Rushcliffe I H (Aberavon) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05838291 (England and Wales)

Financial Statements

for the Year Ended 30 November 2018

for

Rushcliffe Independent Hospitals

(Aberavon) Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

S Rai

SECRETARIES:

D Kaplan

Mrs K A Noon

Ms S L Wilkinson

REGISTERED OFFICE:

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

BUSINESS ADDRESS:

Epinal Way Care Centre

Hospital Way

Loughborough

Leicestershire

LE11 3GD

REGISTERED NUMBER:

05838291 (England and Wales)

AUDITORS:

HSKS Greenhalgh

Chartered Accountants &

Statutory Auditor

3rd Floor

Butt Dyke House

33 Park Row

Nottingham

NG1 6EE

FIXED ASSETS

Tangible assets

3

2,878,539

2,607,250

CURRENT ASSETS

Stocks

163

163

Debtors

78,982

107,749

Cash at bank and in hand

288,214

220,168

367,359

328,080

CREDITORS

Amounts falling due within one year

5,260,293

4,974,617

NET CURRENT LIABILITIES

(4,892,934

)

(4,646,537

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,014,395

)

(2,039,287

)

PROVISIONS FOR LIABILITIES

126,276

128,759

NET LIABILITIES

(2,140,671

)

(2,168,046

)

CAPITAL AND RESERVES

Called up share capital

5

2

2

Revaluation reserve

6

672,140

684,805

Retained earnings

6

(2,812,813

)

(2,852,853

)

SHAREHOLDERS' FUNDS

(2,140,671

)

(2,168,046

)

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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 November 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 29 August 2019 and were signed by:

S Rai - Director

1.	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 residential care services provided in the year, recognised according to the period

of care provided.

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

Motor vehicles

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

The company has taken advantage of the FRS 102 transitional rules to treat fair value of property at

transition date as deemed cost. However the company does not have a policy of revaluation and all

other assets are recognised on a cost basis.

Depreciation is not charged on freehold property until the buildings are brought into economic use.

Depreciation is charged on leasehold property in line with the lease term of 125 years.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Going concern

The company has made a profit on ordinary activities after taxation of £24,474 (2017 loss: £126,758)

and the balance sheet details net current liabilities of £4,892,934 (2017: £4,646,537) and net liabilities

of £2,140,671 (2017: £2,168,046).

Financial forecasts show that the company's overdraft will operate within the group omnibus facility

provided by the company's (and group's) bankers and the parent company has confirmed that it will

continue to provide financial support.

It is on this basis that the director considers that the company will have adequate cash resources to

fund its trading and other obligations during the course of the twelve months from the date the financial

statements are approved. Consequently the financial statements have been prepared on the going

concern basis.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 43 (2017 - 40 ) .

3.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 December 2017

2,917,576

Additions

334,889

At 30 November 2018

3,252,465

DEPRECIATION

At 1 December 2017

310,326

Charge for year

63,600

At 30 November 2018

373,926

NET BOOK VALUE

At 30 November 2018

2,878,539

At 30 November 2017

2,607,250

Tangible fixed assets with a carrying value of £2,834,624 (2017: £2,570,804) are pledged as security

for the group's borrowing facilities.

Included in cost of freehold property is property of £320,027 (2017: £nil) which is not depreciated as

the property has not yet been brought into use.

4.	SECURED DEBTS

Lloyds Bank plc holds a debenture over the assets of the company. In addition Lloyds Bank plc hold in

their favour an omnibus guarantee and set-off agreement for the company and for other companies

within the group. Lloyds Bank plc also hold a 1st Legal Charge over the Commercial Leasehold

Property.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

as restated

£

£

2

Ordinary shares

£1

2

2

6.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 December 2017

(2,949,487

)

781,439

(2,168,048

)

Prior year adjustment

96,634

(96,634

)

-

(2,852,853

)

684,805

(2,168,048

)

Profit for the year

24,474

-

24,474

Depreciation transfer on revaluation

15,566

(15,566

)

-

Deferred tax movement re property revaluations

-

2,901

2,901

At 30 November 2018

(2,812,813

)

672,140

(2,140,673

)

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Philip Handley FCA (Senior Statutory Auditor)

for and on behalf of HSKS Greenhalgh

8.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

9.	CONTROL RELATIONSHIP