United Health Group Limited - Limited company accounts 18.2

UNITED HEALTH GROUP LIMITED - Company Information

IRIS Accounts Production v18.2.1.62 05766627 Board of Directors 31.1.18 1.2.17 31.1.18 31.1.18 care homes true false true true false false true false Ordinary 0 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure057666272017-01-31057666272018-01-31057666272017-02-012018-01-31057666272016-01-31057666272016-02-012017-01-31057666272017-01-3105766627ns15:EnglandWales2017-02-012018-01-3105766627ns14:PoundSterling2017-02-012018-01-3105766627ns10:Director12017-02-012018-01-3105766627ns10:Consolidated2018-01-3105766627ns10:ConsolidatedGroupCompanyAccounts2017-02-012018-01-3105766627ns10:PrivateLimitedCompanyLtd2017-02-012018-01-3105766627ns10:Consolidatedns10:FRS1022017-02-012018-01-3105766627ns10:Consolidatedns10:Audited2017-02-012018-01-3105766627ns10:SmallCompaniesRegimeForDirectorsReport2017-02-012018-01-3105766627ns10:SmallCompaniesRegimeForAccounts2017-02-012018-01-3105766627ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2017-02-012018-01-3105766627ns10:Consolidatedns10:LargeMedium-sizedCompaniesRegimeForAccounts2017-02-012018-01-3105766627ns10:FullAccounts2017-02-012018-01-3105766627ns10:OrdinaryShareClass12017-02-012018-01-3105766627ns10:OrdinaryShareClass112017-02-012018-01-3105766627ns10:Consolidated2017-02-012018-01-3105766627ns10:Director22017-02-012018-01-3105766627ns10:Director32017-02-012018-01-3105766627ns10:Director42017-02-012018-01-3105766627ns10:CompanySecretary12017-02-012018-01-3105766627ns10:RegisteredOffice2017-02-012018-01-3105766627ns10:Consolidated2016-02-012017-01-3105766627ns5:CurrentFinancialInstruments2018-01-3105766627ns5:CurrentFinancialInstruments2017-01-3105766627ns5:ShareCapital2018-01-3105766627ns5:ShareCapital2017-01-3105766627ns5:RetainedEarningsAccumulatedLosses2018-01-3105766627ns5:RetainedEarningsAccumulatedLosses2017-01-3105766627ns5:ShareCapital2016-01-3105766627ns5:RetainedEarningsAccumulatedLosses2016-01-3105766627ns5:RetainedEarningsAccumulatedLosses2016-02-012017-01-3105766627ns5:ShareCapital2017-02-012018-01-3105766627ns5:RetainedEarningsAccumulatedLosses2017-02-012018-01-3105766627ns5:NetGoodwill2017-02-012018-01-3105766627ns5:LandBuildingsns5:ShortLeaseholdAssets2017-02-012018-01-3105766627ns5:PlantMachinery2017-02-012018-01-3105766627ns5:FurnitureFittings2017-02-012018-01-3105766627ns5:MotorVehicles2017-02-012018-01-310576662712017-02-012018-01-3105766627ns5:ReportableOperatingSegment12017-02-012018-01-3105766627ns5:ReportableOperatingSegment12016-02-012017-01-3105766627ns5:ReportableOperatingSegment22017-02-012018-01-3105766627ns5:ReportableOperatingSegment22016-02-012017-01-3105766627ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2017-02-012018-01-3105766627ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount2016-02-012017-01-3105766627ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2017-02-012018-01-3105766627ns5:PlantEquipmentOtherAssetsUnderOperatingLeases2016-02-012017-01-3105766627ns5:OwnedAssets2017-02-012018-01-3105766627ns5:OwnedAssets2016-02-012017-01-3105766627ns5:NetGoodwill2016-02-012017-01-310576662712017-02-012018-01-310576662712016-02-012017-01-3105766627ns5:NetGoodwill2017-01-3105766627ns5:NetGoodwill2018-01-3105766627ns5:NetGoodwill2017-01-3105766627ns5:LandBuildings2017-01-3105766627ns5:LandBuildingsns5:ShortLeaseholdAssets2017-01-3105766627ns5:MotorVehicles2017-01-3105766627ns5:LandBuildings2017-02-012018-01-3105766627ns5:LandBuildings2018-01-3105766627ns5:LandBuildingsns5:ShortLeaseholdAssets2018-01-3105766627ns5:MotorVehicles2018-01-3105766627ns5:LandBuildings2017-01-3105766627ns5:LandBuildingsns5:ShortLeaseholdAssets2017-01-3105766627ns5:MotorVehicles2017-01-3105766627ns5:CostValuation2017-01-3105766627ns5:CurrentFinancialInstrumentsns5:WithinOneYear2018-01-3105766627ns5:CurrentFinancialInstrumentsns5:WithinOneYear2017-01-3105766627ns5:WithinOneYear2018-01-3105766627ns5:WithinOneYear2017-01-3105766627ns5:BetweenOneFiveYears2018-01-3105766627ns5:BetweenOneFiveYears2017-01-3105766627ns5:AllPeriods2018-01-3105766627ns5:AllPeriods2017-01-3105766627ns5:AcceleratedTaxDepreciationDeferredTax2018-01-3105766627ns5:AcceleratedTaxDepreciationDeferredTax2017-01-3105766627ns5:TaxLossesCarry-forwardsDeferredTax2018-01-3105766627ns5:TaxLossesCarry-forwardsDeferredTax2017-01-3105766627ns5:DeferredTaxation2017-01-3105766627ns5:DeferredTaxation2017-02-012018-01-3105766627ns5:DeferredTaxation2018-01-3105766627ns10:OrdinaryShareClass12018-01-31

