IOW Care Homes Limited - Limited company - abbreviated - 11.6
IOW Care Homes Limited - Limited company - abbreviated - 11.6
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2014 |
| FOR |
| IOW CARE HOMES LIMITED |
| IOW CARE HOMES LIMITED (REGISTERED NUMBER: 02808931) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| Page |
| Company information | 1 |
| Abbreviated balance sheet | 2 |
| Notes to the abbreviated accounts | 4 |
| Chartered accountants' report | 6 |
| IOW CARE HOMES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| IOW CARE HOMES LIMITED (REGISTERED NUMBER: 02808931) |
| ABBREVIATED BALANCE SHEET |
| 31 MARCH 2014 |
| 31.3.14 | 31.3.13 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| Investments | 3 |
| CURRENT ASSETS |
| Debtors | 4 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 5 |
| Other reserves | 773,830 | 773,830 |
| Profit and loss account |
| 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. |
| IOW CARE HOMES LIMITED (REGISTERED NUMBER: 02808931) |
| ABBREVIATED BALANCE SHEET - continued |
| 31 MARCH 2014 |
| The financial statements were approved by the Board of Directors on by: |
| IOW CARE HOMES LIMITED (REGISTERED NUMBER: 02808931) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| 1. | ACCOUNTING POLICIES |
| ACCOUNTING CONVENTION |
| The financial statements have been prepared under the historical cost convention and in accordance with the |
| Financial Reporting Standard for Smaller Entities (effective April 2008). |
| TURNOVER |
| Turnover represents the premiums receivable in respect of the company's principal activity of option trading. |
| TANGIBLE FIXED ASSETS |
| Plant & equipment | - |
| Computer equipment | - |
| DEFERRED TAX |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS |
| The company operates a defined contribution scheme whereby contributions are paid into separate pension |
| funds independent of the company. Contributions are charged to the profit and loss account when paid. |
| GROUP ACCOUNTS |
| The financial statements of Oakfields Care Limited, in which this company has a 33.33% holding, have not |
| been consolidated. The directors have taken advantage of the exemption from the requirement to prepare |
| group accounts on the grounds of differing activities and are of the opinion that the expense of consolidation |
| would be out of proportion to the value to the members of the company. |
| The company's financial statements present information about it as an individual undertaking and not about its |
| group. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 April 2013 |
| and 31 March 2014 |
| DEPRECIATION |
| At 1 April 2013 |
| Charge for year |
| At 31 March 2014 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| IOW CARE HOMES LIMITED (REGISTERED NUMBER: 02808931) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2014 |
| 3. | FIXED ASSET INVESTMENTS |
| Investments |
| other |
| than |
| loans |
| £ |
| COST |
| At 1 April 2013 | 730,759 |
| Additions | 659,526 |
| Disposals | (824,592 | ) |
| At 31 March 2014 | 565,693 |
| NET BOOK VALUE |
| At 31 March 2014 |
| At 31 March 2013 |
| 4. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| The aggregate total of debtors falling due after more than one year is £ |
| 5. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.14 | 31.3.13 |
| value: | £ | £ |
| Ordinary | £1 |
| 6. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2014 and |
| 31 March 2013: |
| 31.3.14 | 31.3.13 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Balance outstanding at end of year |
| At the balance sheet date, Mr. and Mrs. Patel, the directors of the company, had a current account balance of |
| £834 (2013- £6096). |
| During the year, interim dividends of £62000 (2013 - £62000) were paid to Mr. & Mrs. Patel, the directors of |
| the company. |
| The directors were granted a loan of £165,000 and this was draw down in two tranches. The loan is repayable |
| on demand and interest at the Revenue's beneficial loan rate is chargeable on the loan principal from |
| drawdown until settlement, payable on the anniversary of the first drawn down of the loan or settlement date, |
| whichever is the earlier. Repayments of £50,000 were made during the year, leaving a balance of £115,000 |
| outstanding at the year end. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| IOW CARE HOMES LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual |
| unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) |
| have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
| financial statements of IOW Care Homes Limited for the year ended 31 March 2014 which comprise the Profit and |
| loss account, the Balance sheet and the related notes from the company's accounting records and from information and |
| explanations you have given us. |
| As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are |
| subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of IOW Care Homes Limited, as a body, in accordance with our |
| terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of |
| IOW Care Homes Limited and state those matters that we have agreed to state to the Board of Directors of IOW Care |
| Homes Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the |
| fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its |
| Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that IOW Care Homes Limited has kept adequate accounting records and to prepare statutory |
| financial statements that give a true and fair view of the assets, liabilities, financial position and profit of IOW Care |
| Homes Limited. You consider that IOW Care Homes Limited is exempt from the statutory audit requirement for the |
| year. |
| We have not been instructed to carry out an audit or a review of the financial statements of IOW Care Homes Limited. |
| For this reason, we have not verified the accuracy or completeness of the accounting records or information and |
| explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
| 3 December 2014 |