Florence Lodge Healthcare Ltd - Accounts to registrar - small 16.3d
Florence Lodge Healthcare Ltd - Accounts to registrar - small 16.3d
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2016 |
| FOR |
| FLORENCE LODGE HEALTHCARE LTD |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| Page |
| Balance sheet | 1 |
| Notes to the financial statements | 3 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| BALANCE SHEET |
| 31 MARCH 2016 |
| 2016 | 2015 |
| 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 |
| Revaluation reserve | 12 |
| 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 2016 |
| 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 on |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 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 |
| These financial statements have been drawn up on a going concern basis, which assumes that the bank 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, net of VAT and trade |
| discounts. |
| Goodwill |
| Goodwill, being the amount paid in connection with the acquisition of the business, has been fully amortised. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Freehold property is stated at fair value with revaluations taking place with sufficient regularity to ensure a true and fair |
| view. |
| Stocks |
| Stock and Work In Progress are valued at the lower of cost and net realisable value. |
| Taxation |
| Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or |
| past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that |
| have been enacted or substantively enacted by the balance sheet date. |
| Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of |
| current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing |
| differences are differences between taxable profits and total comprehensive income as stated in the financial statements |
| that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are |
| recognised in the financial statements. 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. |
| Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet |
| date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible |
| fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset. |
| 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. |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 2. | Accounting policies - continued |
| 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 2015 |
| and 31 March 2016 |
| Amortisation |
| At 1 April 2015 |
| and 31 March 2016 |
| Net book value |
| At 31 March 2016 |
| At 31 March 2015 |
| 5. | Tangible fixed assets |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Cost or valuation |
| At 1 April 2015 |
| Additions |
| Revaluations |
| At 31 March 2016 |
| Depreciation |
| At 1 April 2015 |
| Charge for year |
| At 31 March 2016 |
| Net book value |
| At 31 March 2016 |
| At 31 March 2015 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 5. | Tangible fixed assets - continued |
| Cost or valuation at 31 March 2016 is represented by: |
| Fixtures |
| Freehold | Plant and | and | Motor |
| property | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2010 | 270,668 | - | - | - | 270,668 |
| Valuation in 2016 | 235,572 | - | - | - | 235,572 |
| Cost | 1,588,760 | 116,219 | 153,467 | 898 | 1,859,344 |
| 2,095,000 | 116,219 | 153,467 | 898 | 2,365,584 |
| The director has revalued the properties to fair value at the year end The value has been calculated using market based |
| evidence obtained. Future revaluations will take place with sufficient regularity, to ensure a true and fair view. |
| 6. | Debtors: amounts falling due within one year |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| 7. | Creditors: amounts falling due within one year |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Social security and other taxes |
| Other creditors |
| Wages and salaries control | 52,528 | 41,431 |
| Directors' current accounts | - | 3,562 |
| Accruals |
| 8. | Creditors: amounts falling due after more than one year |
| 2016 | 2015 |
| £ | £ |
| Debentures more 5 years |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 years |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 8. | Creditors: amounts falling due after more than one year - continued |
| 2016 | 2015 |
| £ | £ |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Debentures more 5 years | 22,000 | 22,000 |
| Bank loans more 5 years | 1,037,579 | 1,139,209 |
| 1,059,579 | 1,161,209 |
| 9. | Secured debts |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| The bank overdraft and loans totalling £1,515,584 are secured by way of debenture over all the assets of the company and |
| first legal charges over the properties known as Florence Lodge Care Home and Broadwindsor House Care Home. |
| Debenture loans, shown within other creditors and totalling £22,000 are secured by a mortgage debenture dated 20 |
| January 2009 over the assets of the company. |
| 10. | Provisions for liabilities |
| 2016 | 2015 |
| £ | £ |
| Deferred tax | 58,061 | 10,947 |
| Deferred |
| tax |
| £ |
| Balance at 1 April 2015 |
| Charge to Statement of comprehensive income during year |
| Balance at 31 March 2016 |
| 11. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary A | 1p | 2,000 | 2,000 |
| Ordinary B | 1p | 3,000 | 3,000 |
| 5,000 | 5,000 |
| FLORENCE LODGE HEALTHCARE LTD (REGISTERED NUMBER: 05564580) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2016 |
| 12. | Reserves |
| Revaluation |
| reserve |
| £ |
| At 1 April 2015 |
| Freehold property revaluation | 188,458 |
| At 31 March 2016 |
| 13. | 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 |
| 14. | First year adoption |
| These financial statements for the year ended 31 March 2016 are the first financial statements that comply with FRS 102 |
| Section 1A small entities. The date of transition is 1 April 2014. |
| The transition to FRS102 Section 1A small entities has resulted in a small number of changes in accounting policies to those |
| previously used. |
| The nature of these changes and their impact on opening equity and profit, where applicable, is detailed in the notes to |
| these financial statements. |