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LOUGHTON CARE CENTRE LTD
REGISTERED NUMBER:
07861667
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ABBREVIATED BALANCE SHEET
AS AT
29 FEBRUARY 2016
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CREDITORS:
amounts falling due within one year
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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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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act")
and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 29 February 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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ABBREVIATED BALANCE SHEET
(continued)
AS AT
29 FEBRUARY 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by
:
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R Turner
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H Atkar
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
1.
ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of freehold property
and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015)
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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No depreciation is provided on land and buildings
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2.
TANGIBLE FIXED ASSETS
3.
CREDITORS:
Amounts falling due after more than one year
The bank loan is secured by a legal charge over the freehold property and a fixed and floating charge over the company's assets
There is a joint and several guarantee up to a limit of £400,000 given by Mr Atkar, a director of the company, and Pear Blossom Global Limited, the parent company. The guarentee is given in respect of the bank loan.
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 29 FEBRUARY 2016
4.
SHARE CAPITAL
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Allotted, called up and fully paid
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5.
RELATED PARTY TRANSACTIONS
At the year end the company owed Mr S Atkar, a director of the company, £1,187,768 (2015 - £1,416,793) and Pear Blossom Global Limited, the parent company, £1,651,596 (2015 - £1,642,836).
6.
CONTROLLING PARTY
The ultimate parent company is Goco International Limited, a company which owns 100% of the issued share capital of Pear Blossom Global Limited, which in turn owns 100% of the issued share capital of Loughton Care Centre Limited
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