Florence Lodge Healthcare Ltd - Accounts to registrar (filleted) - small 18.2
Florence Lodge Healthcare Ltd - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 |
| FOR |
| FLORENCE LODGE HEALTHCARE LTD |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 3 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| BALANCE SHEET |
| 31 MARCH 2021 |
| 2021 | 2020 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Intangible assets | 4 |
| Tangible assets | 5 |
| Current assets |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) |
| Creditors |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| Provisions for liabilities | 10 | ( |
) |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 11 |
| Share premium |
| Capital redemption reserve |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| 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. |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| BALANCE SHEET - continued |
| 31 MARCH 2021 |
| 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 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 1. | Statutory information |
| Florence Lodge Healthcare Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 05564580. The registered office and business address is Pullman Court, Copper Street, Dorchester DT1 1GA. |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| As at the balance sheet date the company has a deficiency of assets of £202,324. These financial statements have been drawn up on a going concern basis, which assumes that the funders and shareholders will continue to support the company and that the post year end forecasts of the company will be achieved. |
| Turnover |
| Turnover represents amounts receivable for providing care and residential services to the elderly. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business, has been fully amortised. |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Computer equipment | - |
| Freehold property is stated at fair value with revaluations taking place with sufficient regularity to ensure a true and fair view. |
| Government grants |
| Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
| Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable. |
| Stocks |
| Stock and Work In Progress are valued at the lower of cost and net realisable value. |
| 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. |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 2. | Accounting policies - continued |
| Deferred taxation |
| 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. |
| 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. |
| Financial instruments |
| Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities. |
| At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| 4. | Intangible fixed assets |
| Goodwill |
| £ |
| Cost |
| At 1 April 2020 |
| and 31 March 2021 |
| Amortisation |
| At 1 April 2020 |
| and 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 5. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost or valuation |
| At 1 April 2020 |
| Additions |
| Impairments | (20,726 | ) | - | - | - | (20,726 | ) |
| At 31 March 2021 |
| Depreciation |
| At 1 April 2020 |
| Charge for year |
| At 31 March 2021 |
| Net book value |
| At 31 March 2021 |
| At 31 March 2020 |
| Cost or valuation at 31 March 2021 is represented by: |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2010 | 54,734 | - | - | - | 54,734 |
| Valuation in 2016 | 116,947 | - | - | - | 116,947 |
| Valuation in 2019 | (265,000 | ) | - | - | - | (265,000 | ) |
| Valuation in 2021 | (20,726 | ) | - | - | - | (20,726 | ) |
| Cost | 1,086,045 | 208,399 | 116,252 | 1,068 | 1,411,764 |
| 972,000 | 208,399 | 116,252 | 1,068 | 1,297,719 |
| The property was valued by the directors in March 2021, they feel this valuation was appropriate as at the balance sheet date. |
| 6. | Debtors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Trade debtors |
| Sundry debtor | 13,623 | 13,623 |
| Other debtors |
| Prepayments |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 7. | Creditors: amounts falling due within one year |
| 2021 | 2020 |
| £ | £ |
| Debentures |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Pension | 1,539 | 1,697 |
| Other creditors |
| Wages and salaries control | 29,974 | 27,825 |
| Directors' current accounts | 1,315 | 1,315 |
| Accruals |
| 8. | Creditors: amounts falling due after more than one year |
| 2021 | 2020 |
| £ | £ |
| Debentures more 5 years |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 years |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Debentures more 5 years | - | 22,000 |
| Bank loans more 5 years | 1,736 | 438,265 |
| 1,736 | 460,265 |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2021 | 2020 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| The bank overdraft and loans, excluding the bounce back loan taken out during the year, totalling £660,686 are secured by way of debenture over all the assets of the company and first legal charges over any properties held in the company. |
| Debenture loans totalling £22,000 are secured by a mortgage debenture dated 20 January 2009 over the assets of the company. |
| All charges that existed at 31.03.2021, have been satisfied in full at Companies House, after the balance sheet date and replaced with a refinance package. |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2021 |
| 10. | Provisions for liabilities |
| 2021 | 2020 |
| £ | £ |
| Deferred tax | 8,069 | - |
| Deferred |
| tax |
| £ |
| Charge to Income statement during year |
| Balance at 31 March 2021 |
| 11. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2021 | 2020 |
| value: | £ | £ |
| Ordinary A | 1p | 2,000 | 2,000 |
| Ordinary B | 1p | 3,000 | 3,000 |
| 5,000 | 5,000 |
| 12. | Ultimate controlling party |
| The company is under the control of it's shareholders. No one shareholder holds a majority position directly or by virtue of association. The day to day running of the business is controlled by its directors |