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No description of principal activity
2018-10-01
Sage Accounts Production Advanced 2020 - FRS102_2014
xbrli:pure
xbrli:shares
iso4217:GBP
10874560
2018-10-01
2019-09-30
10874560
2019-09-30
10874560
2018-09-30
10874560
2018-09-30
10874560
bus:OrdinaryShareClass1
2018-10-01
2019-09-30
10874560
bus:Director3
2018-10-01
2019-09-30
10874560
core:WithinOneYear
2019-09-30
10874560
core:WithinOneYear
2018-09-30
10874560
core:AfterOneYear
2019-09-30
10874560
core:AfterOneYear
2018-09-30
10874560
core:ShareCapital
2019-09-30
10874560
core:ShareCapital
2018-09-30
10874560
core:OtherReservesSubtotal
2019-09-30
10874560
core:OtherReservesSubtotal
2018-09-30
10874560
core:RetainedEarningsAccumulatedLosses
2019-09-30
10874560
core:RetainedEarningsAccumulatedLosses
2018-09-30
10874560
bus:SmallEntities
2018-10-01
2019-09-30
10874560
bus:Audited
2018-10-01
2019-09-30
10874560
bus:AbridgedAccounts
2018-10-01
2019-09-30
10874560
bus:SmallCompaniesRegimeForAccounts
2018-10-01
2019-09-30
10874560
bus:PrivateLimitedCompanyLtd
2018-10-01
2019-09-30
10874560
bus:OrdinaryShareClass1
2019-09-30
10874560
bus:OrdinaryShareClass1
2018-09-30
COMPANY REGISTRATION NUMBER:
10874560
Alma Care Homes Birchester Limited
|
|
Filleted Abridged Financial Statements
|
|
Alma Care Homes Birchester Limited
|
|
Abridged Financial Statements
|
|
Year Ended 30 September 2019
Abridged statement of financial position
|
1 to 2
|
|
|
Notes to the abridged financial statements
|
3 to 6
|
|
|
Alma Care Homes Birchester Limited
|
|
Abridged Statement of Financial Position
|
|
30 September 2019
Fixed Assets
Tangible assets
|
4
|
|
6,463,957
|
693,180
|
|
|
|
|
|
Current Assets
Debtors
|
1,019,190
|
|
–
|
Cash at bank and in hand
|
1,070
|
|
–
|
|
------------
|
|
----
|
|
1,020,260
|
|
–
|
|
|
|
|
Creditors: amounts falling due within one year
|
(
696,474)
|
|
(
2,400)
|
|
------------
|
|
-------
|
Net Current Assets/(Liabilities)
|
|
323,786
|
(
2,400)
|
|
|
------------
|
---------
|
Total Assets Less Current Liabilities
|
|
6,787,743
|
690,780
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
5
|
|
(
4,178,648)
|
(
291,489)
|
|
|
------------
|
---------
|
Net Assets
|
|
2,609,095
|
399,291
|
|
|
------------
|
---------
|
|
|
|
|
|
Capital and Reserves
Called up share capital
|
7
|
|
1
|
1
|
Other reserves
|
|
2,564,509
|
650,100
|
Profit and loss account
|
|
44,585
|
(
250,810)
|
|
|
------------
|
---------
|
Shareholders Funds
|
|
2,609,095
|
399,291
|
|
|
------------
|
---------
|
|
|
|
|
|
These abridged 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 comprehensive income has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of abridged financial statements.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 September 2019 in accordance with Section 444(2A) of the Companies Act 2006.
