Absolute Care (Wales) Ltd - Filleted accounts

Absolute Care (Wales) Ltd
Registered number:		06342103
Balance Sheet
as at 31 August 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		98,425			105,440

Current assets
Debtors	3	31,453			27,735
Cash at bank and in hand		62,765			52,409
		94,218			80,144

Creditors: amounts falling due within one year	4	(129,640)			(110,001)

Net current liabilities			(35,422)			(29,857)

Total assets less current liabilities			63,003			75,583

Creditors: amounts falling due after more than one year	5		(57,426)			(63,609)

Provisions for liabilities			(1,705)			(2,105)


Net assets			3,872			9,869

Capital and reserves
Called up share capital			7			7
Profit and loss account			3,865			9,862

Shareholders' funds			3,872			9,869

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




K Best
Director
Approved by the board on 31 May 2017

Absolute Care (Wales) Ltd
Notes to the Accounts
for the year ended 31 August 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the provision of services.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 40 years

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 September 2015	127,000		11,854		138,854
	At 31 August 2016	127,000		11,854		138,854

	Depreciation
	At 1 September 2015	21,560		11,854		33,414
	Charge for the year	7,015		-		7,015
	At 31 August 2016	28,575		11,854		40,429

	Net book value
	At 31 August 2016	98,425		-		98,425
	At 31 August 2015	105,440		-		105,440


3	Debtors			2016		2015
£					£

	Trade debtors			31,453		24,630
	Other debtors			-		3,105
				31,453		27,735


4	Creditors: amounts falling due within one year			2016		2015
£					£

	Bank loans and overdrafts			7,497		7,497
	Trade creditors			5,003		1,489
	Corporation tax			18,438		14,139
	Other taxes and social security costs			3,180		6,728
	Other creditors			95,522		80,148
				129,640		110,001


5	Creditors: amounts falling due after one year			2016		2015
£					£

	Bank loans			57,426		63,609


6	Loans			2016		2015
£					£
	Creditors include:

	Secured bank loans			64,923		71,106

	The directors have provided personal guarantees against the secured bank loans.


7	Other information

	Absolute Care (Wales) Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is:
	The Old Bakery, 162 Donald Street
	Roath
	Cardiff
	South Glamorgan
	CF24 4TP