28/02/2018
2018-02-28
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No description of principal activities is disclosed
2017-03-01
Sage Accounts Production 18.30 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
5569876
2017-03-01
2018-02-28
5569876
2018-02-28
5569876
2017-02-28
5569876
2017-02-28
5569876
core:NetGoodwill
2017-03-01
2018-02-28
5569876
core:LandBuildings
core:OwnedOrFreeholdAssets
2017-03-01
2018-02-28
5569876
core:FurnitureFittingsToolsEquipment
2017-03-01
2018-02-28
5569876
bus:RegisteredOffice
2017-03-01
2018-02-28
5569876
bus:LeadAgentIfApplicable
2017-03-01
2018-02-28
5569876
bus:Director1
2017-03-01
2018-02-28
5569876
bus:Director2
2017-03-01
2018-02-28
5569876
core:WithinOneYear
2018-02-28
5569876
core:WithinOneYear
2017-02-28
5569876
core:AfterOneYear
2018-02-28
5569876
core:AfterOneYear
2017-02-28
5569876
core:ShareCapital
2018-02-28
5569876
core:ShareCapital
2017-02-28
5569876
core:RetainedEarningsAccumulatedLosses
2018-02-28
5569876
core:RetainedEarningsAccumulatedLosses
2017-02-28
5569876
core:CostValuation
core:Non-currentFinancialInstruments
2018-02-28
5569876
core:Non-currentFinancialInstruments
2018-02-28
5569876
core:Non-currentFinancialInstruments
2017-02-28
5569876
bus:SmallEntities
2017-03-01
2018-02-28
5569876
bus:AuditExemptWithAccountantsReport
2017-03-01
2018-02-28
5569876
bus:AbridgedAccounts
2017-03-01
2018-02-28
5569876
bus:SmallCompaniesRegimeForAccounts
2017-03-01
2018-02-28
5569876
bus:PrivateLimitedCompanyLtd
2017-03-01
2018-02-28
Statement of consent to prepare abridged financial statements
All of the members of ARK Healthcare Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the current year ending 28 February 2018 in accordance with Section 444(2A) of the Companies Act 2006.
Company registration number:
5569876
ARK Healthcare Limited
Unaudited filleted abridged financial statements
28 February 2018
ARK Healthcare Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Notes to the financial statements
ARK Healthcare Limited
Directors and other information
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Directors
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A Panesar
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R Basandrai
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Company number
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5569876
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Registered office
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84 Raddlebarn Road
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Selly Oak
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Birmingham
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B29 6HH
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Business address
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566-568 Stratford Road
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Sparkhill
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Birmingham
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B11 4AN
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Accountants
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S Pabari & Co.
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84 Raddlebarn Road
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Selly Oak
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Birmingham
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B29 6HH
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ARK Healthcare Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of ARK Healthcare Limited
Year ended 28 February 2018
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 28 February 2018 which comprise the abridged statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
S Pabari & Co.
Chartered Certified Accountants
84 Raddlebarn Road
Selly Oak
Birmingham
B29 6HH
15 May 2018
ARK Healthcare Limited
Abridged statement of financial position
28 February 2018
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2018
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2017
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Note
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£
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£
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£
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£
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Fixed assets
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Intangible assets
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4
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375,000
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412,500
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Tangible assets
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5
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216,833
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224,802
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Investments
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6
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1,000
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1,000
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_______
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_______
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592,833
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638,302
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Current assets
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Stocks
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33,733
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37,962
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Debtors
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73,048
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75,037
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Cash at bank and in hand
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162,866
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176,330
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_______
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_______
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269,647
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289,329
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Creditors: amounts falling due
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within one year
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(
144,025)
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(
152,332)
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_______
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_______
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Net current assets
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125,622
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136,997
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_______
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_______
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Total assets less current liabilities
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718,455
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775,299
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Creditors: amounts falling due
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after more than one year
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(
27,271)
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(
39,943)
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_______
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_______
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Net assets
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691,184
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735,356
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_______
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_______
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Capital and reserves
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Called up share capital
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100
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100
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Profit and loss account
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691,084
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735,256
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_______
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_______
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Shareholders funds
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691,184
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735,356
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_______
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_______
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For the year ending 28 February 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
15 May 2018
, and are signed on behalf of the board by:
A Panesar
Director
Company registration number:
5569876
ARK Healthcare Limited
Notes to the financial statements
Year ended 28 February 2018
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 84 Raddlebarn Road, Selly Oak, Birmingham, B29 6HH.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period. 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. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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Goodwill |
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5 % |
straight line
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Freehold property
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-
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2.5 %
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reducing balance
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Fittings fixtures and equipment
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-
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15 %
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reducing balance
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Intangible assets
£
Cost
At 1 March 2017 and 28 February 2018
750,000
_______
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Amortisation
At 1 March 2017
337,500
Charge for the year
37,500
_______
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At 28 February 2018
375,000
_______
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Carrying amount
At 28 February 2018
375,000
_______
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At 28 February 2017
412,500
_______
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5.
Tangible assets
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£
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Cost
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At 1 March 2017 and 28 February 2018
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311,285
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_______
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Depreciation
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At 1 March 2017
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86,482
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Charge for the year
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7,970
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_______
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At 28 February 2018
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94,452
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_______
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Carrying amount
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At 28 February 2018
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216,833
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_______
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At 28 February 2017
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224,803
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_______
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6.
Investments
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£
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Cost
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At 1 March 2017 and 28 February 2018
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1,000
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_______
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Impairment
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At 1 March 2017 and 28 February 2018
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-
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_______
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Carrying amount
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At 28 February 2018
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1,000
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_______
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At 28 February 2017
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1,000
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_______
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