Top Care Homes Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05268092 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 August 2018

for

Top Care Homes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Raja

A K A Raja

REGISTERED OFFICE:

20Lodwick

Shoeburyness

Essex

SS3 9HW

REGISTERED NUMBER:

05268092 (England and Wales)

ACCOUNTANTS:

J Raja & Company

Chartered Certified Accountants

962 Eastern Avenue

Newbury Park

Ilford

Essex

IG2 7JD

FIXED ASSETS

Intangible assets

4

80,208

92,708

Tangible assets

5

1,462,070

1,492,736

1,542,278

1,585,444

CURRENT ASSETS

Debtors

6

392,990

428,462

Cash at bank and in hand

39,415

87,277

432,405

515,739

CREDITORS

Amounts falling due within one year

7

301,649

299,519

NET CURRENT ASSETS

130,756

216,220

TOTAL ASSETS LESS CURRENT LIABILITIES

1,673,034

1,801,664

CREDITORS

Amounts falling due after more than one year

8

(875,707

)

(940,267

)

PROVISIONS FOR LIABILITIES

(19,142

)

(18,801

)

NET ASSETS

778,185

842,596

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

778,085

842,496

SHAREHOLDERS' FUNDS

778,185

842,596

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28 May 2019 and were signed on its behalf by:

M A Raja - Director

1.	STATUTORY INFORMATION

Top Care Homes Ltd is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information

page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2017 - 48 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2017

and 31 August 2018

250,000

AMORTISATION

At 1 September 2017

157,292

Amortisation for year

12,500

At 31 August 2018

169,792

NET BOOK VALUE

At 31 August 2018

80,208

At 31 August 2017

92,708

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 September 2017

1,752,625

191,920

3,271

1,947,816

Additions

-

19,513

-

19,513

At 31 August 2018

1,752,625

211,433

3,271

1,967,329

DEPRECIATION

At 1 September 2017

331,098

121,553

2,429

455,080

Charge for year

35,052

14,958

169

50,179

At 31 August 2018

366,150

136,511

2,598

505,259

NET BOOK VALUE

At 31 August 2018

1,386,475

74,922

673

1,462,070

At 31 August 2017

1,421,527

70,367

842

1,492,736

6.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

7,079

36,901

Amounts owed by group undertakings

100,000

100,000

Other debtors

1,135

785

108,214

137,686

Amounts falling due after more than one year:

Other debtors

284,776

290,776

Aggregate amounts

392,990

428,462

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

99,513

99,513

Other loans

13,504

-

Trade creditors

38,832

25,446

Tax

2,856

26,566

Social security and other taxes

12,994

9,956

Other creditors

114,810

113,745

Directors' current accounts

9,415

17,652

Accrued expenses

9,725

6,641

301,649

299,519

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans - 1-2 years

99,513

99,513

Bank loans - 2-5 years

298,540

298,540

Bank loans more 5 yr by instal

477,654

542,214

875,707

940,267

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

477,654

542,214

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

975,220

1,039,780

Bank loans are secured on the nursing home property at Station Road, Southminster and Salisbury

Road, Essex.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

100

Ordinary

£1.00

100

100

11.

RESERVES

Retained

earnings

£

At 1 September 2017

842,496

Profit for the year

5,589

Dividends

(70,000

)

At 31 August 2018

778,085