Edwardian Care Homes Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 03224641 (England and Wales)

Abbreviated Unaudited Accounts

For The Year Ended 30th September 2014

for

Edwardian Care Homes Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S M Hussain

REGISTERED OFFICE:

Victoria House

14-26 Victoria Street

Luton

Bedfordshire

LU1 2UA

REGISTERED NUMBER:

03224641 (England and Wales)

ACCOUNTANTS:

Dua & Co. Limited

3 Century Court

Tolpits Lane

Watford

Hertfordshire

WD18 9RS

FIXED ASSETS

Tangible assets

2

4,281,479

3,057,745

CURRENT ASSETS

Stocks

600

600

Debtors

26,607

12,035

Cash at bank and in hand

3,395

10,138

30,602

22,773

CREDITORS

Amounts falling due within one year

3

(624,120

)

(555,354

)

NET CURRENT LIABILITIES

(593,518

)

(532,581

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,687,961

2,525,164

CREDITORS

Amounts falling due after more than one year

3

(1,398,659

)

(1,464,577

)

NET ASSETS

2,289,302

1,060,587

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Revaluation reserve

1,098,610

-

Profit and loss account

1,189,692

1,059,587

SHAREHOLDERS' FUNDS

2,289,302

1,060,587

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 8th June 2015 and were signed by:

S M Hussain - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and in

accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

Depreciation over 5 years

Plant and machinery

-

15% on reducing balance

Freehold properties are included in the balance sheet at their open market value at the balance sheet date on the basis of an annual

valuation. All other fixed assets are held at historic purchase cost less accumulated depreciation. Cost will include the original purchase

price of the asset and the cost attributable to bringing the asset to its working condition for its intended use. The annual valuation was

performed for all properties at 30th September 2014.

Stocks

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

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Investment properties

In accordance with Statement of Standard Accounting Practice Number 19, investment properties are revalued annually and the

aggregate surplus or deficit is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of freehold and

long leasehold investment properties.

This treatment may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these

properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be

inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1st October 2013

3,096,363

Additions

126,225

Revaluations

1,098,610

At 30th September 2014

4,321,198

DEPRECIATION

At 1st October 2013

38,618

Charge for year

1,101

At 30th September 2014

39,719

NET BOOK VALUE

At 30th September 2014

4,281,479

At 30th September 2013

3,057,745

3.

CREDITORS

Creditors include an amount of £ 1,426,005 (2013 - £ 1,560,700 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary

£1

1,000

1,000

5.	CROSS GUARANTEES

Heritage Care Homes Limited have given £500,000 cross guarantee to support facilities advanced to Edwardian Care Homes Limited. As

well as granting a debenture over its assets and 1st legal charge over 8 Compton Avenue, Luton, Biscot House, 75 Biscot Road, Luton

and its associated assets.