Sage Care Homes (Jasmin Court) Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04351365 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2017

for

Sage Care Homes (Jasmin Court) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S Ahmad

Mrs S Ahmad

Mrs G S Mahmood

SECRETARY:

S Ahmad

REGISTERED OFFICE:

52 The Drive

South Woodford

London

E18 2BJ

REGISTERED NUMBER:

04351365 (England and Wales)

ACCOUNTANTS:

Oscroft & Co Limited

88 Winchester Road

Fordhouses

Wolverhampton

West Midlands

WV10 6EZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,308,138

1,318,272

1,308,138

1,318,272

CURRENT ASSETS

Stocks

1,689

1,750

Debtors

6

27,271

597,008

Cash at bank and in hand

2,387

1,264

31,347

600,022

CREDITORS

Amounts falling due within one year

7

1,537,633

1,810,685

NET CURRENT LIABILITIES

(1,506,286

)

(1,210,663

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(198,148

)

107,609

CREDITORS

Amounts falling due after more than one year

8

-

(120,264

)

PROVISIONS FOR LIABILITIES

(5,048

)

(6,653

)

NET LIABILITIES

(203,196

)

(19,308

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(204,196

)

(20,308

)

SHAREHOLDERS' FUNDS

(203,196

)

(19,308

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 31 October 2017 and were signed on its behalf by:

S Ahmad - Director

1.	STATUTORY INFORMATION

Sage Care Homes (Jasmin Court) Ltd 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 fees for services supplied by the Company, which are exempt from Value Added Tax.

Turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of one 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

-

in accordance with the property

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

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 year was 56 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2016

and 31 January 2017

1

AMORTISATION

At 1 February 2016

and 31 January 2017

1

NET BOOK VALUE

At 31 January 2017

-

At 31 January 2016

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2016

1,268,420

330,498

5,000

1,603,918

Additions

-

9,429

-

9,429

At 31 January 2017

1,268,420

339,927

5,000

1,613,347

DEPRECIATION

At 1 February 2016

-

280,646

5,000

285,646

Charge for year

-

19,563

-

19,563

At 31 January 2017

-

300,209

5,000

305,209

NET BOOK VALUE

At 31 January 2017

1,268,420

39,718

-

1,308,138

At 31 January 2016

1,268,420

49,852

-

1,318,272

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Trade debtors

27,271

26,411

Amounts owed by related parties

-

570,597

27,271

597,008

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans and overdrafts

118,336

125,168

Trade creditors

64,596

9,976

Amounts owed to related parties

1,293,846

1,553,615

Social security and other taxes

14,443

14,629

Net wages

38,445

33,288

Directors' loan accounts

-

70,761

Accrued expenses

7,967

3,248

1,537,633

1,810,685

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.17

31.1.16

£

£

Bank loans - 1-2 years

-

120,264

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.17

31.1.16

£

£

Bank loans

118,336

245,264

The bank borrowings are secured by a legal charge and a debenture over the whole of the assets of the

company. In addition £900,000 is subject to a cross guarantee from Sage Care Homes (Jansondean) Limited.