Sutton Court Associates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04937410 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

Sutton Court Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Ramdin

Mrs B Ramdin

REGISTERED OFFICE:

69 Chesswood Road

Worthing

West Sussex

BN11 2AB

REGISTERED NUMBER:

04937410 (England and Wales)

ACCOUNTANTS:

Ghiaci Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,438,435

2,450,050

2,438,435

2,450,050

CURRENT ASSETS

Debtors

6

4,248

4,065

Cash at bank and in hand

500,523

253,185

504,771

257,250

CREDITORS

Amounts falling due within one year

7

251,121

230,181

NET CURRENT ASSETS

253,650

27,069

TOTAL ASSETS LESS CURRENT LIABILITIES

2,692,085

2,477,119

CREDITORS

Amounts falling due after more than one year

8

(1,175,883

)

(1,265,698

)

PROVISIONS FOR LIABILITIES

10

(14,510

)

(14,984

)

NET ASSETS

1,501,692

1,196,437

CAPITAL AND RESERVES

Called up share capital

11

101

101

Retained earnings

12

1,501,591

1,196,336

SHAREHOLDERS' FUNDS

1,501,692

1,196,437

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2019 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 12 August 2019 and were signed on its behalf by:

M Ramdin - Director

1.	STATUTORY INFORMATION

Sutton Court Associates Limited 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 represents invoiced fees raised in the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five 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

-

not provided

Improvements to property

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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.

Freehold property

The policy of not providing depreciation on freehold property is in accordance with the revaluation

model procedure laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland'. The policy is a departure

from the specific requirement of the Companies Act 2006 to provide depreciation on any fixed asset

which has a limited useful economic life. The departure from the Companies Act 2006 requirement

is for the overriding purpose of giving a true and fair view in accordance with Section 1A of

Financial Reporting Standard 102.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 40 (2018 - 41 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2018

and 31 May 2019

100,000

AMORTISATION

At 1 June 2018

and 31 May 2019

100,000

NET BOOK VALUE

At 31 May 2019

-

At 31 May 2018

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 June 2018

2,104,313

210,693

38,177

At 31 May 2019

2,104,313

210,693

38,177

DEPRECIATION

At 1 June 2018

-

-

34,374

Charge for year

-

-

761

At 31 May 2019

-

-

35,135

NET BOOK VALUE

At 31 May 2019

2,104,313

210,693

3,042

At 31 May 2018

2,104,313

210,693

3,803

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2018

323,816

24,603

1,370

2,702,972

Additions

3,754

-

428

4,182

At 31 May 2019

327,570

24,603

1,798

2,707,154

DEPRECIATION

At 1 June 2018

202,103

15,418

1,027

252,922

Charge for year

12,547

2,039

450

15,797

At 31 May 2019

214,650

17,457

1,477

268,719

NET BOOK VALUE

At 31 May 2019

112,920

7,146

321

2,438,435

At 31 May 2018

121,713

9,185

343

2,450,050

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Prepayments and accrued income

4,248

4,065

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Mortgage

92,750

94,263

Tax

105,439

83,023

Social security and other taxes

11,593

11,556

Sutton Court Nursing Homes Ltd

39,588

39,588

Directors' loan accounts

11

11

Accrued expenses

1,740

1,740

251,121

230,181

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

Mortgage - 1-2 years

93,233

94,564

Mortgage - 2-5 years

282,857

356,798

Mortgage

799,793

814,336

1,175,883

1,265,698

31.5.19

31.5.18

£

£

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

799,793

814,336

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Mortgage

1,268,633

1,359,961

The mortgages are secured by a first charge held on the properties concerned, being 15 and 17

Shakespeare Road, Baytree House and 10 Exmoor Crescent.

10.	PROVISIONS FOR LIABILITIES

31.5.19

31.5.18

£

£

Deferred tax

14,510

14,984

Deferred

tax

£

Balance at 1 June 2018

14,984

Accelerated capital allowances

(474

)

Balance at 31 May 2019

14,510

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

31.5.19

31.5.18

£

£

100

Ordinary

£1.00

100.00

100.00

25

Ordinary A

£0.01

0.25

0.25

25

Ordinary B

£0.01

0.25

0.25

25

Ordinary C

£0.01

0.25

0.25

25

Ordinary D

£0.01

0.25

0.25

12.

RESERVES

Retained

earnings

£

At 1 June 2018

1,196,336

Profit for the year

447,528

Dividends

(142,273

)

At 31 May 2019

1,501,591

13.	RELATED PARTY DISCLOSURES

Included in creditors as at 31 May 2019 is an amount of £39,588 (2018: £39,588) owed to Sutton

Court Nursing Homes Limited, a company controlled by the directors.

14.	CONTROLLING PARTY

The company was controlled by its directors throughout the period.