REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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FOR |
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CHARLTON COURT CARE HOME LIMITED |
REGISTERED NUMBER:
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REPORT OF THE DIRECTORS AND |
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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FOR |
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CHARLTON COURT CARE HOME LIMITED |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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Company Information | 1 |
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Report of the Directors | 2 |
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Report of the Independent Auditors | 3 |
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Profit and Loss Account | 4 |
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Balance Sheet | 5 |
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Statement of Changes in Equity | 6 |
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Notes to the Financial Statements | 7 |
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CHARLTON COURT CARE HOME LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants and Statutory Auditors |
Fourth & Fifth Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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The directors present their report with the financial statements of the company for the year ended 30 April 2016. |
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DIRECTORS |
The directors shown below have held office during the whole of the period from 1 May 2015 to the date of this report. |
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STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with |
applicable law and regulations. |
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Company law requires the directors to prepare financial statements for each financial year. Under that law the directors |
have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting |
Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not |
approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the |
company and of the profit or loss of the company for that period. In preparing these financial statements, the directors |
are required to: |
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- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business. |
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The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the |
company's transactions and disclose with reasonable accuracy at any time the financial position of the company and |
enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for |
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud |
and other irregularities. |
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STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act |
2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to |
have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that |
the company's auditors are aware of that information. |
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AUDITORS |
The auditors, Cox Costello & Horne, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
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This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small |
companies. |
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ON BEHALF OF THE BOARD: |
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
CHARLTON COURT CARE HOME LIMITED |
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We have audited the financial statements of Charlton Court Care Home Limited for the year ended 30 April 2016 on |
pages four to eleven. The financial reporting framework that has been applied in their preparation is applicable law and |
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. |
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This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the |
Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those |
matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent |
permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's |
members as a body, for our audit work, for this report, or for the opinions we have formed. |
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Respective responsibilities of directors and auditors |
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Scope of the audit of the financial statements |
An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give |
reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or |
error. This includes an assessment of: whether the accounting policies are appropriate to the company's circumstances |
and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates |
made by the directors; and the overall presentation of the financial statements. In addition, we read all the financial and |
non-financial information in the Report of the Directors to identify material inconsistencies with the audited financial |
statements and to identify any information that is apparently materially incorrect based on, or materially inconsistent |
with, the knowledge acquired by us in the course of performing the audit. If we become aware of any apparent material |
misstatements or inconsistencies we consider the implications for our report. |
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Opinion on financial statements |
In our opinion the financial statements: |
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give a true and fair view of the state of the company's affairs as at 30 April 2016 and of its profit for the year then
ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
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Opinion on other matter prescribed by the Companies Act 2006 |
In our opinion the information given in the Report of the Directors for the financial year for which the financial statements |
are prepared is consistent with the financial statements. |
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Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you |
if, in our opinion: |
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from
branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
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the directors were not entitled to prepare the financial statements in accordance with the small companies regime
and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
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for and on behalf of
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Chartered Accountants and Statutory Auditors |
Fourth & Fifth Floor |
14-15 Lower Grosvenor Place |
London |
SW1W 0EX |
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 30 APRIL 2016 |
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30.4.16 | 30.4.15 |
Notes | £ | £ |
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TURNOVER |
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Cost of sales |
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GROSS PROFIT |
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Administrative expenses |
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OPERATING PROFIT | 4 |
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Interest payable and similar expenses |
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PROFIT BEFORE TAXATION |
