Esk Hall Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05332774 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2020

FOR

ESK HALL LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

R J D Inman

C N Spencer

A M Simpson

SECRETARY:

R J D Inman

REGISTERED OFFICE:

10 North Park Road

Harrogate

North Yorkshire

HG1 5PD

REGISTERED NUMBER:

05332774 (England and Wales)

SENIOR STATUTORY AUDITOR:

Gavin Bell BA ACA

AUDITORS:

Sedulo Audit Limited

Statutory Auditors

Regency Court

62-66 Deansgate

Manchester

M3 2EN

FIXED ASSETS

Investments

4

3,035

CURRENT ASSETS

Stocks

163,177

326,353

Debtors

5

997,749

990,772

Cash at bank

72,862

159,199

1,233,788

1,476,324

CREDITORS

Amounts falling due within one year

6

812,686

1,007,109

NET CURRENT ASSETS

421,102

469,215

TOTAL ASSETS LESS CURRENT
LIABILITIES

424,137

472,250

CREDITORS

Amounts falling due after more than one
year

7

(120,192

)

(259,873

)

PROVISIONS FOR LIABILITIES

-

(9,000

)

NET ASSETS

303,945

203,377

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

303,845

203,277

SHAREHOLDERS' FUNDS

303,945

203,377

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 Board of Directors and authorised for issue on 30 March 2021 and were signed on its behalf by:

R J D Inman - Director

A M Simpson - Director

1.	STATUTORY INFORMATION

Esk Hall 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.

The principal activity of the company during the year was the provision of management services to care homes and development and sale of residential property.

2.	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 as modified by the revaluation of certain assets.

The financial statements are prepared in Sterling (GBP), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

In common with virtually every other business in the country the company has been experiencing the effects of the Coronavirus pandemic and the directors are continually assessing the impact of this exceptional situation on the company.

The company utilizes long term mortgage funding which is not due for repayment for more than 5 years, and funding from its parent company from whom an undertaking has been received that repayment will not be sought until such time as sufficient funds are available. Subsequent to the year end the company is marketing for sale its remaining property development, proceeds of which will be used to settle mortgage funding and provide additional working capital for the company.

Forecast rental income is expected to exceed outgoings and the company expects to be able to meet its liabilities as and when they fall due.

Accordingly, at the time of signing these accounts the Directors are of the opinion that the company will remain viable for the foreseeable future and therefore these financial statements have been prepared on the going concern basis.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in associates

Investments in associate undertakings are recognised at cost.

Stock and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

The company only enters into transactions in 'basic' financial instruments which result in the recognition of assets and liabilities; these include trade and other debtors and creditors, bank balances, loans from banks and other third parties, and loans to related parties.

Basic financial assets (other than those classified as payable within one year) are initially measured at cost, and are subsequently carried at cost or amortised cost using the effective interest method, less any impairment losses. Basic financial assets classified as receivable within one year are not amortised.

Basic financial liabilities (other than those classified as payable within one year) are initially recognised at present value of future cash flows and subsequently at amortised costs using the effective interest method. Basic financial liabilities classified as payable within one year are not amortised.

Financial assets and liabilities are offset, with the net amounts reported in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 balance sheet date.

Deferred tax

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 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.

Operating leases

Rental income under operating leases is charged / credited to the profit and loss account for the period to which it relates.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2019

and 31 March 2020

3,035

NET BOOK VALUE

At 31 March 2020

3,035

At 31 March 2019

3,035

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

(Unaudited)

£

Trade debtors

650

422

Amounts owed by group undertakings

4,807

-

Amounts owed by associates

967,986

966,039

Other debtors

24,306

24,311

997,749

990,772

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

(Unaudited)

£

Bank loans and overdrafts

4,383

7,779

Trade creditors

1,321

1,203

Amounts owed to group undertakings

774,689

966,039

Taxation and social security

9,395

12,943

Other creditors

22,898

19,145

812,686

1,007,109

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.20

31.3.19

(Unaudited)

£

Bank loans

120,192

259,873

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.20

31.3.19

(Unaudited)

£

Bank loans

124,575

267,652

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

The Report of the Auditors was qualified on the following basis:

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

The scope of our work was limited in that we were unable to obtain sufficient audit evidence concerning the accuracy of Amounts owed by associates of £967,986 (note 10). Based on the enquiries and procedures we were able to undertake the debtor balance may be overstated by up to £502,420. Consequently, our report is qualified in respect of this matter.

Arising solely from the limitation on the scope of our work referred to above:

- we have not obtained all the information and explanations that we considered necessary for the purpose of our audit.

We draw attention to note 2 to the financial statements which explains the directors assessment of uncertainties arising from the Covid-19 pandemic and their impact on the company.

Gavin Bell BA ACA (Senior Statutory Auditor)

for and on behalf of Sedulo Audit Limited

10.	RELATED PARTY DISCLOSURES

Included in debtors is an amount owed by Fisher Care Group Limited, an associated undertaking, of £967,986 (2019: £966,039). Interest is chargeable at rates of 4.85% and 6.35% per annum.

Included in debtors is an amount due from Bedale Grange (TFP) Limited, a fellow group undertaking, of £881 (2019: £Nil). No interest is chargeable on this balance.

Included in debtors is an amount due from The Fisher Partnership Limited, a fellow group undertaking, of £3,926 (2019: £Nil). No interest is chargeable on this balance.

Included in creditors is an amount owed to the company's immediate parent undertaking, The TFP Group Limited, of £774,689 (2019: £966,039). No interest is chargeable on this balance.

Included in Other creditors is an amount owed to TFP Cottages Limited £3,752 (2019: £Nil), a company under common ownership. No interest is chargeable on this balance.

Esk Hall Limited - Accounts to registrar (filleted) - small 18.2

Esk Hall Limited - Accounts to registrar (filleted) - small 18.2