Cholwell House Nursing Home Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04747378 (England and Wales)

Cholwell House Nursing Home Limited

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

T B Thompson

Mrs E M Thompson

Mrs J Tooze

Mrs M Knighton

SECRETARY:

T B 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

2

-

-

Tangible assets

3

87,963

51,031

Investments

4

607,700

607,700

695,663

658,731

CURRENT ASSETS

Debtors

1,657,717

1,434,921

Cash at bank and in hand

37,665

99,974

1,695,382

1,534,895

CREDITORS

Amounts falling due within one year

196,392

143,656

NET CURRENT ASSETS

1,498,990

1,391,239

TOTAL ASSETS LESS CURRENT LIABILITIES

2,194,653

2,049,970

CREDITORS

Amounts falling due after more than one year

5

(677,768

)

(689,835

)

PROVISIONS FOR LIABILITIES

(16,924

)

(9,390

)

NET ASSETS

1,499,961

1,350,745

CAPITAL AND RESERVES

Called up share capital

6

1,000

1,000

Profit and loss account

1,498,961

1,349,745

SHAREHOLDERS' FUNDS

1,499,961

1,350,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 20 October 2014 and were signed on its behalf by:

Mrs E M Thompson - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared in accordance with applicable accounting standards and estimation

techniques.

Accounting convention

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

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

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.

Tangible fixed assets

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

Property improvements

-

Straight line over 20 years

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

350,000

AMORTISATION

At 1 June 2013

and 31 May 2014

350,000

NET BOOK VALUE

At 31 May 2014

-

At 31 May 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

104,558

Additions

47,318

At 31 May 2014

151,876

DEPRECIATION

At 1 June 2013

53,527

Charge for year

10,386

At 31 May 2014

63,913

NET BOOK VALUE

At 31 May 2014

87,963

At 31 May 2013

51,031

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 June 2013

and 31 May 2014

607,700

NET BOOK VALUE

At 31 May 2014

607,700

At 31 May 2013

607,700

5.

CREDITORS

Creditors include an amount of £ 652,038 (31.5.13 - £ 689,835 ) for which security has been given.

They also include the following debts falling due in more than five years:

31.5.14

31.5.13

£

£

Repayable by instalments

652,038

689,835

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

500

Ordinary

£1

500

500

500

'A' Ordinary

£1

500

500

1,000

1,000

The Ordinary shares and 'A' Ordinary shares shall rank pari passu in all respects.

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2014 and

31 May 2013:

31.5.14

31.5.13

£

£

Mrs E M Thompson and T B Thompson

Balance outstanding at start of year

47,161

35,154

Amounts advanced

50,778

62,007

Amounts repaid

(170,000

)

(50,000

)

Balance outstanding at end of year

(72,061

)

47,161

Mrs M Knighton

Balance outstanding at start of year

2,750

6,000

Amounts repaid

(2,750

)

(3,250

)

Balance outstanding at end of year

-

2,750