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Tax on profit | 5 | ( |
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PROFIT FOR THE FINANCIAL YEAR |
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OTHER COMPREHENSIVE INCOME |
Property revaluation |
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Income tax relating to other comprehensive
income |
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OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX |
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TOTAL COMPREHENSIVE INCOME FOR
THE YEAR |
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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BALANCE SHEET |
30 APRIL 2016 |
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30.4.16 | 30.4.15 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital |
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Revaluation reserve | 11 |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS |
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The financial statements were approved by the Board of Directors on
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 APRIL 2016 |
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Called up |
share | Retained | Revaluation | Total |
capital | earnings | reserve | equity |
£ | £ | £ | £ |
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Balance at 1 May 2014 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 30 April 2015 |
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Changes in equity |
Total comprehensive income | - |
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Balance at 30 April 2016 |
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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1. | STATUTORY INFORMATION |
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Charlton Court Care Home Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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The principal trading address is: Bristol Drive, Battle Hill Estate, Wallsend. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
These financial statements have been prepared in accordance with applicable United Kingdom accounting |
standards, including Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard |
applicable in the United Kingdom and Republic of Ireland' ('FRS 102'), and with the Companies Act 2006. The |
financial statements have been prepared on the historical cost basis, unless otherwise stated. The company has |
early adopted FRS 102 Section 1A in accordance with the requirements in section 1.15 of FRS 102. |
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All transactions and balances are stated in Sterling. |
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Reconciliation with previously Generally Accepted Accounting Practice (GAAP) |
These financial statements for the year ended 30 April 2016 are the first financial statements that comply with |
FRS 102 Section 1A small entities. In preparing these accounts the directors have considered whether in |
applying the accounting policies required by FRS 102 restatement of comparative items were required. The |
transition date was 1 May 2014. No restatements were required in these financial statements. |
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Going concern |
The company is expected to continue to generate positive cash flows for the foreseeable future and for not less |
than 12 months from the date of this report. On the basis of their assessment of the company's financial position, |
the directors have a reasonable expectation that the company will be able to continue in operational existence |
for the foreseeable future which is not less than 12 months from the date of approving these financial |
statements. Financial resources include the support provided by the parent entity, Oakhurst Court Holdings |
Limited. Thus they continue to adopt the going concern basis of accounting in preparing the annual 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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Significant judgements and estimates |
In preparing these financial statements, the company has made judgements, estimates and assumptions that |
effect the application of accounting policies and the reported amounts of assets, liabilities, income and |
expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed |
on an ongoing basis. Revision to estimates are recognised prospectively. |
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Turnover |
Turnover represents the fair value of consideration receivable in the ordinary course of business for goods and |
services provided. |
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Revenue from residents of the care homes is recognised as earned, through the provision contracted services. |
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Turnover wholly arises within the United Kingdom. |
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Pension costs |
From 1 April 2015, under the Pensions Act 2008, the company must put certain staff into a pension scheme and |
contribute towards it. This is called automatic enrolment. To comply with automatic enrolment laws, the company |
signed a participation agreement with a pension provider by which staff become members of an independently |
administered pension plan. The company and staff make contributions as specified in the plan. The assets of the |
plan are held separately from those of the company. The company has no liability under the plan other than for |
the payment of those contributions. |
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Contributions outstanding at the balance sheet date amounted to £Nil (2015: £Nil). |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
Tangible fixed assets, excluding freehold and leasehold land and buildings, are initially measured at historic cost |
and subsequently carried at cost less accumulated depreciation and any accumulated impairment losses. All |
costs incurred to bring an asset into its intended working condition are included in the measurement of cost. |
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Freehold and leasehold land and buildings are initially measured at historic cost and subsequently at their |
revalued amount, being its fair value at the date of revaluation less any subsequent accumulated depreciation |
and subsequent accumulated impairment losses. The cost of properties is their purchase price together with the |
cost of improvement works. Fair value is determined on an open market basis by an independent professional |
advisor qualified by the Royal Institution of Chartered Surveyors to undertake valuation. Valuations are taken on |
a regular basis to ensure that the carrying amount does not differ materially from fair value at the reporting date. |
The company undertakes a review on a rolling basis over a five year-period. |
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Changes in fair value are disclosed in other comprehensive income and taken to a separate revaluation reserve. |
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Depreciation is provided on all property, plant and equipment, at rates calculated to write off the cost, less |
estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
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Residential freehold land | - | not depreciated |
