Enhance Healthcare Centenary House Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC503530 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 December 2017

for

ENHANCE HEALTHCARE CENTENARY HOUSE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P G Mcniven

M Singh

REGISTERED OFFICE:

Barncluith Business Centre

Townhead Street

Hamilton

ML3 7DP

REGISTERED NUMBER:

SC503530 (Scotland)

ACCOUNTANTS:

WDM Associates

Oakfield House

378 Brandon Street

Motherwell

ML1 1XA

BANKERS:

The Royal Bank of Scotland

339 Byres Road

Glasgow

G12 8QP

FIXED ASSETS

Tangible assets

4

1,036,412

1,065,109

CURRENT ASSETS

Debtors

5

156,441

152,268

Cash in hand

701

173

157,142

152,441

CREDITORS

Amounts falling due within one year

6

141,626

106,792

NET CURRENT ASSETS

15,516

45,649

TOTAL ASSETS LESS CURRENT LIABILITIES

1,051,928

1,110,758

CREDITORS

Amounts falling due after more than one year

7

(532,724

)

(565,306

)

PROVISIONS FOR LIABILITIES

(2,871

)

(2,871

)

NET ASSETS

516,333

542,581

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

9

553,189

553,189

Retained earnings

(36,858

)

(10,610

)

SHAREHOLDERS' FUNDS

516,333

542,581

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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 28 September 2018 and were signed on its behalf by:

M Singh - Director

1.	STATUTORY INFORMATION

Enhance Healthcare Centenary House Ltd is a private company, limited by shares , registered in Scotland.

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.

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective January 2015).

Turnover

Turnover 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

-

4% on cost

Fixtures and fittings

-

15% on reducing balance

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 44 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

COST OR VALUATION

At 31 December 2016

1,050,000

15,987

1,065,987

Additions

-

17,357

17,357

At 30 December 2017

1,050,000

33,344

1,083,344

DEPRECIATION

At 31 December 2016

-

878

878

Charge for year

42,000

4,054

46,054

At 30 December 2017

42,000

4,932

46,932

NET BOOK VALUE

At 30 December 2017

1,008,000

28,412

1,036,412

At 30 December 2016

1,050,000

15,109

1,065,109

Cost or valuation at 30 December 2017 is represented by:

Fixtures

Freehold

and

property

fittings

Totals

£

£

£

Valuation in 2016

534,279

-

534,279

Cost

515,721

33,344

549,065

1,050,000

33,344

1,083,344

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

515,721

515,721

Aggregate depreciation

18,910

18,910

Value of land in freehold land and buildings

496,811

496,811

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

65,378

40,711

Inter-company loans

88,464

77,500

Directors' current accounts

820

-

Prepayments and accrued income

1,779

34,057

156,441

152,268

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

81,264

34,500

Inter-company loans

-

9,235

Trade creditors

14,823

20,852

Social security and other taxes

18,100

8,518

Other creditors

526

-

Directors' current accounts

-

1,330

Accrued expenses

26,913

32,357

141,626

106,792

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

32,464

32,464

Bank loans - 2-5 years

97,392

97,392

Bank loans more 5 yr by instal

402,868

435,450

532,724

565,306

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

402,868

435,450

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

48,800

2,036

Bank loans

565,188

597,770

613,988

599,806

The bank loan & overdraft are secured by:

- A bond & floating charge over the company assets

- An inter-company guarantee (including standard security over the care homes)

9.

RESERVES

Revaluation

reserve

£

At 31 December 2016

and 30 December 2017

553,189

10.	RELATED PARTY DISCLOSURES

Inter-company loans payable total £NIL (2016: £9,235).

Inter-company loans receivable total £88464 (2016: £77,500).

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Enhance Healthcare Holdings Ltd.