Company Registration No. 08923415 (England and Wales)
Ashfields Care Limited
Unaudited accounts
for the year ended 30 September 2020
Ashfields Care Limited
Unaudited accounts
Contents
Ashfields Care Limited
Company Information
for the year ended 30 September 2020
Directors
Mr Conway Standing
Mrs Sarah Standing
Company Number
08923415 (England and Wales)
Registered Office
321 Main Street
Calverton
Nottingham
Nottinghamshire
NG14 6LT
United Kingdom
Accountants
Add-itions Accountancy Solutions
321 Main Street
Calverton
Nottingham
Nottinghamshire
NG14 6LT
Ashfields Care Limited
Statement of financial position
as at 30 September 2020
Intangible assets
552,971
592,469
Tangible assets
3,549,050
2,173,619
Debtors
2,779,511
2,786,310
Cash at bank and in hand
51,128
505
Creditors: amounts falling due within one year
(429,387)
(427,282)
Net current assets
2,403,252
2,361,533
Total assets less current liabilities
6,505,273
5,127,621
Creditors: amounts falling due after more than one year
(3,427,664)
(2,094,031)
Provisions for liabilities
Deferred tax
(45,464)
(22,898)
Net assets
3,032,145
3,010,692
Called up share capital
1
1
Share premium
2,669,999
2,669,999
Profit and loss account
362,145
340,692
Shareholders' funds
3,032,145
3,010,692
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2021 and were signed on its behalf by
Mr Conway Standing
Director
Company Registration No. 08923415
Ashfields Care Limited
Notes to the Accounts
for the year ended 30 September 2020
Ashfields Care Limited is a private company, limited by shares, registered in England and Wales, registration number 08923415. The registered office is 321 Main Street, Calverton, Nottingham, Nottinghamshire, NG14 6LT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the fees raised for services provided.
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
25% on reducing balance
Hire purchase and leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Ashfields Care Limited
Notes to the Accounts
for the year ended 30 September 2020
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Intangible fixed assets
Goodwill
At 30 September 2020
789,959
Charge for the year
39,498
At 30 September 2020
236,988
At 30 September 2020
552,971
At 30 September 2019
592,469
5
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 October 2019
2,067,667
30,720
287,861
8,049
2,394,297
Additions
1,242,103
-
212,741
7,034
1,461,878
At 30 September 2020
3,309,770
30,720
500,602
15,083
3,856,175
At 1 October 2019
-
15,366
197,545
7,767
220,678
Charge for the year
-
3,839
79,774
2,834
86,447
At 30 September 2020
-
19,205
277,319
10,601
307,125
At 30 September 2020
3,309,770
11,515
223,283
4,482
3,549,050
At 30 September 2019
2,067,667
15,354
90,316
282
2,173,619
Ashfields Care Limited
Notes to the Accounts
for the year ended 30 September 2020
6
Debtors: amounts falling due within one year
2020
2019
Trade debtors
4,622
28,640
Accrued income and prepayments
10,109
10,385
Other debtors
102,263
104,964
Debtors: amounts falling due after more than one year
Amounts due from group undertakings etc.
2,662,517
2,642,321
7
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
159,048
132,328
Obligations under finance leases and hire purchase contracts
24,028
15,571
Trade creditors
50,144
139,248
Taxes and social security
74,259
63,128
Other creditors
57,852
23,304
8
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
3,405,760
2,082,173
Obligations under finance leases and hire purchase contracts
21,904
11,858
Ashfields Care Limited is a wholly owned subsidiary of Medix Health Limited, a company registered in England & Wales with the company number 08939971.
The Ultimate controlling party by virtue of shareholdings In Medix Health Limited is Mr C Standing and Mrs S Standing.
10
Average number of employees
During the year the average number of employees was 79 (2019: 74).
