Enhance Healthcare Centenary House Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: SC503530 (Scotland)

Unaudited Financial Statements

for the Period

31 December 2020 to 31 May 2022

for

ENHANCE HEALTHCARE CENTENARY HOUSE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTORS:

P G Mcniven

M Singh

REGISTERED OFFICE:

Barncluith Business Centre

Townhead Street

Hamilton

ML3 7DP

REGISTERED NUMBER:

SC503530 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

BANKERS:

The Royal Bank of Scotland

339 Byres Road

Glasgow

G12 8QP

FIXED ASSETS

Tangible assets

4

-

910,616

CURRENT ASSETS

Debtors

5

132,220

195,748

Cash at bank and in hand

209,825

5,421

342,045

201,169

CREDITORS

Amounts falling due within one year

6

(409,148

)

(285,174

)

NET CURRENT LIABILITIES

(67,103

)

(84,005

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(67,103

)

826,611

CREDITORS

Amounts falling due after more than one year

7

-

(424,373

)

PROVISIONS FOR LIABILITIES

-

(5,437

)

NET (LIABILITIES)/ASSETS

(67,103

)

396,801

CAPITAL AND RESERVES

Called up share capital

2

2

Fair value reserve

9

-

553,189

Retained earnings

(67,105

)

(156,390

)

SHAREHOLDERS' FUNDS

(67,103

)

396,801

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2022 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 February 2023 and were signed on its behalf by:

M Singh - Director

1.	STATUTORY INFORMATION

Enhance Healthcare Centenary House Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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 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 January 2015).

Turnover

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

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

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

Basic financial instruments

Basic financial instruments, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

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 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 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.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 41 (2020 - 41 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 31 December 2020

1,050,000

47,851

1,097,851

Additions

-

934

934

Disposals

(1,050,000

)

(48,785

)

(1,098,785

)

At 31 May 2022

-

-

-

DEPRECIATION

At 31 December 2020

168,000

19,235

187,235

Charge for period

56,000

6,187

62,187

Eliminated on disposal

(224,000

)

(25,422

)

(249,422

)

At 31 May 2022

-

-

-

NET BOOK VALUE

At 31 May 2022

-

-

-

At 30 December 2020

882,000

28,616

910,616

Cost or valuation at 31 May 2022 is represented by:

Freehold

property

£

Valuation in 2016

553,189

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2020

£

£

Trade debtors

27,106

64,643

Inter-company loans

105,114

105,693

Directors' current accounts

-

820

Prepayments and accrued income

-

24,592

132,220

195,748

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2020

£

£

Bank loans and overdrafts

-

194,893

Inter-company loans

359,024

6,079

Trade creditors

1,007

17,351

Tax

4,990

2,071

Social security and other taxes

-

8,369

Other creditors

39,611

5,070

Accrued expenses

4,516

51,341

409,148

285,174

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2020

£

£

Bank loans - 1-2 years

-

54,895

Bank loans - 2-5 years

-

164,686

Bank loans more 5 yr by instal

-

204,792

-

424,373

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

204,792

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2020

£

£

Bank overdraft

-

139,998

Bank loans

-

479,268

-

619,266

The bank loan & overdraft were secured by:

- A bond & floating charge over the company assets

- An inter-company guarantee (including standard security over the care homes)

9.

RESERVES

Fair

value

reserve

£

At 31 December 2020

553,189

Revalued property sold

(553,189

)

At 31 May 2022

-

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Enhance Healthcare Centenary House Ltd for the period ended 31 May 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Enhance Healthcare Centenary House Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Enhance Healthcare Centenary House Ltd and state those matters that we have agreed to state to the Board of Directors of Enhance Healthcare Centenary House Ltd, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Enhance Healthcare Centenary House Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Enhance Healthcare Centenary House Ltd. You consider that Enhance Healthcare Centenary House Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Enhance Healthcare Centenary House Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

28 February 2023