REGISTERED NUMBER: 05766627 (England and Wales)

UNITED HEALTH GROUP LIMITED

GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

Page

Company Information

Group Strategic Report

Report of the Directors

Report of the Independent Auditors

Consolidated Income Statement

Consolidated Other Comprehensive Income

Consolidated Statement of Financial Position

Company Statement of Financial Position

Consolidated Statement of Changes in Equity

Company Statement of Changes in Equity

Consolidated Statement of Cash Flows

Notes to the Consolidated Statement of Cash Flows

Notes to the Consolidated Financial Statements

DIRECTORS:

Ms M T Cheriton-Metcalfe

C R Jackson

P J Pearson

I R Pullan

SECRETARY:

M I Brown

REGISTERED OFFICE:

The Old Coach House

Gainsborough Road

Drinsey Nook

Lincoln

Lincolnshire

LN1 2JJ

REGISTERED NUMBER:

05766627 (England and Wales)

SENIOR STATUTORY AUDITOR:

Timothy Godson FCA

AUDITORS:

Duncan & Toplis Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

The directors present their strategic report of the company and the group for the year ended 31 January 2018.

REVIEW OF BUSINESS

We aim to present a balanced and comprehensive review of the development and performance of our group business

during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our

business and is written in the context of the risks and uncertainties that we face.

We still consider the key performance indicators of the group to be those that communicate the financial

performance and strength of the company as a whole, these being turnover, profits before tax and net assets.

We are pleased to report a consistent level of turnover in the year at £12,139,946 compared to £12,226,802 in 2017.

This has been achieved in both the main trading companies, United Health Limited and Barford Children's Services

Limited.

Overall, the group has made an increased profit before tax of £1,887,920 compared to a profit of £1,648,208 in 2017.

The current economic conditions continue to provide an element of uncertainty over the level of funding available for

the types of services provided by the majority of the group.

Further details on individual company performance can be found in the strategic reports of the individual company

accounts.

In our opinion, the group will have sufficient resources available to manage its business risks and we expect that the

present level of activity will be sustained for the foreseeable future.

Position at the financial reporting date

The directors consider the group to be in a solid financial position at the financial position date, with accumulated

distributable reserves of approximately £2,800,000.

Management remains mindful of the competitive environment in which the group operates and the need to maintain

close control over the group's working capital and financial position.

Borrowings and Risk Management

The group's principal financial instruments comprise bank balances, bank loans, trade creditors and trade debtors. The

main purpose of these instruments is to raise funds for the group operations and capital investment. The group's

approach to managing other risks applicable to the financial instruments minimised the risk to a level that the

Directors consider acceptable.

Trade debtors are managed in respect of credit and cash flow risk by policies concerning the credit offered to

customers and the regular monitoring of amounts outstanding for both time and credit limits.

Trade creditors liquidity risk is managed by ensuring sufficient funds are available to meet amounts due.

