Ashgate Care Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05242916 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

ASHGATE CARE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

B A Rosenberg

T McQuillan

SECRETARY:

Mrs M E Tilley

REGISTERED OFFICE:

Kable House

Amber Drive

Langley Mill

Nottinghamshire

NG16 4BE

REGISTERED NUMBER:

05242916 (England and Wales)

ACCOUNTANTS:

RICHARD IAN & CO

Chartered Accountants

Churchill House

Stirling Way

Borehamwood

Hertfordshire

WD6 2HP

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

2,839,852

1,682,453

Investments

4

1

2,839,853

1,682,454

CURRENT ASSETS

Stocks

1,000

Debtors

72,570

72,972

Cash at bank and in hand

42,845

3,523

116,415

77,495

CREDITORS

Amounts falling due within one year

5

431,751

494,040

NET CURRENT LIABILITIES

(315,336

)

(416,545

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,524,517

1,265,909

CREDITORS

Amounts falling due after more than one year

5

(1,149,831

)

(1,240,099

)

PROVISIONS FOR LIABILITIES

(21,177

)

(27,291

)

NET ASSETS/(LIABILITIES)

1,353,509

(1,481

)

CAPITAL AND RESERVES

Called up share capital

6

2

Revaluation reserve

1,220,088

-

Profit and loss account

133,419

(1,483

)

SHAREHOLDERS' FUNDS

1,353,509

(1,481

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 24 February 2017 and were signed on its behalf by:

B A Rosenberg - Director

T McQuillan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a going concern basis as the directors are of the opinion that the company will

continue to generate profits for the foreseeable future.

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation of

certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of seventy five years.

Goodwill, that has been revalued represents the excess of the asset valuation over and above the original cost of

those assets, has not been amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are

depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2015

and 30 September 2016

124,281

AMORTISATION

At 1 October 2015

and 30 September 2016

124,281

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 October 2015

1,936,665

Additions

7,532

Revaluations

1,220,088

At 30 September 2016

3,164,285

DEPRECIATION

At 1 October 2015

254,212

Charge for year

70,221

At 30 September 2016

324,433

NET BOOK VALUE

At 30 September 2016

2,839,852

At 30 September 2015

1,682,453

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 October 2015

and 30 September 2016

1

NET BOOK VALUE

At 30 September 2016

1

At 30 September 2015

1

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

Associated company

Affordable Fitness Limited

Nature of business: Gym operator

%

Class of shares:

holding

Ordinary

0.08

31.10.16

31.10.15

£

Aggregate capital and reserves

867,556

706,760

Profit for the year

160,796

123,745

5.

CREDITORS

Creditors include an amount of £ 1,182,633 (2015 - £ 1,267,901 ) for which security has been given.

They also include the following debts falling due in more than five years:

2016

2015

£

Repayable by instalments

595,972

686,240

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2