Salix Care Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06174126 (England and Wales)

SALIX CARE LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

9

DIRECTORS:

Mrs J A Roberts

Mr D K Roberts

SECRETARY:

Mrs J A Roberts

REGISTERED OFFICE:

Atelier B1

The Old Brewery

Lodway

Pill

Bristol

BS20 0DH

REGISTERED NUMBER:

06174126 (England and Wales)

ACCOUNTANTS:

Pinstripe

Atelier B1

The Old Brewery

Lodway

Pill

Bristol

BS20 0DH

FIXED ASSETS

Intangible assets

4

3,000

7,000

Tangible assets

5

524,648

536,602

527,648

543,602

CURRENT ASSETS

Stocks

6

3,845

3,482

Debtors

7

796,236

723,277

Cash at bank

35,515

29,318

835,596

756,077

CREDITORS

Amounts falling due within one year

8

235,336

252,072

NET CURRENT ASSETS

600,260

504,005

TOTAL ASSETS LESS CURRENT LIABILITIES

1,127,908

1,047,607

CREDITORS

Amounts falling due after more than one year

9

(175,289

)

(191,377

)

PROVISIONS FOR LIABILITIES

11

(1,075

)

(1,013

)

NET ASSETS

951,544

855,217

CAPITAL AND RESERVES

Called up share capital

200

200

Other reserves

(71,116

)

(87,015

)

Retained earnings

1,022,460

942,032

SHAREHOLDERS' FUNDS

951,544

855,217

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

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 7 December 2018 and were signed on its behalf by:

Mrs J A Roberts - Director

1.	STATUTORY INFORMATION

Salix Care 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.

Turnover and revenue recognition

Turnover represents the revenue generated from the sale of services. Revenue is measured at the fair value of the

consideration received and receivable excluding value added tax.

Revenue from services is recognised when services have been provided and the contractual right to the

consideration has been earned.

Goodwill

Goodwill in connection with the acquisition of a business was purchased on 20 January 2014, it will be

amortised evenly over it's estimated useful life of five 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.

Freehold property

-

2% on cost

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks

Stocks 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 Profit and Loss Account,

except to the extent that it relates to items recognised 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 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.

Financial instruments

Financial liabilities and equity instruments are classified and accounted for according to the substance of

contractual arrangements, as financial assets, financial liabilities or equity instruments. An equity instrument is

any contract that evidences a residual interest in the assets of the entity after deducting all of its financial

liabilities.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 29 (2017 - 29 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

20,000

AMORTISATION

At 1 April 2017

13,000

Amortisation for year

4,000

At 31 March 2018

17,000

NET BOOK VALUE

At 31 March 2018

3,000

At 31 March 2017

7,000

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1 April 2017

572,238

5,000

13,459

Additions

-

-

5,449

At 31 March 2018

572,238

5,000

18,908

DEPRECIATION

At 1 April 2017

47,496

1,596

9,701

Charge for year

11,445

500

4,188

At 31 March 2018

58,941

2,096

13,889

NET BOOK VALUE

At 31 March 2018

513,297

2,904

5,019

At 31 March 2017

524,742

3,404

3,758

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2017

12,857

5,825

609,379

Additions

2,549

-

7,998

At 31 March 2018

15,406

5,825

617,377

DEPRECIATION

At 1 April 2017

8,544

5,440

72,777

Charge for year

3,434

385

19,952

At 31 March 2018

11,978

5,825

92,729

NET BOOK VALUE

At 31 March 2018

3,428

-

524,648

At 31 March 2017

4,313

385

536,602

6.

STOCKS

2018

2017

£

£

Stocks

3,845

3,482

7.

DEBTORS

2018

2017

£

£

Amounts falling due within one year:

Trade debtors

11,933

13,564

Other debtors

609,419

550,728

621,352

564,292

Amounts falling due after more than one year:

Other debtors

174,884

158,985

Aggregate amounts

796,236

723,277

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

27,637

27,637

Trade creditors

6,620

8,667

Taxation and social security

29,884

14,350

Other creditors

171,195

201,418

235,336

252,072

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

175,289

191,377

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

202,926

219,014

The bank loans are secured by fixed and floating charges over the assets of the company.

11.	PROVISIONS FOR LIABILITIES

2018

2017

£

£

Deferred tax

1,075

1,013

Deferred

tax

£

Balance at 1 April 2017

1,013

Accelerated capital allowances

62

Balance at 31 March 2018

1,075

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Other than movements on the directors loan accounts there were no other transactions with the directors in the

period.

13.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2017 - £100,000) were paid to the directors .

14.	OTHER RESERVES

The amount shown in other reserves is a measurement adjustment in relation to a loan granted by the company to

a related party at an interest rate below market value.

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 Balance Sheet. 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 Salix Care Limited for the year ended 31 March 2018 which comprise the Profit and Loss

Account, the Balance Sheet, 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 Chartered Institute of Management Accountants, we are subject to its ethical and

other professional requirements which are detailed at http://www.cimaglobal.com.

This report is made solely to the directors of Salix Care Limited in accordance with the terms of our engagement letter.

Our work has been undertaken solely to prepare for your approval of the financial statements of Salix Care Limited and

state those matters that we have agreed to state to the director of Salix Care Limited in this report in accordance with the

requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

director for our work or for this report.

It is your duty to ensure that Salix Care 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 Salix Care Limited. You

consider that Salix Care 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 Salix Care 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.

Pinstripe

Atelier B1

The Old Brewery

Lodway

Pill

Bristol

BS20 0DH

Date: .............................................