PRINCIPAL RISKS AND UNCERTAINTIES

The group is affected by a number of factors, the principal ones of which are:

- The group is exposed to the risk of negative developments in financial markets and the sectors in which it operates,

either directly or through the impact on the group's bankers, suppliers or customers. These developments can result

in recession, inflation, deflation, restrictions in the availability of credit, impact on demand from customers, problems

in the supplier base, increases in financing costs or in the cost of utilities. Such developments might increase operating

costs, reduce revenues, lower asset values or result in the businesses being unable to meet in full its strategic

objectives.

- The group operates in a competitive market, and failure to compete effectively in terms of price and quality can have

an adverse effect on demand and / or margins.

The group mitigates risk in several ways:

- The group has in place an organisational structure with clearly defined lines of responsibility and delegation of

authority. There are established policies and procedures for the setting of corporate strategies; financial planning and

budgeting; for information and reporting systems; for systems of operational and financial internal control; for

assessment of risk; and for monitoring operations and performance.

- Management and staff at all levels work closely with customers and suppliers to operate as effectively and efficiently

as possible, whilst maintaining long term working relationships, innovation and good lines of communication.

- The group operates a recruitment and selection process to ensure employees are experienced and competent in

their work. The workforce is trained to be alert, responsive to customer needs, and to operate in line with the group's

corporate objectives.

FUTURE DEVELOPMENT

The group's strategy is to continue organic growth using the existing business model.

ON BEHALF OF THE BOARD:

P J Pearson - Director

28 September 2018

The directors present their report with the financial statements of the company and the group for the year ended

31 January 2018.

DIVIDENDS

No dividends will be distributed for the year ended 31 January 2018.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 February 2017 to the date of this

report.

Ms M T Cheriton-Metcalfe

C R Jackson

P J Pearson

I R Pullan

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial

statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the

directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted

Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors

must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of

affairs of the company and the group and of the profit or loss of the group for that period. In preparing these

financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the

company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the

company and the group and enable them to ensure that the financial statements comply with the Companies Act

2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking

reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies

Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to

have taken as a director in order to make himself or herself aware of any relevant audit information and to establish

that the group's auditors are aware of that information.

AUDITORS

The auditors, Duncan & Toplis Limited, Statutory Auditor, will be proposed for re-appointment at the forthcoming

Annual General Meeting.

ON BEHALF OF THE BOARD:

P J Pearson - Director

28 September 2018

Opinion

We have audited the financial statements of United Health Group Limited (the 'parent company') and its subsidiaries

(the 'group') for the year ended 31 January 2018 which comprise the Consolidated Income Statement, Consolidated

Other Comprehensive Income, Consolidated Statement of Financial Position, Company Statement of Financial

Position, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated

Statement of Cash Flows and Notes to the Consolidated Statement of Cash Flows, Notes to the Financial Statements,

including a summary of significant accounting policies. The financial reporting framework that has been applied in

their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard

102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally

Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the group's and of the parent company affairs as at 31 January 2018 and of the group's profit for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law.

Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the

financial statements section of our report. We are independent of the group in accordance with the ethical

requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard,

and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the

audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to

you where:

-	the directors' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or

the directors have not disclosed in the financial statements any identified material uncertainties that may cast
significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.

Other information

The directors are responsible for the other information. The other information comprises the information in the

Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report

of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of

assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in

doing so, consider whether the other information is materially inconsistent with the financial statements or our

knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have

performed, we conclude that there is a material misstatement of this other information, we are required to report

that fact. We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained

in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report

of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to

you if, in our opinion:

-	adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or

-	the parent company financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are

responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view,

and for such internal control as the directors determine necessary to enable the preparation of financial statements

that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent

company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using

the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company

or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with

ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and

are considered material if, individually or in the aggregate, they could reasonably be expected to influence the

economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial

Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of

the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the

Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those

matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent

permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's

members as a body, for our audit work, for this report, or for the opinions we have formed.

