Company Registration No. 04607250 (England and Wales)
ABBEY CARE SAXON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ABBEY CARE SAXON LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2 - 3
Notes to the abbreviated accounts
4 - 5
ABBEY CARE SAXON LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABBEY CARE SAXON LIMITED FOR THE YEAR ENDED 31 MARCH 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 5 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbey Care Saxon Limited for the year ended 31 March 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Abbey Care Saxon Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey Care Saxon Limited and state those matters that we have agreed to state to the Board of Directors of Abbey Care Saxon Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Care Saxon Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Abbey Care Saxon Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Abbey Care Saxon Limited. You consider that Abbey Care Saxon Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Abbey Care Saxon Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
23 December 2016
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
ABBEY CARE SAXON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,619,524
1,690,458
Current assets
Stocks
100
100
Debtors
892,612
841,905
Cash at bank and in hand
13,693
20,769
906,405
862,774
Creditors: amounts falling due within one year
3
(364,599)
(321,205)
Net current assets
541,806
541,569
Total assets less current liabilities
2,161,330
2,232,027
Creditors: amounts falling due after more than one year
4
(96,094)
(136,435)
Provisions for liabilities
(5,473)
(5,473)
2,059,763
2,090,119
Capital and reserves
Called up share capital
5
50,000
50,000
Share premium account
44,288
44,288
Revaluation reserve
605,613
605,613
Profit and loss account
1,359,862
1,390,218
Shareholders' funds
2,059,763
2,090,119
ABBEY CARE SAXON LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 3 -
For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 22 December 2016
Mr Jatin Patel
Director
Company Registration No. 04607250
ABBEY CARE SAXON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents the amounts receivable for services provided during the year. the amounts receivable for services provided during the year.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings freehold
Nil on land. 2% per annum straight line on buildings
Plant and machinery
20% per annum reducing balance
Motor vehicles
25% per annum reducing balance
1.4
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.6
Other operating income comprises of rent and management fees, recognised on a receivable basis.
ABBEY CARE SAXON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 5 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 April 2015
2,274,647
Additions
5,238
At 31 March 2016
2,279,885
Depreciation
At 1 April 2015
584,189
Charge for the period
76,172
At 31 March 2016
660,361
Net book value
At 31 March 2016
1,619,524
At 31 March 2015
1,690,458
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £40,770 (2015 - £33,784).
4
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £96,094 (2015 - £136,435).
5
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50,000 Ordinary Shares of £1 each
50,000
50,000