Sutton Court Associates Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04937410 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2017

for

Sutton Court Associates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Ramdin

Mrs B Ramdin

REGISTERED OFFICE:

69 Chesswood Road

Worthing

West Sussex

BN11 2AB

REGISTERED NUMBER:

04937410 (England and Wales)

ACCOUNTANTS:

Ghiaci Goodhand Smith Limited

12a Marlborough Place

BRIGHTON

East Sussex

BN1 1WN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,388,866

2,110,942

2,388,866

2,110,942

CURRENT ASSETS

Debtors

6

3,457

11,409

Cash at bank and in hand

219,210

348,310

222,667

359,719

CREDITORS

Amounts falling due within one year

7

234,142

217,453

NET CURRENT (LIABILITIES)/ASSETS

(11,475

)

142,266

TOTAL ASSETS LESS CURRENT LIABILITIES

2,377,391

2,253,208

CREDITORS

Amounts falling due after more than one year

8

(1,356,493

)

(1,447,850

)

PROVISIONS FOR LIABILITIES

10

(16,291

)

(17,460

)

NET ASSETS

1,004,607

787,898

CAPITAL AND RESERVES

Called up share capital

11

101

101

Retained earnings

12

1,004,506

787,797

SHAREHOLDERS' FUNDS

1,004,607

787,898

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 18 August 2017 and were signed on its behalf by:

M Ramdin - Director

1.	STATUTORY INFORMATION

Sutton Court Associates 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced fees raised in the year.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of five years.

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

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

Freehold property

-

not provided

Improvements to property

-

not provided

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

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.

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 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.

Freehold property

No depreciation has been provided on the freehold property as the annual impairment review

revealed that the net realisable value of the property was well in excess of its cost price at the

Balance Sheet date. The policy is a departure from the specific requirement of the Companies Act

2006 to provide depreciation on any fixed asset which has a limited useful economic life. The

departure from the Companies Act 2006 requirements is for the overriding purpose of giving a true

and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

100,000

AMORTISATION

At 1 June 2016

and 31 May 2017

100,000

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

-

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 June 2016

1,899,349

54,817

44,939

Additions

204,964

86,951

-

Disposals

-

-

(6,762

)

At 31 May 2017

2,104,313

141,768

38,177

DEPRECIATION

At 1 June 2016

-

-

38,095

Charge for year

-

-

1,189

Eliminated on disposal

-

-

(5,860

)

At 31 May 2017

-

-

33,424

NET BOOK VALUE

At 31 May 2017

2,104,313

141,768

4,753

At 31 May 2016

1,899,349

54,817

6,844

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2016

320,620

13,500

4,651

2,337,876

Additions

1,532

4,751

-

298,198

Disposals

(2,236

)

-

(1,116

)

(10,114

)

At 31 May 2017

319,916

18,251

3,535

2,625,960

DEPRECIATION

At 1 June 2016

175,091

9,782

3,966

226,934

Charge for year

14,592

2,117

342

18,240

Eliminated on disposal

(1,104

)

-

(1,116

)

(8,080

)

At 31 May 2017

188,579

11,899

3,192

237,094

NET BOOK VALUE

At 31 May 2017

131,337

6,352

343

2,388,866

At 31 May 2016

145,529

3,718

685

2,110,942

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Prepayments and accrued income

3,457

11,409

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Mortgage

94,263

93,970

Tax

85,981

71,332

Social security and other taxes

12,220

10,473

Sutton Court Nursing Homes Ltd

39,922

39,922

Directors' loan accounts

16

16

Accrued expenses

1,740

1,740

234,142

217,453

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.17

31.5.16

£

£

Mortgage - 1-2 years

94,564

94,263

Mortgage - 2-5 years

367,575

378,652

Mortgage

894,354

974,935

1,356,493

1,447,850

Amounts falling due in more than five years:

Repayable by instalments

Mortgage

894,354

974,935

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.17

31.5.16

£

£

Mortgage

1,450,756

1,541,820

The mortgages are secured by a first charge held on the properties concerned, being 15 and 17

Shakespeare Road, Baytree House and 10 Exmoor Crescent.

10.	PROVISIONS FOR LIABILITIES

31.5.17

31.5.16

£

£

Deferred tax

16,291

17,460

Deferred

tax

£

Balance at 1 June 2016

17,460

Accelerated capital allowances

(1,169

)

Balance at 31 May 2017

16,291

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

31.5.17

31.5.16

£

£

100

Ordinary

£1.00

100.00

100.00

25

Ordinary A

£0.01

0.25

0.25

25

Ordinary B

£0.01

0.25

0.25

25

Ordinary C

£0.01

0.25

0.25

25

Ordinary D

£0.01

0.25

0.25

12.

RESERVES

Retained

earnings

£

At 1 June 2016

787,797

Profit for the year

341,826

Dividends

(125,117

)

At 31 May 2017

1,004,506

13.	RELATED PARTY DISCLOSURES

Included in creditors as at 31 May 2017 is an amount of £39,922 (2016: £39,922) owed to Sutton

Court Nursing Homes Limited, a company controlled by the directors.

14.	CONTROLLING PARTY

The company was controlled by its directors throughout the period.