Timothy Godson FCA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Limited, Statutory Auditor

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

8 October 2018

TURNOVER

12,139,946

12,226,802

Cost of sales

8,078,194

8,232,640

GROSS PROFIT

4,061,752

3,994,162

Administrative expenses

2,005,437

2,200,709

2,056,315

1,793,453

Other operating income

172,162

241,524

OPERATING PROFIT

2,228,477

2,034,977

Interest payable and similar expenses

340,557

386,769

PROFIT BEFORE TAXATION

1,887,920

1,648,208

Tax on profit

338,531

339,591

PROFIT FOR THE FINANCIAL YEAR

1,549,389

1,308,617

Profit attributable to:

Owners of the parent

1,549,389

1,308,664

Non-controlling interests

(47

)

1,549,389

1,308,617

PROFIT FOR THE YEAR

1,549,389

1,308,617

OTHER COMPREHENSIVE INCOME

Tax relating other comprehensive income

80,621

45,968

Income tax relating to other comprehensive
income

OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

80,621

45,968

TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,630,010

1,354,585

Total comprehensive income attributable to:

Owners of the parent

1,630,010

1,354,632

Non-controlling interests

(47

)

1,630,010

1,354,585

FIXED ASSETS

Intangible assets

(2,060,546

)

(2,113,380

)

Tangible assets

30,703,162

29,941,036

Investments

28,642,616

27,827,656

CURRENT ASSETS

Stocks

1,948,187

2,264,120

Debtors

916,606

955,104

Cash at bank and in hand

412,776

647,519

3,277,569

3,866,743

CREDITORS

Amounts falling due within one year

6,119,331

8,621,059

NET CURRENT LIABILITIES

(2,841,762

)

(4,754,316

)

TOTAL ASSETS LESS CURRENT LIABILITIES

25,800,854

23,073,340

CREDITORS

Amounts falling due after more than one
year

(14,859,959

)

(13,673,329

)

PROVISIONS FOR LIABILITIES

(1,753,275

)

(1,842,405

)

NET ASSETS

9,187,620

7,557,606

CAPITAL AND RESERVES

Called up share capital

904

900

Revaluation reserve

6,387,543

6,306,922

Retained earnings

2,812,358

1,262,969

SHAREHOLDERS' FUNDS

9,200,805

7,570,791

NON-CONTROLLING INTERESTS

(13,185

)

(13,185

)

TOTAL EQUITY

9,187,620

7,557,606

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its

behalf by:

P J Pearson - Director

FIXED ASSETS

Intangible assets

Tangible assets

1,893,033

1,906,073

Investments

9,203,483

11,096,516

11,109,556

CURRENT ASSETS

Stocks

125,000

Debtors

76,594

166,234

Cash at bank

9,660

105,187

86,254

396,421

CREDITORS

Amounts falling due within one year

9,486,563

9,677,056

NET CURRENT LIABILITIES

(9,400,309

)

(9,280,635

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,696,207

1,828,921

PROVISIONS FOR LIABILITIES

1,333

NET ASSETS

1,696,165

1,827,588

CAPITAL AND RESERVES

Called up share capital

904

900

Retained earnings

1,695,261

1,826,688

SHAREHOLDERS' FUNDS

1,696,165

1,827,588

Company's (loss)/profit for the financial
year

(131,427

)

108,878

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 28 September 2018 and were signed on its
behalf by:

P J Pearson - Director

Called up

Retained

Revaluation

capital

earnings

reserve

Balance at 1 February 2016

900

(45,695

)

6,260,954

Changes in equity

Total comprehensive income

1,308,664

45,968

Balance at 31 January 2017

900

1,262,969

6,306,922

Changes in equity

Issue of share capital

Total comprehensive income

1,549,389

80,621

Balance at 31 January 2018

904

2,812,358

6,387,543

Non-controlling

Total

interests

equity

Balance at 1 February 2016

6,216,159

(13,138

)

6,203,021

Changes in equity

Total comprehensive income

1,354,632

(47

)

1,354,585

Balance at 31 January 2017

7,570,791

(13,185

)

7,557,606

Changes in equity

Issue of share capital

Total comprehensive income

1,630,010

Balance at 31 January 2018

9,200,805

(13,185

)

9,187,620

Called up

Retained

Total

capital

earnings

equity

Balance at 1 February 2016

900

1,717,810

1,718,710

Changes in equity

Total comprehensive income

108,878

Balance at 31 January 2017

900

1,826,688

1,827,588

Changes in equity

Issue of share capital

Total comprehensive income

(131,427

)

(131,427

)

Balance at 31 January 2018

904

1,695,261

1,696,165

Cash flows from operating activities

Cash generated from operations

2,541,157

2,938,318

Interest paid

(340,557

)

