Blagreaves Care Home Limited - Period Ending 2016-07-31

Registration number: 06478523

Blagreaves Care Home Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 July 2016
 

Blagreaves Care Home Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Blagreaves Care Home Limited
(Registration number: 06478523)
Abbreviated Balance Sheet at 31 July 2016

		Note			31 July 2016 £			31 July 2015 £
Fixed assets
Intangible fixed assets					70,000			76,000
Tangible fixed assets		2			473,219			484,251
					543,219			560,251
Current assets
Stocks					5,000			3,550
Debtors					1,570			76,662
Cash at bank and in hand					279			52,958
					6,849			133,170
Creditors: Amounts falling due within one year		3			(211,465)			(123,368)
Net current (liabilities)/assets					(204,616)			9,802
Total assets less current liabilities					338,603			570,053
Creditors: Amounts falling due after more than one year		3			(342,836)			(56,785)
Provisions for liabilities					(4,440)			(4,683)
Net (liabilities)/assets					(8,673)			508,585
Capital and reserves
Called up share capital		4			100			300
Capital redemption reserve					200			-
Profit and loss account					(8,973)			508,285
Shareholders' (deficit)/funds					(8,673)			508,585

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Blagreaves Care Home Limited
(Registration number: 06478523)
Abbreviated Balance Sheet at 31 July 2016
......... continued

For the year ending 31 July 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the director on 24 May 2017

.........................................
R Purmessur
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Blagreaves Care Home Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on the continued support of the directors/other creditors not requiring the withdrawal of monies owed to them until sufficient funds are available.

If the company were unable to trade, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover

Turnover represents the total invoice value, excluding value added tax, of sales made during the year. Income is recognised based on the date goods are despatched and the level of completion of services.

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20 years straight line

Depreciation

Tangible fixed assets are initially recorded at cost. Depreciation is provided on tangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	50 years straight line basis on buildings only
Fixtures, fittings and equipment	15% reducing balance basis
Office equipment	15% straight line basis

Stock

Page 3

Blagreaves Care Home Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 August 2015		120,000			565,698			685,698
Additions		-			5,096			5,096
At 31 July 2016		120,000			570,794			690,794
Depreciation
At 1 August 2015		44,000			81,447			125,447
Charge for the year		6,000			16,128			22,128
At 31 July 2016		50,000			97,575			147,575
Net book value
At 31 July 2016		70,000			473,219			543,219
At 31 July 2015		76,000			484,251			560,251

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		31 July 2016 £			31 July 2015 £
Amounts falling due within one year		54,675			30,560
Amounts falling due after more than one year		342,836			56,785
Total secured creditors		397,511			87,345

Page 4

Blagreaves Care Home Limited
Notes to the Abbreviated Accounts for the Year Ended 31 July 2016
......... continued

4	Share capital

Allotted, called up and fully paid shares

	31 July 2016						31 July 2015
		No.			£			No.			£
Ordinary A shares of £ 1 each		-			-			100			100
Ordinary B shares of £ 1 each		-			-			100			100
Ordinary C shares of £ 1 each		100			100			100			100
		100			100			300			300

Purchase of own shares

During the year the company purchased 100 of its own Ordinary A shares at a nominal value of £100. The Ordinary A shares were purchased for a consideration of £254,152 and represent 100% of the called up share capital of that class of share.

During the year the company purchased 100 of its own Ordinary B shares at a nominal value of £100. The Ordinary B shares were purchased for a consideration of £254,152 and represent 100% of the called up share capital of that class of share.

5	Related party transactions

Directors' advances and credits

	Year ended 31 July 2016 £		1 April 2014 to 31 July 2015 £
R Purmessur
Balance owed (by) / to the director at start of year	(69,114)		(75,480)
Dividends voted	-		76,000
Drawings	(45,887)		(92,108)
Capital introduced	237,225		22,474
Balance owed (by) / to the director at year end	122,224		(69,114)

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