Alma Care Homes Birchester Limited
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|
Abridged Statement of Financial Position (continued)
|
|
30 September 2019
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 September 2020
, and are signed on behalf of the board by:
Company registration number:
10874560
Alma Care Homes Birchester Limited
|
|
Notes to the Abridged Financial Statements
|
|
Year Ended 30 September 2019
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. The Triennial Review 2017 amendments to the standard have been early adopted.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
In the process of applying the company's accounting policies, the directors are required to make certain estimates, judgements and assumptions that they believe are reasonable based upon the information available. These estimates and assumptions affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the periods presented. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from the estimates, the effect of which is recognised in the period in which the facts that give rise to the revision become known. The estimate and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Useful life and residual values Tangible assets The charge in respect of depreciation is derived after determining an estimate of an asset's expected useful life and the expected residual value at the end of its life. The useful lives and residual values of the company's assets may vary depending on several factors such as, technological innovation, maintenance programmes and future market conditions. They are determined by management at the time the asset is acquired and reviewed annually for appropriateness. In determining the residual value of freehold property, the directors have considered the amount they would currently obtain from disposal of the asset if the asset were already of the age and condition expected at the end of its useful life, having regard to the factors mentioned above. As a result, the directors estimate any depreciation charge to be immaterial and accordingly there is no charge in respect of depreciation on freehold property for the period in these financial statements.
Revenue recognition
The turnover shown in the income statement represents rental income earned in the period.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. 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: Freehold property - nil The depreciation charge on freehold property is nil for the reasons outlined in the "judgements and key sources of estimation" accounting policy above.
Impairment of fixed assets
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.
Financial instruments
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4.
Tangible assets
|
£
|
Cost
|
|
At 1 October 2018
|
693,180
|
Additions
|
6,260,777
|
Disposals
|
(
490,000)
|
|
------------
|
At 30 September 2019
|
6,463,957
|
|
------------
|
Depreciation
|
|
At 1 October 2018 and 30 September 2019
|
–
|
|
------------
|
Carrying amount
|
|
At 30 September 2019
|
6,463,957
|
|
------------
|
At 30 September 2018
|
693,180
|
|
------------
|
|
|
5.
Creditors:
amounts falling due after more than one year
Secured creditors included within both creditors falling due within one year and after more than one year at the accounting date amount to £4,352,040 (2018: £ nil) and relate to bank loans. Interest is charged on the bank loans at an interest rate of 2.25% above LIBOR.
Included within creditors: amounts falling due after more than one year is an amount of £3,429,385 (2018: £ nil) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
6.
Security and contingencies
The company has entered into an unlimited guarantee in respect of bank loans made available to group companies. It is not anticipated that any material liabilities will arise from the contingent liabilities other than those provided for in these financial statements. The company treats guarantees and indemnities of this nature as contingent liabilities until such time as it becomes probable that the company will be required to make a payment under the terms of the arrangement. As at 30 September 2019 the value of the group wide bank borrowings amounted to £15.5 million.
There is a legal charge held by the company's bankers, incorporating a fixed and floating charge over the property and assets owned by the company.
7.
Called up share capital
Issued, called up and fully paid
|
2019
|
2018
|
|
No.
|
£
|
No.
|
£
|
Ordinary shares of £ 1 each
|
1
|
1
|
1
|
1
|
|
----
|
----
|
----
|
----
|
|
|
|
|
|
8.
Summary audit opinion
The auditor's report for the year dated 17 September 2020 was unqualified.
The senior statutory auditor was
Tony Hornsby BA (Hons) BFP FCA
, for and on behalf of
MCABA Limited t/a Mitchells
.
9.
Related party transactions
The company has taken advantage of the exemption conferred by FRS 102 S33.1A, removing the requirement to disclose transactions between group companies. During the year the company provided and received loans from group companies and related parties. The balance outstanding due (to)/from group companies and related parties at 30 September 2019 amounted to:
|
|
2019 |
2018 |
|
|
£ |
£ |
|
Amounts owed by group companies |
953,866 |
– |
|
Amounts owed to group companies |
(318,786) |
(162,771) |
|
Amounts owed to entities under common control |
(68,080) |
(68,080) |
|
|
|
|
All of the above balances are unsecured and repayable on demand. No interest is charged on any of the balances
.
10.
Controlling party
Alma Care Homes Birchester Limited
is the 100% subsidiary of Great Nursing Homes Holding Sárl
. A company incorporated in Luxembourg. The ultimate parent company is Princess Wilru Sárl
, a company incorporated in Luxembourg. Princess Wilru Sárl is registered with the Luxembourg Register of Commerce and Companies under number B 118.903. The registered office is 2a, rue des Capucins, L-1313 Luxembourg, Grand Duchy of Luxembourg.