(386,769

)

Tax paid

(96,801

)

Taxation refund

834

Interest paid

122

Net cash from operating activities

2,103,799

2,552,505

Cash flows from investing activities

Purchase of tangible fixed assets

(1,062,581

)

(334,229

)

Sale of tangible fixed assets

20,973

821,265

Net cash from investing activities

(1,041,608

)

487,036

Cash flows from financing activities

New loans in year

2,810,000

16,708

Loan repayments in year

(1,569,285

)

(2,853,060

)

Amount introduced by directors

3,847,445

Amount withdrawn by directors

(6,391,916

)

Share issue

Net cash from financing activities

(1,303,752

)

(2,836,352

)

(Decrease)/increase in cash and cash equivalents

(241,561

)

203,189

Cash and cash equivalents at beginning of
year

643,826

440,637

Cash and cash equivalents at end of year

402,265

643,826

1.	RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

2018

2017

Profit before taxation

1,887,920

1,648,208

Depreciation charges

226,605

207,240

Loss on disposal of fixed assets

195,312

Finance costs

340,557

386,769

2,455,125

2,437,529

Decrease in stocks

315,933

538,709

Decrease/(increase) in trade and other debtors

7,033

(16,151

)

Decrease in trade and other creditors

(236,934

)

(21,769

)

Cash generated from operations

2,541,157

2,938,318

2.	CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect

of these Statement of Financial Position amounts:

Year ended 31 January 2018

31.1.18

1.2.17

Cash and cash equivalents

412,776

647,519

Bank overdrafts

(10,511

)

(3,693

)

402,265

643,826

Year ended 31 January 2017

31.1.17

1.2.16

Cash and cash equivalents

647,519

444,447

Bank overdrafts

(3,693

)

(3,810

)

643,826

440,637

1.	STATUTORY INFORMATION

United Health Group 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 General 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 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.

Basis of consolidation

The group financial statements consolidate the financial statements of United Health Group Limited and the

entities it controls (its subsidiaries) drawn up to 31 January each year. Control comprises the power to govern

the financial and operating policies of the investee via control of the issued share capital of those companies.

Subsidiaries are consolidated from the date of their acquisition, being the date on which the group obtains

control, and continue to be consolidated until the date that such control ceases.

The financial statements of subsidiaries are prepared for the same reporting year as the parent company, using

consistent accounting policies.

Subsidiaries acquired during the year are consolidated under the acquisition method of accounting, whereby

underlying assets and liabilities, and the consideration paid, are recorded at their fair values. The deficit of the

fair value of consideration paid less than the fair value of net assets acquired is presented as negative

consolidation goodwill.

Intercompany balances and transactions, including unrealised profits arising from intragroup transactions,

have been eliminated.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the

financial statements.

Significant judgements and estimates

In the application of the Group's accounting policies, management is required to make judgements, estimates

and assumptions about the carrying value of assets and liabilities that are not readily apparent from other

sources. The estimates and underlying 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 key sources of estimation uncertainty that have a significant effect on the amounts recognised in the

financial statements are described below:

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic

lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually.

They are amended when necessary to reflect current estimates, based on technological advancement, future

investments, economic utilisation and the physical condition of the assets. See note 10 for the carrying amount

of property, plant and equipment, and accounting policy note for the useful economic lives for each class of

assets.

Turnover

Turnover represents amounts charged to customers for goods and services provided during the year, excluding

value added tax. Revenue is recognised in the period in which services are performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of fifty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

Straight line over remainder of lease

Plant and machinery

25% on cost

Fixtures and fittings

25% on cost and 20% on cost

Motor vehicles

25% on cost

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance

for obsolete and slow moving items.

Financial instruments

The group has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at

transaction price, unless the arrangement constitute a financing transaction, where the transaction is

measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective

evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying

amount and the present value of the estimated cash flows discounted at the asset's original effective interest

rate. The impairment loss is recognised in the income statement.

Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies

and preference shares that are classified as debt, are initially recognised at transaction price, unless the

arrangement constitutes a financing transaction, where the debt instrument is measured at the present value

of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of

business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year

or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at

transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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 statement of financial

position date. 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 the income statement over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to income statement on a straight line basis over the period of

the lease.

