Cumbria Nursing Services Limited
Cumbria Nursing Services Limited
Registered number: 02283239
Unaudited Financial Statements
For The Year Ended 30 September 2019
Morris Lane
Cumbria Nursing Services Limited
Unaudited Financial Statements
For The Year Ended 30 September 2019
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—7 |
Cumbria Nursing Services Limited
Balance Sheet
As at
30 September 2019
Balance Sheet
Registered number:
02283239
For the year ending 30 September 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 98,549 | 29,481 | |||
Page 1
Cumbria Nursing Services Limited
Balance Sheet (continued)
As at
30 September 2019
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 7 form part of these financial statements.
Page 2
Cumbria Nursing Services Limited
Notes to the Financial Statements
For The Year Ended 30 September 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Revenue 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.
Revenue from the supply of care services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where payments are received from customers in advance of services provided the amounts are recorded as deferred income and included as part of payables due within one year.
Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.
1.3.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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| Plant & Machinery |
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| Fixtures & Fittings |
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Freehold land is not depreciated.
1.4.
Stocks and Work in Progress
Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell.
Cost is calculated using the weighted average method.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of
inventories 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.
Page 3
Cumbria Nursing Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2019
1.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
1.6.
Pensions
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.7.
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.
Page 4
Cumbria Nursing Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2019
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
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| Health care assistants and administration |
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4.
Tangible Assets
| Land & Property | ||||
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| Freehold | Plant & Machinery | Fixtures & Fittings | Total | |
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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Freehold land is not depreciated.
5.
Stocks
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| £ | £ | ||
| Stock - finished goods |
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Cumbria Nursing Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2019
6.
Debtors
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| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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7.
Creditors: Amounts Falling Due Within One Year
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| Other creditors |
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| Accruals and deferred income |
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| Amounts owed to parent undertaking |
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8.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
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| Deferred tax |
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Page 6
Cumbria Nursing Services Limited
Notes to the Financial Statements (continued)
For The Year Ended 30 September 2019
10.
Related Party Transactions
As at 30 September 2019, the company owed £241,888 (2018: £296,258) to Lakeland Care Group Limited, who owns the entire share capital of the company and is a company of which the directors Mr. and Mrs. Root are directors and shareholders. The loan is on an interest free basis and repayable on demand.
During the year management charges totalling £81,500 (2018: £81,500) were paid to Lakeland Care Group Limited, the company's parent.
The company is controlled by Lakeland Care Group Limited by virtue of its 100% shareholding of the issued ordinary share capital Lakeland Care Group Limited is controlled by Mr. and Mrs. Root.
Further related party transactions are given in note 12.
11.
Contingent Liabilities
During the period ended 30 September 2008 the company entered into a joint financing arrangement with Lakeland Care Group Limited. A legal charge is held over the share capital and freehold property in respect of joint bank borrowings held in the name of Lakeland Care Group Limited totalling £1,065,522 (2018: £1,117,116).
A further debenture was registered in May 2015 for a fixed and floating charge over the assets of the company, its parent and Lakeland Care Services Limited, an associated company, as a result of the loan held in the parent as above. Additional cross guarantees amongst the three companies were entered into to further secure the loan.
12.
General Information
Cumbria Nursing Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02283239 . The registered office is 31/33 Commercial Road, Poole, Dorset, BH14 0HU.
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