Edwardian Care Homes Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 03224641 (England and Wales)

Unaudited Financial Statements For The Year Ended 30th September 2017

for

Edwardian Care Homes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S M Hussain

SECRETARY:

Miss N Hussain

REGISTERED OFFICE:

Victoria House

14-26 Victoria Street

Luton

Bedfordshire

LU1 2UA

REGISTERED NUMBER:

03224641 (England and Wales)

ACCOUNTANTS:

Dua & Co. Limited

1st Floor

5 Century Court

Tolpits Lane

Watford

Hertfordshire

WD18 9PX

FIXED ASSETS

Property, plant and equipment

4

2,515,941

2,509,785

Investment property

5

5,388,137

4,764,400

7,904,078

7,274,185

CURRENT ASSETS

Inventories

600

600

Debtors

6

260,260

101,335

Cash at bank and in hand

205,727

125,412

466,587

227,347

CREDITORS

Amounts falling due within one year

7

(757,482

)

(529,170

)

NET CURRENT LIABILITIES

(290,895

)

(301,823

)

TOTAL ASSETS LESS CURRENT LIABILITIES

7,613,183

6,972,362

CREDITORS

Amounts falling due after more than one year

8

(2,892,500

)

(2,815,000

)

PROVISIONS FOR LIABILITIES

(313,768

)

(271,281

)

NET ASSETS

4,406,915

3,886,081

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Revaluation reserve

10

1,871,936

1,871,936

Retained earnings

2,533,979

2,013,145

SHAREHOLDERS' FUNDS

4,406,915

3,886,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 28th June 2018 and were signed by:

S M Hussain - Director

1.	STATUTORY INFORMATION

Edwardian Care Homes 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 as modified by the revaluation of certain assets.

Turnover

The total turnover of the company for the year has been derived from its principle activity wholly undertaken in the UK.

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

-

Depreciation over 5 years

Plant and machinery

-

15% on reducing balance

Freehold properties are included in the balance sheet at their open market value at the balance sheet date on the basis of an annual valuation.

All other fixed assets are held at historic purchase cost less accumulated depreciation. Cost will include the original purchase price of the asset

and the cost attributable to bringing the asset to its working condition for its intended use. The revaluation was performed for all properties at

30th September 2017.

Stocks

Inventories 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.

Investment properties

Investment properties are carried at fair value and revalued annually and the aggregate surplus or deficit is recognised in the income

statements. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

No depreciation or amortisation is provided in respect of freehold and long leasehold investment properties.

This treatment may be a departure from the requirements of the Companies Act concerning depreciation of fixed assets. However, these

properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be

inappropriate. The accounting policy adopted is therefore necessary for the accounts to give a true and fair view.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1st October 2016

2,500,000

53,107

2,553,107

Additions

-

8,488

8,488

At 30th September 2017

2,500,000

61,595

2,561,595

DEPRECIATION

At 1st October 2016

-

43,322

43,322

Charge for year

-

2,332

2,332

At 30th September 2017

-

45,654

45,654

NET BOOK VALUE

At 30th September 2017

2,500,000

15,941

2,515,941

At 30th September 2016

2,500,000

9,785

2,509,785

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st October 2016

4,764,400

Additions

400,115

Revaluations

223,622

At 30th September 2017

5,388,137

NET BOOK VALUE

At 30th September 2017

5,388,137

At 30th September 2016

4,764,400

Fair value at 30th September 2017 is represented by:

£

Valuation in 2017

5,388,137

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

16,217

28,282

Amounts owed by participating interests

239,115

69,360

Other debtors

4,928

3,693

260,260

101,335

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

100,000

90,000

Trade creditors

38,193

39,968

Amounts owed to participating interests

19,946

97,682

Taxation and social security

86,765

68,263

Other creditors

512,578

233,257

757,482

529,170

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

2,892,500

2,815,000

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

2,992,500

2,905,000

Bank loan and facilities are secured by a fixed and floating charges over the assets of the company.

The following properties are also secured by way of a fixed charge in favour of Santander UK Plc:

a) 2-4 Park Street

Luton

Bedfordshire

b) 1-5 Nursery Parade

Marsh Road

Leagrave

Luton

Bedfordshire

c) 10-12 Chapel Street

Luton

Bedfordshire

d) 168 & 170 Biscot Road

Luton

Bedfordshire

e) The Limes

Dunstable Street

Ampthill

10.

RESERVES

Revaluation

reserve

£

At 1st October 2016

and 30th September 2017

1,871,936

11.	RELATED PARTY DISCLOSURES

The company owed £19,946 (£97,682 : 2016) to Heritage Care Homes Limited and £5,770 (£5,710: 2016) is owed by Nadia Care Centre

Limited, £168,650 (£63,650: 2016) owed by Heritage Capital Ltd and £64,695 (£NIL: 2016) owed by Heritage National Properties Ltd. Mr S M

Hussain, a director is also an officer and shareholder in Heritage Care Homes Limited, Nadia Care Centre Limited, Heritage Capital Ltd and

Heritage National Properties Ltd.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director of the company Mr S. M. Hussain.

13.	DISTRIBUTABLE & NON-DISTRIBUTABLE PROFIT & LOSS RESERVES

£

P & L Distributable reserves

2,041,049

P & L Non - Distributable reserves

492,930

2,533,979

The Non - Distributable reserves relate to revaluation of Investment Property.