Pension costs and other post-retirement benefits

The group operates a defined contribution pension scheme. Contributions payable to the group's pension

scheme are charged to income statement in the period to which they relate.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs.

Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

If an arrangement constitutes a finance transaction it is measured at present value.

TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2018

2017

Sale of goods

443,356

740,620

Rendering of services

11,696,590

11,486,182

12,139,946

12,226,802

4.	EMPLOYEES AND DIRECTORS

2018

2017

Wages and salaries

6,437,410

6,425,525

Social security costs

407,950

407,567

Other pension costs

55,127

64,581

6,900,487

6,897,673

The average number of employees during the year was as follows:

2018

2017

Administrative staff

Management staff

Nursing

426

459

436

474

The average number of employees by undertakings that were proportionately consolidated during the year

was 436 (2017 - 474 ) .

2018

2017

Directors' remuneration

197,833

224,848

Directors' pension contributions to money purchase schemes

10,171

10,479

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes

5.	OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2018

2017

Hire of plant and machinery

16,829

4,162

Other operating leases

126,698

128,238

Depreciation - owned assets

279,439

260,074

Loss on disposal of fixed assets

195,312

Goodwill amortisation

(52,834

)

(52,834

)

Auditors' remuneration

18,500

15,500

INTEREST PAYABLE AND SIMILAR EXPENSES

2018

2017

Bank loan interest

340,557

386,769

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

2018

2017

Current tax:

UK corporation tax

319,463

100,689

Adjustment re previous years

(3,888

)

Total current tax

315,575

100,689

Deferred tax

22,956

238,902

Tax on profit

338,531

339,591

Reconciliation of total tax charge included in profit and loss

The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is

explained below:

2018

2017

Profit before tax

1,887,920

1,648,208

Profit multiplied by the standard rate of corporation tax in the UK of 19%
(2017 - 20%)

358,705

329,642

Effects of:

Expenses not deductible for tax purposes

(9,446

)

(8,681

)

Capital allowances in excess of depreciation

(32,491

)

(6,777

)

Utilisation of tax losses

(217,413

)

Adjustments to tax charge in respect of previous periods

(3,888

)

Difference between rates of tax

2,695

Losses carried forward

Deferred tax

22,956

238,902

Underprovided

3,886

Total tax charge

338,531

339,591

Tax effects relating to effects of other comprehensive income

2018

Gross

Tax

Net

Tax relating other comprehensive income

80,621

2017

Gross

Tax

Net

Tax relating other comprehensive income

45,968

8.	INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not

presented as part of these financial statements.

9.	INTANGIBLE FIXED ASSETS

Group

Goodwill

COST

At 1 February 2017

and 31 January 2018

(2,641,720

)

AMORTISATION

At 1 February 2017

(528,340

)

Amortisation for year

(52,834

)

At 31 January 2018

(581,174

)

NET BOOK VALUE

At 31 January 2018

(2,060,546

)

At 31 January 2017

(2,113,380

)

The company has no intangible assets.

10.	TANGIBLE FIXED ASSETS

Group

Freehold

Short

Plant and

property

leasehold

machinery

COST

At 1 February 2017

29,362,551

99,030

20,500

Additions

840,291

331

At 31 January 2018

30,202,842

99,030

20,831

DEPRECIATION

At 1 February 2017

50,307

9,375

Charge for year

20,161

5,208

Eliminated on disposal

At 31 January 2018

70,468

14,583

NET BOOK VALUE

At 31 January 2018

30,202,842

28,562

6,248

At 31 January 2017

29,362,551

48,723

11,125

Fixtures

and

Motor

fittings

vehicles

Totals

COST

At 1 February 2017

1,422,818

305,881

31,210,780

Additions

191,591

30,368

1,062,581

Disposals

(7,973

)

(18,453

)

(26,426

)

At 31 January 2018

1,606,436

317,796

32,246,935

DEPRECIATION

At 1 February 2017

1,022,496

187,566

1,269,744

Charge for year

199,772

54,298

279,439

Eliminated on disposal

(5,410

)

(5,410

)

At 31 January 2018

1,222,268

236,454

1,543,773

NET BOOK VALUE

At 31 January 2018

384,168

81,342

30,703,162

At 31 January 2017

400,322

118,315

29,941,036

Included within the above is investment property as follows:

At 1 February 2017

3,898,432

Additions

Disposals

At 31 January 2018

3,898,432

The valuation of freehold investment property as at 31 January 2018 has not been undertaken by an

independent valuer.

