Worcs Healthcare Education Co Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 03885017 (England and Wales)

Financial Statements for the Year Ended 31st March 2017

for

The Worcestershire Healthcare Education

Company Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Black

A G Duncan

Prof M J Kendall

Dr J M Mather

Dr N Hudson

S Lake

Dr J Quallington

Dr S King

J A Yelland

Mrs C Merrick

SECRETARY:

P J Morris

REGISTERED OFFICE:

The Charles Hastings Education Centre

Worcestershire Royal Hospital

Charles Hastings Way

Worcester

Worcestershire

WR5 1DD

REGISTERED NUMBER:

03885017 (England and Wales)

AUDITORS:

Richards Sandy Partnership Ltd (Statutory Auditor)

Thorneloe House

25 Barbourne Road

Worcester

Worcestershire

WR1 1RU

CURRENT ASSETS

Debtors

17,001

11,613

Cash at bank

140,152

150,707

157,153

162,320

CREDITORS

Amounts falling due within one year

157,152

162,319

NET CURRENT ASSETS

1

1

TOTAL ASSETS LESS CURRENT LIABILITIES

1

1

CAPITAL AND RESERVES

Called up share capital

1

1

SHAREHOLDERS' FUNDS

1

1

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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 26th October 2017 and were signed on its behalf by:

J Black - Director

1.	STATUTORY INFORMATION

The Worcestershire Healthcare Education Company 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.

These accounts are the first accounts under Financial Reporting Standard 102, the date of transition was 01

April 2015 and there were no transition adjustments required.

The accounts are prepared in stirling, which is the functional currency of the charity. Monetary amounts in these

financial statements are rounded to the nearest £.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

LEASING

Rentals paid or received under operating leases are charged/ credited to profit or loss on a straight line basis

over the period of the lease.

3.	LEASING AGREEMENTS

The company leases the premises known as the Charles Hastings Education Centre at Worcestershire Royal

Hospital, Newtown Road, Worcester from The Charles Hastings Education Centre. The lease is for a period of

25 years from 11 March 2004. The rent payable in the first year of this lease was £183,750. Subsequent rent

payable is increased annually by reference to the Index of Retail Prices. Rent paid during the year ended 31

March 2017 amounted to £206,336 (2016 - £202,290).

The company sublets the premises known as the Charles Hastings Education Centre at Worcestershire Royal

Hospital, Newtown Road, Worcester to Worcestershire Acute Hospitals NHS Trust. The lease is for a period of

99 years from 8 March 2002. An annual fee is payable in respect of this lease. The annual fee in the first year of

this lease was £175,000. Subsequent annual fees must be agreed at the start of each rental year at an amount

which is deemed to be fair and reasonable. The annual fee received during the year ended 31 March 2017

amounted to £263,965 (2016 - £260,148).

4.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Rob Richards FCA CTA FCCA (Senior Statutory Auditor)

for and on behalf of Richards Sandy Partnership Ltd (Statutory Auditor)