Residential freehold buildings | - | 50 years |
Residential leasehold buildings | - | over lease term |
Plant and machinery | - | 4 years |
Fixtures and fittings | - | 4 years |
Office equipment | - | 3 years |
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Impairment of assets |
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in the profit and loss account. |
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If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate |
of its recoverable amount, but not in excess of the amount that would have been determined had no impairment |
loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in |
the profit and loss account. |
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Deferred taxation |
Provision is made on the liability method for all taxation deferred in respect of timing differences to the extent |
that, in the opinion of the directors, a liability is likely to crystallise in the foreseeable future. |
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Financial instruments |
a) Debtors |
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured |
initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the |
effective interest method, less any impairment. |
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b) Creditors |
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, |
are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost |
using the effective interest method. |
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c) Cash at bank and in hand |
Cash and cash equivalents comprise cash balances and call deposits and petty cash. |
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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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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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4. | OPERATING PROFIT |
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The operating profit is stated after charging: |
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30.4.16 | 30.4.15 |
£ | £ |
Depreciation - owned assets |
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Auditors' remuneration |
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Auditors' remuneration for non audit work |
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5. | TAXATION |
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Analysis of the tax (credit)/charge |
The tax (credit)/charge on the profit for the year was as follows: |
30.4.16 | 30.4.15 |
£ | £ |
Current tax: |
UK corporation tax |
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Group relief charge | - | (11,479 | ) |
Total current tax |
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Deferred tax | ( |
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Tax on profit | ( |
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Tax effects relating to effects of other comprehensive income |
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30.4.16 |
Gross | Tax | Net |
£ | £ | £ |
Property revaluation |
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(542,110 | ) | 2,400,096 |
2,942,206 | (542,110 | ) | 2,400,096 |
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The company has tax losses of £Nil (2015: £5,730) available to carry forward to future periods; subject to |
agreement from HMRC. |
CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
Freehold | machinery |
property | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2015 |
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Additions |
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Revaluations |
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At 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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Cost or valuation at 30 April 2016 is represented by: |
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Plant and |
Freehold | machinery |
property | etc | Totals |
£ | £ | £ |
Valuation in 2016 | 2,942,207 | - | 2,942,207 |
Cost | 1,057,793 | 175,042 | 1,232,835 |
4,000,000 | 175,042 | 4,175,042 |
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If land and buildings had not been revalued they would have been included at the following historical cost: |
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30.4.16 | 30.4.15 |
£ | £ |
Cost | 1,057,793 | - |
Aggregate depreciation | 105,779 | - |
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Land and buildings were valued on an open market basis on 28 April 2016 by DTZ Debenham Tie Leung Limited |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.16 | 30.4.15 |
£ | £ |
Trade debtors |
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Amount owed by group undertaking |
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Amount owed by participating interest | - | 20,388 |
Other debtors |
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CHARLTON COURT CARE HOME LIMITED (REGISTERED NUMBER: 07632558) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.16 | 30.4.15 |
£ | £ |
Trade creditors |
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Amount owed to participating interest | - | 169,780 |
Taxation and social security |
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Other creditors |
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9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.16 | 30.4.15 |
£ | £ |
Amount owed to group undertaking |
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10. | PROVISIONS FOR LIABILITIES |
30.4.16 | 30.4.15 |
£ | £ |
Deferred tax | 557,380 | 21,642 |
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Deferred |
tax |
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Balance at 1 May 2015 |
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Depreciation in excess |
of capital allowances | (6,372 | ) |
Property revaluation | 542,110 |
Balance at 30 April 2016 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
Revaluation in year | 2,400,096 |
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At 30 April 2016 |
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12. | RELATED PARTY DISCLOSURES |
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Mr W J Davies and Mrs P L Jackson are directors of ADL PLC, a company with which Charlton Court Care |
Home Limited have entered into a partnership agreement. In the current period, £200,426 (2015: £110,233) was |
due from Charlton Court Care Home Limited to ADL PLC under that agreement. At the reporting date, ADL PLC |
was owed a total of £11,703 (2015: £162,728). The amount is unsecured, interest free and repayable on |
demand. |
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13. | ULTIMATE CONTROLLING PARTY |
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The company is a wholly owned subsidiary company of Oakhurst Court Holdings Limited (a company |
incorporated in England and Wales). Oakhurst Court Holdings Limited prepares consolidated financial |
statements and can be obtained from Oakhurst Court Holdings Limited's registered office. The directors consider |
these accounts to be the smallest group of undertakings for which group accounts are prepared. |
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At the reporting date, in the directors' opinion, Mr H Harford was the ultimate controlling party. There has been |
no change between the reporting date and date of approval of the financial statements. |