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Registration number: 03233854

Absolute Care Homes (Central) Limited
 

 
Unaudited Abbreviated Accounts
 

 
for the Year Ended 30 April 2013
 

Wall and Partners
Chartered Accountants
3 & 5 Commercial Gate
Mansfield
Nottinghamshire
NG18 1EJ

 

Absolute Care Homes (Central) Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

Absolute Care Homes (Central) Limited
(Registration number: 03233854)
Abbreviated Balance Sheet at 30 April 2013

 

Note

   

2013
£

   

2012
£

 

Fixed assets

 

   

   

 

Tangible fixed assets

 

2

   

6,324,226

   

5,967,124

 

Current assets

 

   

   

 

Stocks

 

   

1,126,767

   

1,126,267

 

Debtors

 

   

143,253

   

357,922

 

Cash at bank and in hand

 

   

355,006

   

179,038

 

 

   

1,625,026

   

1,663,227

 

Creditors: Amounts falling due within one year

 

3

   

(897,380)

   

(3,424,145)

 

Net current assets/(liabilities)

 

   

727,646

   

(1,760,918)

 

Total assets less current liabilities

 

   

7,051,872

   

4,206,206

 

Creditors: Amounts falling due after more than one year

 

3

   

(3,247,862)

   

(218,174)

 

Net assets

 

   

3,804,010

   

3,988,032

 

Capital and reserves

 

   

   

 

Called up share capital

 

4

   

225,000

   

225,000

 

Profit and loss account

 

   

3,579,010

   

3,763,032

 

Shareholders' funds

 

   

3,804,010

   

3,988,032

 

For the year ending 30 April 2013 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 19 March 2014

Dr M S Pawar
 
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

 

Absolute Care Homes (Central) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2013
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents the amounts derived from all trading activities of the Company.

Goodwill

Following the acquisition of the House on the Hill Care Home an impairment review was carried out and as the decision had been taken to close down operations the goodwill on acquisition was written off during the year.

Depreciation

Freehold property is held as a fixed asset but categarised according to the directors' intentions.
Property held subject to tenancy is shown as in investment whereas property held for future development for the purpose of trading by the company is shown as a tangible fixed asset.

Investment property is not dereciated as it is held under a full tenant repairing lease.

Asset class

Depreciation method and rate

Freehold property

1% straight line basis (from commencement of use)

Plant and machinery

20% reducing balance basis

Fixtures and fittings

15% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties. The investment property is held subject to a full tenant repairing lease and as such the tenant is obliged to maintain the property in all respects to a standard consistent with the condition it was in at the start of the lease. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view.



Current asset investments

Investments in land held for future development or sale without the intention of use by the company are included in current assets at the lower of cost and net realisable value.

 

Absolute Care Homes (Central) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2013
......... continued

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred taxation is provided under the liability method in respect of all material timing differences in accordance with FRS19.

2

Fixed assets

 

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

 

   

   

 

At 1 May 2012

 

-

   

6,007,948

   

6,007,948

 

Additions

 

287,492

   

489,528

   

777,020

 

At 30 April 2013

 

287,492

   

6,497,476

   

6,784,968

 

Depreciation

 

   

   

 

At 1 May 2012

 

-

   

40,824

   

40,824

 

Charge for the year

 

287,492

   

93,759

   

381,251

 

Provision for permanent diminuation in value

 

-

   

38,667

   

38,667

 

At 30 April 2013

 

287,492

   

173,250

   

460,742

 

Net book value

 

   

   

 

At 30 April 2013

 

-

   

6,324,226

   

6,324,226

 

At 30 April 2012

 

-

   

5,967,124

   

5,967,124

 

3

Creditors

Included in the creditors are the following amounts due after more than five years:

 

2013
£

   

2012
£

 

 

   

 

After more than five years by instalments

 

2,264,207

   

-

 
 

Absolute Care Homes (Central) Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2013
......... continued

4

Share capital

Allotted, called up and fully paid shares

 

2013

2012

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £1 each

 

225,000

   

225,000

   

225,000

   

225,000