Springfield Health Services Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04286417 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Springfield Health Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R Bennett

Mr M R Bennett

Ms L Bennett

Mrs E T Bennett

SECRETARY:

Mr R Bennett

REGISTERED OFFICE:

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

REGISTERED NUMBER:

04286417 (England and Wales)

ACCOUNTANTS:

Wilson Partners Limited

Chartered Accountants

5a Frascati Way

Maidenhead

Berkshire

SL6 4UY

FIXED ASSETS

Intangible assets

4

87,171

102,838

Tangible assets

5

1,940,008

1,994,361

2,027,179

2,097,199

CURRENT ASSETS

Stocks

1,950

1,950

Debtors

6

119,924

145,848

Cash at bank and in hand

879,752

720,343

1,001,626

868,141

CREDITORS

Amounts falling due within one year

7

(577,521

)

(635,253

)

NET CURRENT ASSETS

424,105

232,888

TOTAL ASSETS LESS CURRENT LIABILITIES

2,451,284

2,330,087

CREDITORS

Amounts falling due after more than one year

8

(1,118,886

)

(1,209,795

)

PROVISIONS FOR LIABILITIES

(47,015

)

(46,585

)

NET ASSETS

1,285,383

1,073,707

CAPITAL AND RESERVES

Called up share capital

150,100

150,100

Retained earnings

1,135,283

923,607

SHAREHOLDERS' FUNDS

1,285,383

1,073,707

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 April 2018 and were signed on its behalf by:

Mr M R Bennett - Director

1.	STATUTORY INFORMATION

Springfield Health Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies the directors are required to make

judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are

not readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant. Actual results may differ

from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to

accounting estimates are recognised in the period in which the estimate is revised if the revision

affects only that period, or in the period of the revision and future periods if the revision affects

both current and future periods.

The company does not make significant estimates and assumptions concerning the future that affect

the position shown in the accounts.

Turnover

The turnover shown in the profit and loss account represents fees receivable for services provided

during the year.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value,

over the useful economic life of that asset as follows:

Goodwill - 5% per annum on cost

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.

Fixtures and fittings

-

20% on reducing balance, 10% on cost and 5% on cost

Motor vehicles

-

20% on reducing balance

Freehold buildings are depreciated to expected residual value over their estimated useful life of 30

years. Where the Company applies a policy of regular maintenance to buildings where it is unlikely

that technological or economic obsolescence will occur and the future residual value is unlikely to be

less than the original cost, no depreciation is charged in respect of the buildings.

Tangible fixed assets are included at cost less depreciation and impairment.

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.

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.

Financial instruments

Basic financial instruments are recognised at amortised cost using the effective interest method,

except for investments in non-convertible preference and non-puttable preference and ordinary

shares, which are measured at fair value, with changes recognised in profit or loss. Derivative

financial instruments are initially recorded at cost and thereafter at fair value, with changes

recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 169 (2016 - 163 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

313,345

AMORTISATION

At 1 January 2017

210,507

Charge for year

15,667

At 31 December 2017

226,174

NET BOOK VALUE

At 31 December 2017

87,171

At 31 December 2016

102,838

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2017

1,271,701

1,664,724

2,936,425

Additions

-

25,144

25,144

At 31 December 2017

1,271,701

1,689,868

2,961,569

DEPRECIATION

At 1 January 2017

-

942,064

942,064

Charge for year

-

79,497

79,497

At 31 December 2017

-

1,021,561

1,021,561

NET BOOK VALUE

At 31 December 2017

1,271,701

668,307

1,940,008

At 31 December 2016

1,271,701

722,660

1,994,361

6.

DEBTORS

31.12.17

31.12.16

£

£

Amounts falling due within one year:

Trade debtors

112,074

144,856

Other debtors

4,450

992

116,524

145,848

Amounts falling due after more than one year:

Other debtors

3,400

-

Aggregate amounts

119,924

145,848

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans and overdrafts (see note 9)

78,049

78,049

Trade creditors

169,064

170,334

Taxation and social security

210,687

207,784

Other creditors

119,721

179,086

577,521

635,253

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Bank loans (see note 9)

1,118,886

1,209,795

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

806,692

897,600

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.17

31.12.16

£

£

Amounts falling due within one year or on demand:

Bank loans

78,049

78,049

Amounts falling due between one and two years:

Bank loans - 1-2 years

78,049

78,049

Amounts falling due between two and five years:

Bank loans - 2-5 years

234,145

234,146

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

806,692

897,600

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.17

31.12.16

£

£

Within one year

506

506

Between one and five years

-

2,023

506

2,529

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.17

31.12.16

£

£

Bank loans

1,196,935

1,287,844

The bank loans are secured by a first legal mortgage over the company's freehold property and a

fixed and floating charge over all present and future freehold and leasehold property, book and

other debts, chattels, goodwill and uncalled capital.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended

31 December 2017 and 31 December 2016:

31.12.17

31.12.16

£

£

Ms L Bennett

Balance outstanding at start of year

1,000

1,000

Amounts advanced

496

1,000

Amounts repaid

-

(1,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,496

1,000

13.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Bennett.