Supreme Healthcare Limited Filleted accounts for Companies House (small and micro)

SUPREME HEALTH CARE LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 02748030

SUPREME HEALTHCARE LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

30 September 2020

SUPREME HEALTHCARE LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2020

	2020		2019
Note	£	£	£	£

Fixed assets

Tangible assets	5		576,926		580,369

Current assets

Stocks		453,159	453,159
Debtors	6	16,090	16,653
Cash at bank and in hand		–	51
		------------	------------
		469,249	469,863

Creditors: amounts falling due within one year	7	( 158,634)		( 202,809)
		------------		------------
Net current assets			310,615		267,054
			------------		------------
Total assets less current liabilities			887,541		847,423

Provisions

Taxation including deferred tax	( 4,343)	( 4,997)
	------------	------------
Net assets	883,198	842,426
	------------	------------

Capital and reserves

Called up share capital	2	2
Profit and loss account	883,196	842,424
	------------	------------
Members funds	883,198	842,426
	------------	------------

These 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 Section 1A of 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 statement of income and retained earnings has not been delivered.

For the year ending 30 September 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

SUPREME HEALTHCARE LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2020

These financial statements were approved by the board of directors and authorised for issue on 18 June 2021 , and are signed on behalf of the board by:

Mr N Chawla

Director

Company registration number: 02748030

SUPREME HEALTHCARE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2020

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Holmside Residential Care Home, Station Road, Bedlington, Northumberland, NE22 5PP.

2. Statement of compliance

These 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'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents fees receivable from residents during the year.

Taxation

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.

Tangible assets

Tangible assets are initially recorded at cost.

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:

Fixtures & Fittings	-	15% reducing balance
Equipment	-	20% reducing balance

Freehold property is to be maintained to such a standard that its residual value will be not less than its cost . No depreciation has been charged as it is not material .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 23 (2019: 21 ).

5. Tangible assets

	Land and buildings	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 October 2019	554,066	76,770	25,738	656,574
Additions	–	–	786	786
	------------	------------	------------	------------
At 30 September 2020	554,066	76,770	26,524	657,360
	------------	------------	------------	------------
Depreciation
At 1 October 2019	–	53,240	22,965	76,205
Charge for the year	–	3,530	699	4,229
	------------	------------	------------	------------
At 30 September 2020	–	56,770	23,664	80,434
	------------	------------	------------	------------
Carrying amount
At 30 September 2020	554,066	20,000	2,860	576,926
	------------	------------	------------	------------
At 30 September 2019	554,066	23,530	2,773	580,369
	------------	------------	------------	------------

6. Debtors

	2020	2019
	£	£
Trade debtors	15,172	15,920
Other debtors	918	733
	------------	------------
	16,090	16,653
	------------	------------

7. Creditors: amounts falling due within one year

	2020	2019
	£	£
Bank loans and overdrafts	82,048	137,213
Trade creditors	11,033	7,050
Corporation tax	10,270	5,257
Social security and other taxes	2,014	2,496
Other creditors	53,269	50,793
	------------	------------
	158,634	202,809
	------------	------------

Other creditors include a directors loan of £16,107 (2019: £11,177).

8. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2020	2019
	£	£
Not later than 1 year	570	–
	------------	------------

9. Events after the end of the reporting period

The impact of the COVID-19 pandemic constitutes a non-adjusting post balance sheet event. Both the sourcing of goods and sales to customers may be affected but at this stage, it is impossible to estimate the longer term financial effects on the company.

10. Related party transactions

Other than the directors remuneration and the amount due to the directors as disclosed in note 9, there are no further related party transactions requiring to be disclosed in accordance with FRS 102.

11.