Wellesley House Nursing Home Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04055180 (England and Wales)

Financial Statements for the Year Ended 31 December 2017

for

Wellesley House Nursing Home Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

S N M Cadman

S M Cadman

N M Cadman

SECRETARY:

S N M Cadman

REGISTERED OFFICE:

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

BUSINESS ADDRESS:

186 Penn Road

Wolverhampton

West Midlands

WV3 0EN

REGISTERED NUMBER:

04055180 (England and Wales)

ACCOUNTANTS:

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

BANKERS:

The Royal Bank of Scotland plc

5 - 9 Nicholas Street

Worcester

WR1 1UR

SOLICITORS:

Manby & Steward

George House

St John's Square

Wolverhampton

WV2 4BZ

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Wellesley House Nursing Home Limited for the year ended 31 December 2017 which comprise

the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wellesley House Nursing Home 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 Wellesley House Nursing Home Limited and state those matters that we have agreed to state to the Board of Directors of Wellesley House Nursing Home Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. 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 Wellesley House Nursing Home 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 Wellesley House Nursing Home Limited. You consider that Wellesley House Nursing Home 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 Wellesley House Nursing Home 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.

Hamiltons Group Limited

Chartered Certified Accountants

Meriden House

6 Great Cornbow

Halesowen

West Midlands

B63 3AB

13 June 2018

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

1,045,075

1,048,918

1,045,075

1,048,918

CURRENT ASSETS

Debtors

6

414,248

372,372

Cash at bank

224,356

309,233

638,604

681,605

CREDITORS

Amounts falling due within one year

7

110,890

181,854

NET CURRENT ASSETS

527,714

499,751

TOTAL ASSETS LESS CURRENT LIABILITIES

1,572,789

1,548,669

CREDITORS

Amounts falling due after more than one year

8

-

(8,888

)

PROVISIONS FOR LIABILITIES

10

(3,667

)

(4,506

)

NET ASSETS

1,569,122

1,535,275

CAPITAL AND RESERVES

Called up share capital

11

125

125

Retained earnings

1,568,997

1,535,150

SHAREHOLDERS' FUNDS

1,569,122

1,535,275

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 13 June 2018 and were signed on its behalf by:

S N M Cadman - Director

1.	STATUTORY INFORMATION

Wellesley House Nursing Home 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to

the nearest £.

Turnover

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

value added tax and other sales taxes.

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

-

0%

Fixtures and fittings

-

at variable rates on reducing balance

Depreciation has been provided at a rate of 0% on freehold buildings as in the opinion of the directors, these are

maintained in a continual state of sound repair, their lives are long and residual values are such that depreciation

is not material.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 57 (2016 - 55 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2017

and 31 December 2017

100,000

AMORTISATION

At 1 January 2017

and 31 December 2017

100,000

NET BOOK VALUE

At 31 December 2017

-

At 31 December 2016

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST

At 1 January 2017

1,024,383

88,546

1,112,929

Additions

-

1,321

1,321

At 31 December 2017

1,024,383

89,867

1,114,250

DEPRECIATION

At 1 January 2017

-

64,011

64,011

Charge for year

-

5,164

5,164

At 31 December 2017

-

69,175

69,175

NET BOOK VALUE

At 31 December 2017

1,024,383

20,692

1,045,075

At 31 December 2016

1,024,383

24,535

1,048,918

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

67,686

38,278

Other debtors

306,418

303,492

Directors' accounts

31,070

20,883

Prepayments

9,074

9,719

414,248

372,372

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

8,027

30,933

Trade creditors

22,377

20,592

Corporation tax

1,975

26,457

Social security and other taxes

12,954

10,875

Other creditors

59,578

78,898

Accruals and deferred income

5,979

14,099

110,890

181,854

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 2-5 years

-

8,888

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

8,027

39,821

The bank loan owed to Royal Bank of Scotland is secured by a fixed charge over the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

3,667

4,506

Deferred

tax

£

Balance at 1 January 2017

4,506

Movement in year

(839

)

Balance at 31 December 2017

3,667

A deferred tax provision has arisen as a result of accelerated capital allowances.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

125

Ordinary

£1

125

125