow Investments PLC and are publicly available at the address detailed below with the exception of the transactions Dow Investments PLC which has a 85% majority interest.
12
Parent company
The immediate parent company is Renaissance Care (Scotland) Limited, a company incorporated in Scotland which held 100% of the ordinary share capital of the company in the current financial period. Previously the shares were 100% owned by Renaissance Care (UK) Ltd but were transferred on 20 December 2018.
The directors consider the ultimate controlling party to be Dow Investments PLC, a company incorporated in Scotland, as a result of its controlling interest in Renaissance Care (Scotland) Limited. Dow Investments PLC is controlled by Mr R D Kilgour, director.
The accounts of Dow Investments PLC are available to the public via Companies House. The registered office of this company is 16 Charlotte Square, Edinburgh, Midlothian, EH2 4DF. The company heads its largest group and smallest group in which the results of this company are included.
2019-11-30
2018-12-01
false
CCH Software
CCH Accounts Production 2020.200
Mr W M McLeish
Mr R D Kilgour
Mrs A Neilson
Mrs L Barnett
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2019-11-30
SC440634
bus:RegisteredOffice
2018-12-01
2019-11-30
SC440634
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2018-12-01
2019-11-30
SC440634
2019-11-30
SC440634
core:RetainedEarningsAccumulatedLosses
2018-12-01
2019-11-30
SC440634
core:RevaluationReserve
2018-12-01
2019-11-30
SC440634
core:LandBuildings
core:OwnedOrFreeholdAssets
2019-11-30
SC440634
core:FurnitureFittings
2019-11-30
SC440634
core:ComputerEquipment
2019-11-30
SC440634
core:MotorVehicles
2019-11-30
SC440634
2018-11-30
SC440634
core:CurrentFinancialInstruments
core:WithinOneYear
2019-11-30
SC440634
core:CurrentFinancialInstruments
core:WithinOneYear
2018-11-30
SC440634
core:CurrentFinancialInstruments
2019-11-30
SC440634
core:ShareCapital
2019-11-30
SC440634
core:ShareCapital
2018-11-30
SC440634
core:RevaluationReserve
2019-11-30
SC440634
core:RetainedEarningsAccumulatedLosses
2019-11-30
SC440634
core:ShareCapital
2017-11-30
SC440634
2017-11-30
SC440634
core:LandBuildings
core:OwnedOrFreeholdAssets
2018-12-01
2019-11-30
SC440634
core:FurnitureFittings
2018-12-01
2019-11-30
SC440634
core:ComputerEquipment
2018-12-01
2019-11-30
SC440634
core:MotorVehicles
2018-12-01
2019-11-30
SC440634
core:UKTax
2018-12-01
2019-11-30
SC440634
core:WithinOneYear
2019-11-30
SC440634
core:WithinOneYear
2018-11-30
SC440634
bus:PrivateLimitedCompanyLtd
2018-12-01
2019-11-30
SC440634
bus:FRS102
2018-12-01
2019-11-30
SC440634
bus:Audited
2018-12-01
2019-11-30
SC440634
bus:FullAccounts
2018-12-01
2019-11-30
xbrli:pure
xbrli:shares
iso4217:GBP