Surbiton Care Centre Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05374338 (England and Wales)

SURBITON CARE CENTRE LTD

FINANCIAL STATEMENTS

FOR THE PERIOD 1 FEBRUARY 2019 TO 31 MARCH 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr L Hasham

REGISTERED OFFICE:

Capital House

106 Meadrow

Godalming

Surrey

GU7 3HY

REGISTERED NUMBER:

05374338 (England and Wales)

AUDITORS:

Rothmans Audit LLP

Statutory Auditors

Chartered Accountants

Fryern House

125 Winchester Road

Chandlers Ford

Hampshire

SO53 2DR

FIXED ASSETS

Intangible assets

3

-

-

Tangible assets

4

29,624

39,628

29,624

39,628

CURRENT ASSETS

Debtors

5

879,280

370,643

Cash at bank and in hand

6,813

371,785

886,093

742,428

CREDITORS

Amounts falling due within one year

6

125,835

347,877

NET CURRENT ASSETS

760,258

394,551

TOTAL ASSETS LESS CURRENT LIABILITIES

789,882

434,179

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

788,882

433,179

SHAREHOLDERS' FUNDS

789,882

434,179

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 18 March 2021 and were signed by:

Mr L Hasham - 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.

The presentation currency is £ sterling.

Significant judgements and estimates

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date, and the amounts reports for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Impairment of assets

Management use their judgement to determine if there are any indicators of impairment.

Other key sources of estimation uncertainty

Tangible fixed assets

Management estimate the useful life and residual value of tangible assets based on market information and their knowledge of the business, the remaining life of the asset and projected disposal value.

Turnover

Turnover is generated from the provision of residential care services.

Turnover is recognised when care services are provided and is adjusted for accrued and deferred income where necessary.

Turnover is exempt from value added tax.

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses in 2005, is being amortised evenly over its estimated useful life of six 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

All fixed assets are initially recognised at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses.

The cost of fixed assets initially recognised includes its purchase price and any cost that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in a manner intended by management.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and fittings

25% on reducing balance

Motor vehicles

25% on reducing balance

Computer equipment

25% on reducing balance

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Fixed assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in the income statement.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the income statement. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the period 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 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 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 period 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 the income statement in the period to which they relate.

Finance costs

Finance costs are charged to the income statement over the term of the debt using the effective interest rate method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Frequency of reporting

The company year end was extended from 31 January 2020 to 31 March 2020. The comparative information presented in the accounts (including related notes) may not be entirely comparable.

Prior year restatement

The income statement has been restated to better reflect the profit margins. This has resulted in £554,280 being reclassified from administrative expenditure to cost of sales.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 19 (2019 - 17 ) .

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2019

and 31 March 2020

1,154,580

AMORTISATION

At 1 February 2019

and 31 March 2020

1,154,580

NET BOOK VALUE

At 31 March 2020

-

At 31 January 2019

-

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 February 2019

353,611

8,550

2,288

364,449

Additions

1,777

-

-

1,777

At 31 March 2020

355,388

8,550

2,288

366,226

DEPRECIATION

At 1 February 2019

315,477

7,165

2,179

324,821

Charge for period

11,345

404

32

11,781

At 31 March 2020

326,822

7,569

2,211

336,602

NET BOOK VALUE

At 31 March 2020

28,566

981

77

29,624

At 31 January 2019

38,134

1,385

109

39,628

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

84,943

8,143

Amounts owed by group undertakings

777,194

-

Other debtors

14,938

358,896

Prepayments and accrued income

2,205

3,604

879,280

370,643

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

101,659

161,896

Corporation tax

150

114

Social security and other taxes

4,610

6,413

Other creditors

1,304

159,832

Accruals and deferred income

18,112

19,622

125,835

347,877

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

The Report of the Auditors was unqualified.

Liz Martyn ACA (Senior Statutory Auditor)

for and on behalf of Rothmans Audit LLP

8.	CONTINGENT LIABILITIES

The company has a cross guarantee with its holding company, CHD Living Limited, in favour of Barclays Bank to guarantee its loan. The total indebtedness at the balance sheet date is £20,862.944.

9.	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.

10.	ULTIMATE PARENT COMPANY AND CONTROLLING PARTY

The company's immediate parent undertaking is CHD Living Ltd and the ultimate parent undertaking is CHD Surrey Ltd, a company incorporated in England and Wales. The ultimate control of that company is exercised by its shareholders. No one shareholder has ultimate control.

The largest group in which the results of the company are consolidated is that headed up by CHD Surrey Ltd. The group accounts are available to the public and may be obtained from the Registrar of Companies