Accredo Support And Development Ltd. - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04704171 (England and Wales)

FINANCIAL STATEMENTS

FOR THE PERIOD

1 APRIL 2017 TO 30 JUNE 2018

FOR

ACCREDO SUPPORT AND DEVELOPMENT LTD.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs R Kousar

Mrs S B Jalil

REGISTERED OFFICE:

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

BUSINESS ADDRESS:

Kingston House

432-452 High Street

West Bromwich

West Midlands

B70 9LD

REGISTERED NUMBER:

04704171 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

22,833

2,444,232

Investments

5

-

-

22,833

2,444,232

CURRENT ASSETS

Debtors

6

2,056,151

417,899

Cash at bank and in hand

156,879

263,360

2,213,030

681,259

CREDITORS

Amounts falling due within one year

7

852,504

280,545

NET CURRENT ASSETS

1,360,526

400,714

TOTAL ASSETS LESS CURRENT LIABILITIES

1,383,359

2,844,946

CREDITORS

Amounts falling due after more than one year

8

-

(1,150,859

)

PROVISIONS FOR LIABILITIES

(4,338

)

(20,770

)

NET ASSETS

1,379,021

1,673,317

CAPITAL AND RESERVES

Called up share capital

10

2,000

2,000

Revaluation reserve

11

-

345,525

Retained earnings

1,377,021

1,325,792

SHAREHOLDERS' FUNDS

1,379,021

1,673,317

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 27 March 2019 and were signed on its behalf by:

Mrs S B Jalil - Director

1.	STATUTORY INFORMATION

Accredo Support And Development Ltd. is a private company, limited by shares , registered in England

and Wales. The company's registered number and registered office address can be found on the

Company Information page.

The company's accounting period was extended to 30 June in order to align the company with its new

parent company period end. Being a 15-month period the comparatives are therefore not entirely

comparable.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover & revenue recognition

Turnover represents the amounts receivable during the year for the provision of care services. Where

the amount received relates to a period which covers the balance sheet date it is apportioned over the

period to which it relates and a debtor or creditor is recognised accordingly.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost, 20% on cost and 15% on cost

Taxation

Taxation for the period 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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

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 period end and that

are expected to apply to the reversal of the timing difference.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 202 (2017 - 197 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Plant and

property

machinery

Totals

£

£

£

COST

At 1 April 2017

2,400,000

150,850

2,550,850

Disposals

(2,400,000

)

-

(2,400,000

)

At 30 June 2018

-

150,850

150,850

DEPRECIATION

At 1 April 2017

-

106,618

106,618

Charge for period

-

21,399

21,399

At 30 June 2018

-

128,017

128,017

NET BOOK VALUE

At 30 June 2018

-

22,833

22,833

At 31 March 2017

2,400,000

44,232

2,444,232

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2017

and 30 June 2018

1,000

PROVISIONS

At 1 April 2017

and 30 June 2018

1,000

NET BOOK VALUE

At 30 June 2018

-

At 31 March 2017

-

The company's investments at the Balance Sheet date in the share capital of companies include the

following:

Next Step Properties Limited

Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB

Nature of business: Dormant

%

Class of shares:

holding

Ordinary

100.00

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

(Unaudited)

£

£

Trade debtors

306,027

379,023

Other debtors

1,517,078

57

Prepayments and accrued income

233,046

38,819

2,056,151

417,899

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

(Unaudited)

£

£

Bank loans and overdrafts

-

90,600

Trade creditors

18,851

1,934

Amounts owed to group undertakings

427,614

-

Tax

70,545

101,628

Social security and other taxes

51,018

42,361

Other creditors

176,903

27,050

Accrued expenses

107,573

16,972

852,504

280,545

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

(Unaudited)

£

£

Bank loans - 2-5 years

-

362,400

Bank loans more 5 yr by instal

-

788,459

-

1,150,859

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

788,459

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

(Unaudited)

£

£

Bank loans

-

1,241,459

-

1,241,459

-

2,482,918

The bank loans were secured against the properties by virtue of registered charges by Lloyds Bank

plc. On 4 January 2018 these charges were satisfied following the sale of the properties on 20

December 2017.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

£

500

Ordinary A

£1

500

500

500

Ordinary C

£1

500

500

500

Ordinary D

£1

500

500

500

Ordinary

£1

500

500

2,000

2,000

On 20 December 2017 100% of the share capital of the company was acquired by Rehability UK

Community Limited.

11.

RESERVES

Revaluation

reserve

£

At 1 April 2017

345,525

Revaluation Reserve Transfer

(345,525

)

At 30 June 2018

-

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Spafford ACA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

13.	OTHER FINANCIAL COMMITMENTS

At 30 June 2018 the company had total financial commitments of £81,553 (2017:£58,043).

14.	RELATED PARTY DISCLOSURES

Prior to the acquisition of the company dividends totalling £143,327 were paid to the former directors.

Since the acquisition of the company £585,000 of dividends have been paid to the parent company.

15.	ULTIMATE CONTROLLING PARTY

Until 20 December 2017 the ultimate controlling parties were C Walvin, L E Walvin, K Webb and J A

Webb by virtue of their ownership of the company's entire share capital.

On 20 December 2017 100% of this company's share capital was acquired by Rehability UK

Community Limited.

Therefore from 20 December 2017 the company's ultimate controlling party is Rehability Group Limited

by virtue of its 100% shareholding in Rehability UK Community Limited.