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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2020 |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2020 |
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FOR |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD |
HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
11 Warwick Road |
Old Trafford |
Manchester |
M16 0QQ |
HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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BALANCE SHEET |
30 JUNE 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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BALANCE SHEET - continued |
30 JUNE 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2020 |
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1. | STATUTORY INFORMATION |
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Hedges House Residential Care Hotel Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover represents the amounts received from residents in respect of residential care provided. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Freehold property | - |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Costs includes all direct expenditure. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
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2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 July 2019 |
and 30 June 2020 |
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AMORTISATION |
At 1 July 2019 |
and 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
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5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
Freehold | to | and | Computer |
property | property | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 July 2019 |
and 30 June 2020 |
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DEPRECIATION |
At 1 July 2019 |
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Charge for year |
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At 30 June 2020 |
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NET BOOK VALUE |
At 30 June 2020 |
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At 30 June 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Other debtors |
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Prepayments |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Credit cards |
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Chadwick Control acc - DLA | 51,604 | 20,904 |
Directors' current accounts | 37,500 | 37,500 |
Accrued expenses |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2020 | 2019 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more than 5 |
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Directors' loan accounts | 36,175 | 109,986 |
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HEDGES HOUSE RESIDENTIAL CARE HOTEL LTD (REGISTERED NUMBER: 05833856) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2020 |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
2020 | 2019 |
£ | £ |
Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more than 5 | 133,603 | 173,461 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2020 | 2019 |
£ | £ |
Bank loans |
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The bank loan is secured by a floating charge over the assets of the company. |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £16,000 were paid to the directors . |
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During the year the company received from the partnership Chadwick Design the sum of £20,700 (2019 : £20,904) a business in which the directors have the controlling interest |
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11. | POST BALANCE SHEET EVENTS |
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Corona Virus |
The Company has concluded that the COVID-19 crisis is a non-adjusting post balance sheet event as at 30 June 2020 on the basis that the World Health Organisation was first informed of cases of a new virus in Wuhan on 31 December 2019 and as such had not declared a global health emergency at that date. Consequently, no adjustments have been made to the Company's reported results or financial position as a result of COVID-19. |
The Covid-19 pandemic has developed rapidly in 2020, with a significant number of cases. Measures taken by various governments to contain the virus have affected economic activity. We have taken a number of measures to monitor and mitigate the effects of Covid-19, such as health and safety measures for our people and securing the supply of materials that are essential to our production process. The company has also taken steps to assess the impact on the business of the risks associated with COVID-19, in order to adequately plan for the future and manage our financial resources. There are a number of actions being taken to minimise the financial impact, including a review of capital expenditure programmes, working capital management and close management of non-essential expenditure. |
At this stage, the impact on our business and results has not been significant and based on our experience to date we expect this to remain the case however it is highly dependent on the severity and duration of the pandemic and hence could be material to the Company's future results. We will continue to follow government policies and advice and, in parallel, we will do our utmost to continue our operations in the best and safest way possible without jeopardising the health of our people. |
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12. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling parties of Hedges House Residential Care Hotel Ltd are the directors Mrs A H Chadwick and Mr R I Chadwick by virtue of them holding 100% of the issued share capital equally between them. |