Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31No description of principal activitytruetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2016-01-01Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings. 04702783 2016-01-01 2016-12-31 04702783 2016-12-31 04702783 2015-12-31 04702783 c:Director1 2016-01-01 2016-12-31 04702783 c:RegisteredOffice 2016-01-01 2016-12-31 04702783 d:Buildings 2016-01-01 2016-12-31 04702783 d:Buildings 2016-12-31 04702783 d:Buildings 2015-12-31 04702783 d:Buildings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04702783 d:LandBuildings 2016-12-31 04702783 d:LandBuildings 2015-12-31 04702783 d:MotorVehicles 2016-01-01 2016-12-31 04702783 d:MotorVehicles 2016-12-31 04702783 d:MotorVehicles 2015-12-31 04702783 d:MotorVehicles d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04702783 d:FurnitureFittings 2016-01-01 2016-12-31 04702783 d:FurnitureFittings 2016-12-31 04702783 d:FurnitureFittings 2015-12-31 04702783 d:FurnitureFittings d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04702783 d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 04702783 d:Goodwill 2016-12-31 04702783 d:Goodwill 2015-12-31 04702783 d:CurrentFinancialInstruments 2016-12-31 04702783 d:CurrentFinancialInstruments 2015-12-31 04702783 d:Non-currentFinancialInstruments 2016-12-31 04702783 d:Non-currentFinancialInstruments 2015-12-31 04702783 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 04702783 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 04702783 d:Non-currentFinancialInstruments d:AfterOneYear 2016-12-31 04702783 d:Non-currentFinancialInstruments d:AfterOneYear 2015-12-31 04702783 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2016-12-31 04702783 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2015-12-31 04702783 d:ShareCapital 2016-12-31 04702783 d:ShareCapital 2015-12-31 04702783 d:RetainedEarningsAccumulatedLosses 2016-12-31 04702783 d:RetainedEarningsAccumulatedLosses 2015-12-31 04702783 c:FRS102 2016-01-01 2016-12-31 04702783 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 04702783 c:FullAccounts 2016-01-01 2016-12-31 04702783 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP
Company registration number: 04702783







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2016


ABBEYCROFT CARE LIMITED






































img4a58.png                        

 


ABBEYCROFT CARE LIMITED
 


 
COMPANY INFORMATION


Director
Mr R M Allan 




Registered number
04702783



Registered office
3000a Parkway

Whiteley

Hampshire

PO15 7FX




Accountants
Menzies LLP
Chartered Accountants

3000a Parkway

Whiteley

Hampshire

PO15 7FX





 


ABBEYCROFT CARE LIMITED
REGISTERED NUMBER:04702783



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2016

2016
2015
Note
£
£

Fixed assets
  

Tangible assets
 5 
442,445
454,359

  
442,445
454,359

Current assets
  

Debtors: amounts falling due within one year
 6 
388,104
387,999

  
388,104
387,999

Creditors: amounts falling due within one year
 7 
(164,143)
(156,254)

Net current assets
  
 
 
223,961
 
 
231,745

Total assets less current liabilities
  
666,406
686,104

Creditors: amounts falling due after more than one year
 8 
(517,275)
(509,306)

  

Net assets
  
149,131
176,798


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
149,129
176,796

  
149,131
176,798


The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2018.

Mr R M Allan
Director
The notes on pages 2 to 6 form part of these financial statements.

Page 1

 


ABBEYCROFT CARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

1.


General information

Abbeycroft Care Limited is a company limited by shares incorporated in England and Wales. The address of the registered office is given in the company information page of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance and straight line basis.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line on buildings
Motor vehicles
-
30% reducing balance
Fixtures and fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

 
2.4

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the
Page 2

 


ABBEYCROFT CARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)


2.4
Financial instruments (continued)

present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.

 
2.5

Finance costs

Finance costs are charged to the Statement of income and retained earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in the Statement of income and retained earnings in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 0 (2015 - 0).

Page 3

 


ABBEYCROFT CARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

4.


Intangible assets




Goodwill

£



Cost


At 1 January 2016
50,000



At 31 December 2016

50,000



Amortisation


At 1 January 2016
50,000



At 31 December 2016

50,000



Net book value



At 31 December 2016
-



At 31 December 2015
-


5.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2016
491,226
28,100
97,883
617,209



At 31 December 2016

491,226
28,100
97,883
617,209



Depreciation


At 1 January 2016
44,562
24,794
93,494
162,850


Charge for the year on owned assets
9,825
992
1,097
11,914



At 31 December 2016

54,387
25,786
94,591
174,764



Net book value



At 31 December 2016
436,839
2,314
3,292
442,445



At 31 December 2015
446,664
3,306
4,389
454,359

Page 4

 


ABBEYCROFT CARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

           5.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2016
2015
£
£

Freehold
436,839
446,664

436,839
446,664



6.


Debtors

2016
2015
£
£


Amounts owed by group undertakings
387,999
387,999

Other debtors
105
-

388,104
387,999



7.


Creditors: Amounts falling due within one year

2016
2015
£
£

Bank overdrafts
44,711
38,447

Bank loans
52,917
52,917

Trade creditors
6,722
11,260

Corporation tax
39,542
39,542

Other creditors
14,601
7,578

Accruals and deferred income
5,650
6,510

164,143
156,254



8.


Creditors: Amounts falling due after more than one year

2016
2015
£
£

Bank loans
517,275
509,306

517,275
509,306


Page 5

 


ABBEYCROFT CARE LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016

9.


Loans


Analysis of the maturity of loans is given below:


2016
2015
£
£

Amounts falling due within one year

Bank loans
52,917
52,917


52,917
52,917



Amounts falling due after more than 5 years

Bank loans
517,275
509,306

517,275
509,306

570,192
562,223



10.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 6