Nightingale Business Management Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05097497 (England and Wales)

NIGHTINGALE BUSINESS MANAGEMENT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Hardwick

S Grayson

REGISTERED OFFICE:

The Turbine

Coach Close

Worksop

Nottinghamshire

S81 8AP

REGISTERED NUMBER:

05097497 (England and Wales)

FIXED ASSETS

Tangible assets

4

136,981

174,742

Investments

5

102

102

Investment property

6

90,000

771,720

227,083

946,564

CURRENT ASSETS

Debtors

7

114,722

108,290

Cash at bank and in hand

7,428

3,596

122,150

111,886

CREDITORS

Amounts falling due within one year

8

333,727

257,247

NET CURRENT LIABILITIES

(211,577

)

(145,361

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,506

801,203

CREDITORS

Amounts falling due after more than one year

9

-

196,093

NET ASSETS

15,506

605,110

CAPITAL AND RESERVES

Called up share capital

1,332

1,332

Revaluation reserve

11

13,919

159,622

Retained earnings

255

444,156

SHAREHOLDERS' FUNDS

15,506

605,110

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 January 2019 and were signed on its behalf by:

M A Hardwick - Director

1.	STATUTORY INFORMATION

Nightingale Business Management 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 as modified by the revaluation of certain assets.

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

Plant and machinery etc

-

25% on reducing balance and 15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

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

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.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Going concern

The directors consider the company to be a going concern as a result of their continuing support of it.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 May 2017

127,135

98,978

226,113

Disposals

-

(55,700

)

(55,700

)

At 30 April 2018

127,135

43,278

170,413

DEPRECIATION

At 1 May 2017

-

51,371

51,371

Charge for year

-

1,737

1,737

Eliminated on disposal

-

(19,676

)

(19,676

)

At 30 April 2018

-

33,432

33,432

NET BOOK VALUE

At 30 April 2018

127,135

9,846

136,981

At 30 April 2017

127,135

47,607

174,742

Cost or valuation at 30 April 2018 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Cost

127,135

43,278

170,413

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

Plant and

machinery

etc

£

COST OR VALUATION

At 1 May 2017

41,450

Disposals

(41,450

)

At 30 April 2018

-

DEPRECIATION

At 1 May 2017

10,686

Eliminated on disposal

(10,686

)

At 30 April 2018

-

NET BOOK VALUE

At 30 April 2018

-

At 30 April 2017

30,764

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2017

and 30 April 2018

102

NET BOOK VALUE

At 30 April 2018

102

At 30 April 2017

102

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

773,603

Disposals

(671,720

)

Revaluations

(10,000

)

At 30 April 2018

91,883

DEPRECIATION

At 1 May 2017

and 30 April 2018

1,883

NET BOOK VALUE

At 30 April 2018

90,000

At 30 April 2017

771,720

Fair value at 30 April 2018 is represented by:

£

Valuation in 2010

145,271

Valuation in 2012

56,363

Valuation in 2013

(42,013

)

Valuation in 2018

(143,819

)

Cost

76,081

91,883

If investment properties had not been revalued they would have been included at the following historical cost:

2018

2017

£

£

Cost

76,081

467,139

investment properties were valued on an open market basis on 22 September 2011 by Flint Ross Chartered Surveyors

.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

12,315

105,588

Amounts owed by group undertakings

45,000

-

Other debtors

57,407

2,702

114,722

108,290

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

27,119

Hire purchase contracts

-

11,733

Trade creditors

33,908

53,177

Amounts owed to group undertakings

-

145,001

Taxation and social security

8,602

14,423

Other creditors

291,217

5,794

333,727

257,247

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Bank loans

-

183,858

Hire purchase contracts

-

12,235

-

196,093

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

111,213

10.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

210,977

The bank overdraft is secured by way of mortgage deed in respect of various freehold properties held by the

company and by way of debenture representing a fixed and floating charge over the property and assets of the

company.

11.

RESERVES

Revaluation

reserve

£

At 1 May 2017

159,622

Property revaluation

(145,703

)

At 30 April 2018

13,919

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2018 and

30 April 2017:

2018

2017

£

£

M A Hardwick

Balance outstanding at start of year

35

(7,779

)

Amounts advanced

41,948

7,814

Amounts repaid

(41,990

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(7

)

35

S Grayson

Balance outstanding at start of year

(2,655

)

(8,638

)

Amounts advanced

42,138

5,983

Amounts repaid

(41,992

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(2,509

)

(2,655

)

During the year the company paid dividends of £32,000 (2017 : £45,000) to Mr M A Hardwick and £32,000

(2017 : £45,000) to Mr S Grayson.,

13.	RELATED PARTY DISCLOSURES

During the year the company made sales of £219,876, received rental income of £9,000 and management charges

of £59,500 (excluding vat) from a wholly owned subsidiary. At the year end the amount outstanding was £Nil

(2017 : £106,694).

Loans outstanding from a wholly owned subsidiary at the year end were £45,000 (2017 : £145,000, owed to a

wholly owned subsidiary).

During the year the company received dividends in the sum of £Nil (2017: £200,192) from wholly owned

subsidiaries.