Freehold investment property was valued on 20 August 2014 by Bruton Knowles, an independent valuer with a

recognised and relevant professional qualification and with recent experience in the location and category of

the investment property being valued. The valuation was performed on the basis of open market value in

accordance with the Appraisal and Valuation Manual of the Royal Institute of Chartered Surveyors.

The directors do not believe that the value is materially different at the year end.

The original cost of freehold investment property is £3,053,775 for the group.

Company

Freehold

Short

Motor

property

leasehold

vehicles

Totals

COST

At 1 February 2017

1,842,729

99,030

19,495

1,961,254

Additions

19,628

Disposals

(7,633

)

(7,633

)

At 31 January 2018

1,842,729

99,030

31,490

1,973,249

DEPRECIATION

At 1 February 2017

50,307

4,874

55,181

Charge for year

20,161

4,874

25,035

At 31 January 2018

70,468

9,748

80,216

NET BOOK VALUE

At 31 January 2018

1,842,729

28,562

21,742

1,893,033

At 31 January 2017

1,842,729

48,723

14,621

1,906,073

Included within the above is investment property as follows:

At 1 February 2017

1,842,729

Additions

Disposals

At 31 January 2018

1,842,729

The valuation of freehold investment property as at 31 January 2018 has not been undertaken by an

independent valuer.

Freehold investment property was valued on 20 August 2014 by Bruton Knowles, an independent valuer with a

recognised and relevant professional qualification and with recent experience in the location and category of

the investment property being valued. The valuation was performed on the basis of open market value in

accordance with the Appraisal and Valuation Manual of the Royal Institute of Chartered Surveyors.

The directors do not believe that the value is materially different at the year end.

The original cost of freehold investment property is £1,733,767 for the company.

11.	FIXED ASSET INVESTMENTS

Company

Shares in

group

undertakings

COST

At 1 February 2017

and 31 January 2018

9,203,483

NET BOOK VALUE

At 31 January 2018

9,203,483

At 31 January 2017

9,203,483

Country of
incorporation

Holding

Proportion of
shares held

Nature of business

United Health Limited

England

Ordinary
shares

100%

Operation of care homes

Through its investment in United Health Limited, the following are indirectly held subsidiary companies. The

Holding shown below is that held by United Health Limited:

Country of
incorporation

Holding

Proportion of
shares held

Nature of business

Manor Homes (Yorkshire)
Limited

England

Ordinary
shares

100%

Property development

Barford Children's Services
Limited

England

Ordinary
shares

100%

Education and social care

United Children's Services
Limited

England

Ordinary
shares

100%

Dormant

Through it's indirect investment in Barford Children Services Limited, the following are indirectly held

subsidiary companies. The holding show below is that held by Barford Children's Services Limited:

Country of
incorporation

Holding

Proportion of
shares held

Nature of business

Creative Care & Therapy Limited

England

Ordinary
shares

70%

Holding company

Barford Care Holdings Limited and Barford Park House Limited have both been dissolved during the year.

12.

STOCKS

Group

Company

2018

2017

2018

2017

Stocks

1,948,187

2,139,120

Work-in-progress

125,000

1,948,187

2,264,120

125,000

Stocks recognised as an expense in the period were £315,933 (2017 - £538,709).

13.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2018

2017

2018

2017

Trade debtors

608,235

555,152

18,149

9,637

Amounts owed by group undertakings

367

Other debtors

104,654

183,155

58,078

153,597

Deferred tax asset

177,535

209,000

Prepayments and accrued income

26,182

7,797

3,000

916,606

955,104

76,594

166,234

14.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group

Company

2018

2017

2018

2017

Bank loans and overdrafts (see note 16)

1,192,389

1,131,486

Trade creditors

86,420

126,081

4,570

Amounts owed to group undertakings

5,619,902

3,194,082

Taxation

319,463

100,689

25,898

Other taxes and social security

67,589

145,701

342

55,283

Other creditors

185,993

241,538

Directors' current accounts

4,182,304

6,726,775

3,849,426

6,358,884

Accruals and deferred income

85,173

148,789

16,893

38,339

6,119,331

8,621,059

9,486,563

9,677,056

15.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Group

2018

2017

Bank loans (see note 16)

14,859,959

13,673,329

16.

