Cholwell House Nursing Home Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04747378 (England and Wales)

Cholwell House Nursing Home Limited

Abridged Unaudited Financial Statements for the Year Ended 31 May 2020

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T B Thompson

Mrs E M Thompson

Mrs J Tooze

Mrs M Knighton

Miss N Thompson

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04747378 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

The Royal Bank of Scotland plc

Derby Cornmarket Branch

41 Cornmarket

Derby

DE1 2DG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

130,976

146,159

Investments

7

607,700

607,700

738,676

753,859

CURRENT ASSETS

Debtors

1,097,476

2,208,761

Cash at bank and in hand

871,001

195,200

1,968,477

2,403,961

CREDITORS

Amounts falling due within one year

299,811

361,070

NET CURRENT ASSETS

1,668,666

2,042,891

TOTAL ASSETS LESS CURRENT LIABILITIES

2,407,342

2,796,750

CREDITORS

Amounts falling due after more than one year

(2,539

)

(543,599

)

PROVISIONS FOR LIABILITIES

(24,693

)

(23,821

)

NET ASSETS

2,380,110

2,229,330

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,379,110

2,228,330

SHAREHOLDERS' FUNDS

2,380,110

2,229,330

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2020 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 applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 21 October 2020 and were signed on its behalf by:

Mrs E M Thompson - Director

1.	STATUTORY INFORMATION

Cholwell House Nursing Home 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Straight line over 20 years

Plant and machinery etc

-

33% on cost and 15% 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2019 - 23 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

and 31 May 2020

350,000

AMORTISATION

At 1 June 2019

and 31 May 2020

350,000

NET BOOK VALUE

At 31 May 2020

-

At 31 May 2019

-

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2019

275,044

Additions

2,118

At 31 May 2020

277,162

DEPRECIATION

At 1 June 2019

128,885

Charge for year

17,301

At 31 May 2020

146,186

NET BOOK VALUE

At 31 May 2020

130,976

At 31 May 2019

146,159

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 June 2019

and 31 May 2020

59,694

DEPRECIATION

At 1 June 2019

11,821

Charge for year

7,180

At 31 May 2020

19,001

NET BOOK VALUE

At 31 May 2020

40,693

At 31 May 2019

47,873

7.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 June 2019

and 31 May 2020

607,700

NET BOOK VALUE

At 31 May 2020

607,700

At 31 May 2019

607,700

The fixed asset investment relates to the company's interest held in a partnership, trading as Cholwell Care of 275 Wells Road, Knowle, Bristol, BS4 2PP.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.20

31.5.19

£

£

Bank loans

-

554,241

Hire purchase contracts

15,297

31,698

15,297

585,939

The bank loan is secured by fixed and floating charges over the assets of the company.

The hire purchase contracts are secured by way of a fixed charge over the financed asset.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2020 and 31 May 2019:

31.5.20

31.5.19

£

£

Mrs J Tooze

Balance outstanding at start of year

-

37,500

Amounts repaid

-

(37,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

Mrs M Knighton

Balance outstanding at start of year

-

37,500

Amounts repaid

-

(37,500

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

-

T B Thompson

Balance outstanding at start of year

355,830

(137,705

)

Amounts repaid

(450,000

)

(50,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

196,091

355,830

10.	ULTIMATE CONTROLLING PARTY

The company was controlled during the current and previous period by its directors, Mr T B and Mrs E M Thompson, by virtue of the fact that, between them, they own the majority of the company's issued share capital.