Abacus Family Care Homes Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06525754 (England and Wales)

ABACUS FAMILY CARE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S D Gray

Mrs A M Gray

SECRETARY:

S D Gray

REGISTERED OFFICE:

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

REGISTERED NUMBER:

06525754 (England and Wales)

ACCOUNTANTS:

Murphy Salisbury Limited

Chartered Accountants

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Investments

4

2,300,000

CURRENT ASSETS

Debtors

5

1,773,704

1,898,753

Cash at bank

70,318

6,155

1,844,022

1,904,908

CREDITORS

Amounts falling due within one year

6

2,626,778

2,697,210

NET CURRENT LIABILITIES

(782,756

)

(792,302

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,517,244

1,507,698

CREDITORS

Amounts falling due after more than one year

7

1,295,543

1,366,250

NET ASSETS

221,701

141,448

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

221,601

141,348

SHAREHOLDERS' FUNDS

221,701

141,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 27 June 2018 and were signed on its behalf by:

S D Gray - Director

1.	STATUTORY INFORMATION

Abacus Family Care Homes 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL.

4.	FIXED ASSET INVESTMENTS

5.

DEBTORS

2017

2016

£

Amounts falling due within one year:

Other debtors

17,460

-

2017

2016

£

Amounts falling due after more than one year:

Amounts owed by group undertakings

1,756,244

1,898,753

Aggregate amounts

1,773,704

1,898,753

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Bank loans and overdrafts

2,587,709

2,695,710

Taxation and social security

35,869

-

Other creditors

3,200

1,500

2,626,778

2,697,210

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2017

2016

£

Other creditors

1,295,543

1,366,250

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

Bank loans

2,587,709

2,695,710

Santander UK plc has a fixed and floating charge over the assets of the company and a legal and equitable charge

over the shares/ securities including the Fixed Asset Investment in Vauxian Hotels Ltd.