LOANS

An analysis of the maturity of loans is given below:

Group

2018

2017

Amounts falling due within one year or on

demand:

Bank overdrafts

10,511

3,693

Bank loans

1,181,878

1,127,793

1,192,389

1,131,486

Amounts falling due between two and five

years:

Bank loans - 2-5 years

6,353,521

4,735,822

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

8,506,438

8,937,507

17.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group

Non-cancellable operating

leases

2018

2017

Within one year

125,950

Between one and five years

33,671

159,621

285,571

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

2018

2017

Not later than 1 year

32,130

Later than 1 year and not later than 5 years

128,520

Later than 5 years

21,420

182,070

Company

Non-cancellable operating

leases

2018

2017

Within one year

18,000

Between one and five years

7,500

25,500

43,500

As lessor

The total future minimum lease payments receivable under non-cancellable operating leases are as follows:

2018

2017

Not later than 1 year

32,130

Later than 1 year and not later than 5 years

128,520

Later than 5 years

21,420

182,070

18.	SECURED DEBTS

The following secured debts are included within creditors:

Group

2018

2017

Bank overdrafts

10,511

3,693

Bank loans

16,041,837

14,801,122

16,052,348

14,804,815

Bank borrowings are secured by legal charges over the group's freehold property and by a debenture over all

assets of the group.

19.	FINANCIAL INSTRUMENTS

The group has the following financial instruments:

2018

2017

Financial assets that are debt instruments at amortised cost

Trade debtors

608,235

555,152

Other debtors

104,654

183,155

Financial liabilities measured at amortised cost

Bank loans and overdrafts

16,052,345

14,804,815

Trade creditors

86,420

126,081

Other creditors

185,993

241,538

Directors' current accounts

4,182,304

6,726,775

The total interest income and interest expense for financial assets and financial liabilities that are not

measured at fair value through the income statement is £Nil (2017: £Nil) and £340,557 (2017: £386,769).

The company has the following financial instruments:

2018

2017

Financial assets that are debt instruments at amortised cost

Trade debtors

18,149

9,637

Other debtors

58,078

153,597

Financial liabilities measured at amortised cost

Trade creditors

4,570

Directors' current accounts

3,849,426

6,358,884

Amounts owed to group undertakings

5,619,902

3,194,082

The total interest income and interest expense for financial assets and financial liabilities that are not

measured at fair value through the income statement is £Nil (2017: £Nil) and £Nil (2017: £Nil).

20.	PROVISIONS FOR LIABILITIES

Group

Company

2018

2017

2018

2017

Deferred tax

Accelerated capital allowances

14,526

(99,034

)

1,333

Tax losses carried forward

(130,469

)

Other timing differences

1,869,218

1,941,439

1,753,275

1,842,405

1,333

Group

Deferred

tax

Balance at 1 February 2017

1,842,405

Credit to Income Statement during year

(89,130

)

Balance at 31 January 2018

1,753,275

Company

Deferred

tax

Balance at 1 February 2017

1,333

Credit to Income Statement during year

(1,291

)

Balance at 31 January 2018

21.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

90,400

Ordinary

£0.01

904

900

400 Ordinary shares of £0.01 each were allotted and fully paid for cash at par during the year.

22.

RESERVES

Group

Retained

Revaluation

earnings

reserve

Totals

At 1 February 2017

1,262,969

6,306,922

7,569,891

Profit for the year

1,549,389

Transfer

80,621

At 31 January 2018

2,812,358

6,387,543

9,199,901

23.	CONTINGENT LIABILITIES

The company is a party to a composite cross guarantee given to the HSBC Bank Plc between United Health

Limited, Manor Homes (Yorkshire) Limited, United Health Group Limited, Barford Children's Services Limited,

Creative Care & Therapy Limited and United Children's Services Limited (formerly United Health (Medicare)

Limited.

24.	CAPITAL COMMITMENTS

2018

2017

Contracted but not provided for in the

financial statements

729,000

25.	RELATED PARTY DISCLOSURES

Key management personnel of the entity or its parent (in the aggregate)

2018

2017

Sales

250,000

Purchases

12,000

Rental charges

18,000

Other related parties

2018

2017

Loan provided

115,914

Amount due to related party

115,914