Cholwell House Nursing Home Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04747378 (England and Wales)

Cholwell House Nursing Home Limited

Abridged Unaudited Financial Statements for the Year Ended 31 May 2018

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

T B Thompson

Mrs E M Thompson

Mrs J Tooze

Mrs M Knighton

Miss N Thompson

REGISTERED OFFICE:

4 King Square

Bridgwater

Somerset

TA6 3YF

REGISTERED NUMBER:

04747378 (England and Wales)

ACCOUNTANTS:

Maxwells

Chartered Accountants

4 King Square

Bridgwater

Somerset

TA6 3YF

BANKERS:

The Royal Bank of Scotland plc

Derby Cornmarket Branch

41 Cornmarket

Derby

DE1 2DG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

112,985

104,054

Investments

7

607,700

607,700

720,685

711,754

CURRENT ASSETS

Debtors

2,051,433

2,041,196

Cash at bank and in hand

406,250

309,095

2,457,683

2,350,291

CREDITORS

Amounts falling due within one year

401,607

467,791

NET CURRENT ASSETS

2,056,076

1,882,500

TOTAL ASSETS LESS CURRENT LIABILITIES

2,776,761

2,594,254

CREDITORS

Amounts falling due after more than one year

(563,855

)

(581,144

)

PROVISIONS FOR LIABILITIES

(16,810

)

(15,050

)

NET ASSETS

2,196,096

1,998,060

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

2,195,096

1,997,060

SHAREHOLDERS' FUNDS

2,196,096

1,998,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 May 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors on 12 September 2018 and were signed on its behalf by:

Mrs E M Thompson - Director

1.	STATUTORY INFORMATION

Cholwell 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

Straight line over 20 years

Plant and machinery etc

-

33% on cost and 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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2017 - 25 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

350,000

AMORTISATION

At 1 June 2017

and 31 May 2018

350,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

-

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

200,136

Additions

22,482

At 31 May 2018

222,618

DEPRECIATION

At 1 June 2017

96,082

Charge for year

13,551

At 31 May 2018

109,633

NET BOOK VALUE

At 31 May 2018

112,985

At 31 May 2017

104,054

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

Additions

22,482

At 31 May 2018

22,482

DEPRECIATION

Charge for year

3,372

At 31 May 2018

3,372

NET BOOK VALUE

At 31 May 2018

19,110

7.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 June 2017

and 31 May 2018

607,700

NET BOOK VALUE

At 31 May 2018

607,700

At 31 May 2017

607,700

The fixed asset investment relates to the company's interest held in a partnership, trading as Cholwell Care of

275 Wells Road, Knowle, Bristol, BS4 2PP.

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.18

31.5.17

£

£

Bank loans

580,181

605,352

Hire purchase contracts

15,092

-

595,273

605,352

The bank loan is secured by fixed and floating charges over the assets of the company.

The hire purchase contracts are secured by way of a fixed charge over the financed asset.

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2018 and

31 May 2017:

31.5.18

31.5.17

£

£

Mrs J Tooze

Balance outstanding at start of year

35,000

-

Amounts advanced

52,500

75,000

Amounts repaid

(50,000

)

(40,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

37,500

35,000

Mrs M Knighton

Balance outstanding at start of year

-

-

Amounts advanced

47,500

-

Amounts repaid

(10,000

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

37,500

-

10.	ULTIMATE CONTROLLING PARTY

The company was controlled during the current and previous period by its directors, Mr T B and Mrs E M

Thompson, by virtue of the fact that, between them, they own the majority of the company's issued share

capital.