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Avon Lea Weymouth 2015 Limited |
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Financial Statements |
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for the Year Ended 30 November 2017 |
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REGISTERED NUMBER:
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Avon Lea Weymouth 2015 Limited |
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Financial Statements |
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for the Year Ended 30 November 2017 |
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Avon Lea Weymouth 2015 Limited (Registered number: 09734126) |
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Contents of the Financial Statements |
for the year ended 30 November 2017 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 3 |
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Avon Lea Weymouth 2015 Limited |
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Company Information |
for the year ended 30 November 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
24 Cornwall Road |
Dorchester |
Dorset |
DT1 1RX |
Avon Lea Weymouth 2015 Limited (Registered number: 09734126) |
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Statement of Financial Position |
30 November 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Inventories |
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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. |
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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 on
by: |
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Avon Lea Weymouth 2015 Limited (Registered number: 09734126) |
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Notes to the Financial Statements |
for the year ended 30 November 2017 |
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1. | STATUTORY INFORMATION |
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Avon Lea Weymouth 2015 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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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A |
These financial statements for the year ended 30 November 2017 are the first that are prepared in accordance |
with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the |
date of transition to FRS 102 Section 1A is 14 August 2015. |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
rebates, value added tax and other sales taxes. |
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Turnover represents amounts invoiced for the actual provision of residential nursing and care services during |
the accounting period. The company is not VAT registered. |
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Goodwill |
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The original useful life of goodwill was estimated as ten years; however, the nursing home trade to which the |
goodwill related ceased trading in November 2017. The goodwill has no residual value and the useful life has |
therefore been reduced to two years. Goodwill is fully amortised as at the balance sheet date. |
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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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Fixtures, fittings, equipment | - |
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The directors consider that freehold properties are maintained in such a state of repair that their residual value |
is at least equal to their net book value. As a result, the corresponding depreciation would not be material and |
therefore is not charged in the profit and loss account. The directors perform annual impairment reviews in |
accordance with the requirements of FRS15 and FRS 11 to ensure that the recoverable amount is not lower |
than the carrying value. |
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Stocks |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete |
and slow moving items. |
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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 statement of financial position date. |
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Avon Lea Weymouth 2015 Limited (Registered number: 09734126) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2017 |
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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 |
statement of financial position 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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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 |
£ |
COST |
At 1 December 2016 |
and 30 November 2017 |
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AMORTISATION |
At 1 December 2016 |
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Amortisation for year |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures, |
Freehold | fittings, |
property | equipment | Totals |
£ | £ | £ |
COST |
At 1 December 2016 |
and 30 November 2017 |
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DEPRECIATION |
At 1 December 2016 |
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Charge for year |
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At 30 November 2017 |
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NET BOOK VALUE |
At 30 November 2017 |
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At 30 November 2016 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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Other debtors |
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Avon Lea Weymouth 2015 Limited (Registered number: 09734126) |
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Notes to the Financial Statements - continued |
for the year ended 30 November 2017 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans | - | 440,417 |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2017 | 2016 |
£ | £ |
Bank loans |
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Loan |
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Director's current account | - | 74,254 |
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Bank loans are secured by a mortgage over the company's freehold premises created on 8 December 2015 |
together with a debenture created on 15 October 2015 comprising fixed and floating charges over all company |
assets both present and future. |
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The loans from Warwick Park House Limited and the director P J Cotterill are secured by second and third legal |
charges over the company's freehold premises, both created 8 December 2015. |
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10. | FIRST YEAR ADOPTION |
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There were no transitional adjustments to make to the accounts as a result of the first year adoption of |
Financial Reporting Standard 102. |