Leisure Care Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03862625 (England and Wales)

LEISURE CARE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2020

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

D E Brooks

J P Brooks

REGISTERED OFFICE:

Wide-A-Wake

10 Seacroft Esplanade

Skegness

Lincolnshire

PE25 3BE

REGISTERED NUMBER:

03862625 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

27-29 Lumley Avenue

Skegness

Lincolnshire

PE25 2AT

BANKERS:

Barclays Bank PLC

65 Lumley Road

Skegness

Lincolnshire

PE25 3LU

FIXED ASSETS

Tangible assets

4

79,177

98,942

CURRENT ASSETS

Stocks

500

1,200

Debtors

5

75,555

66,710

Cash at bank and in hand

75,025

39,028

151,080

106,938

CREDITORS

Amounts falling due within one year

6

302,862

296,713

NET CURRENT LIABILITIES

(151,782

)

(189,775

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(72,605

)

(90,833

)

PROVISIONS FOR LIABILITIES

4,025

3,993

NET LIABILITIES

(76,630

)

(94,826

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(77,630

)

(95,826

)

(76,630

)

(94,826

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 26 May 2021 and were signed on its behalf by:

D E Brooks - Director

1.	STATUTORY INFORMATION

Leisure Care Homes 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Turnover

Turnover represents invoiced sales of services.

Tangible fixed assets

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

Improvements to property

-

33% on cost, 20% on cost, 10% on cost and 3 - 13 years straight line

Fixtures and fittings

-

15% on reducing balance

Tangible fixed assets are held at cost less depreciation.

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual model.

Stocks

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern

At 31 August 2020 the company owed the parent company £260,693 (2019: £251,587). The parent company has agreed that it will not withdraw this amount ahead of other creditors. The company is dependent upon the support of the parent company to continue trading and the directors have indicated that support to the company is their intention.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 51 (2019 - 54 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2019

558,136

Additions

1,080

At 31 August 2020

559,216

DEPRECIATION

At 1 September 2019

459,194

Charge for year

20,845

At 31 August 2020

480,039

NET BOOK VALUE

At 31 August 2020

79,177

At 31 August 2019

98,942

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

75,555

63,629

Other debtors

-

3,081

75,555

66,710

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

17,772

28,920

Taxation and social security

14,496

7,798

Other creditors

270,594

259,995

302,862

296,713

7.	RELATED PARTY DISCLOSURES

The company is ultimately controlled by D E Brooks who owns the majority shareholding in the parent company Edward Brooks Holdings Limited.