Chalfont Health Care Limited 30/04/2019 iXBRL

Chalfont Health Care Limited 30/04/2019 iXBRL

CHALFONT HEALTH CARE LIMITED - Company Information

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Company registration number: 04629913
Chalfont Health Care Limited
Unaudited filleted financial statements
30 April 2019
Chalfont Health Care Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Chalfont Health Care Limited
Directors and other information
Directors Mr Parveen Kumar Sabharwal
Mrs Nishi Sabharwal
Company number 04629913
Registered office Doshi Accountants Limited
6th Floor, AMP House
Dingwall Road
Croydon
CR0 2LX
Accountants Doshi & Co. Accountants
6th Floor, AMP House
Dingwall Road
Croydon
CR0 2LX
Chalfont Health Care Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of Chalfont Health Care Limited
Year ended 30 April 2019
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 April 2019 which comprise the statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Doshi & Co. Accountants
6th Floor, AMP House
Dingwall Road
Croydon
CR0 2LX
11 December 2019
Chalfont Health Care Limited
Statement of financial position
30 April 2019
2019 2018
Note £ £ £ £
Fixed assets
Intangible assets 5 - 30,000
Tangible assets 6 2,389 2,811
_______ _______
2,389 32,811
Current assets
Stocks 59,504 67,899
Debtors 7 544,563 530,992
Cash at bank and in hand 1,284 19,975
_______ _______
605,351 618,866
Creditors: amounts falling due
within one year 8 ( 238,295) ( 311,639)
_______ _______
Net current assets 367,056 307,227
_______ _______
Total assets less current liabilities 369,445 340,038
Creditors: amounts falling due
after more than one year 9 ( 120,815) ( 164,848)
Provisions for liabilities ( 79) ( 76)
_______ _______
Net assets 248,551 175,114
_______ _______
Capital and reserves
Called up share capital 150 150
Profit and loss account 248,401 174,964
_______ _______
Shareholders funds 248,551 175,114
_______ _______
For the year ending 30 April 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 11 December 2019 , and are signed on behalf of the board by:
Mr Parveen Kumar Sabharwal
Director
Company registration number: 04629913
Chalfont Health Care Limited
Notes to the financial statements
Year ended 30 April 2019
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Doshi Accountants Limited, 6th Floor, AMP House, Dingwall Road, Croydon, CR0 2LX.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures, fittings and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2018: 12 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1 May 2018 and 30 April 2019 400,000 400,000
_______ _______
Amortisation
At 1 May 2018 370,000 370,000
Charge for the year 30,000 30,000
_______ _______
At 30 April 2019 400,000 400,000
_______ _______
Carrying amount
At 30 April 2019 - -
_______ _______
At 30 April 2018 30,000 30,000
_______ _______
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 May 2018 45,131 45,131
Additions 375 375
_______ _______
At 30 April 2019 45,506 45,506
_______ _______
Depreciation
At 1 May 2018 42,320 42,320
Charge for the year 797 797
_______ _______
At 30 April 2019 43,117 43,117
_______ _______
Carrying amount
At 30 April 2019 2,389 2,389
_______ _______
At 30 April 2018 2,811 2,811
_______ _______
7. Debtors
2019 2018
£ £
Trade debtors 64,742 68,277
Amounts owed by group undertakings and undertakings in which the company has a participating interest 437,641 411,203
Other debtors 42,180 51,512
_______ _______
544,563 530,992
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Bank loans and overdrafts 995 -
Trade creditors 143,079 209,544
Corporation tax 35,264 16,209
Social security and other taxes 49 758
Other creditors 58,908 85,128
_______ _______
238,295 311,639
_______ _______
9. Creditors: amounts falling due after more than one year
2019 2018
£ £
Bank loans and overdrafts 48,485 164,848
Other creditors 72,330 -
_______ _______
120,815 164,848
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2019
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Parveen Kumar Sabharwal ( 16,747) 16,747 -
_______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Parveen Kumar Sabharwal ( 495) ( 16,252) ( 16,747)
_______ _______ _______
11. Related party transactions
Included in debtors is £120,550 (2018 : £94,112) due from Bishophouse Limited, the parent company. Bishophouse Limited charged the company £60,000 (2018 : £60,000) for the provision of management services during the year.Included in debtors is £317,091 (2018 : £317,091) due from Eddy and Amber Limited.
12. Ultimate parent company
Bishophouse Limited is regarded by the directors as being the company's ultimate parent company. The parent company is Bishophouse Limited.