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Registration number: 05964145

SSB Carehomes Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
LN5 7DB

 

SSB Carehomes Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 4

 

SSB Carehomes Limited
(Registration number: 05964145)
Abbreviated Balance Sheet at 31 December 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Tangible fixed assets

 

2

   

2,557,888

   

2,332,958

 

Current assets

 

             

Stocks

 

   

600

   

600

 

Debtors

 

   

211,891

   

192,006

 

Cash at bank and in hand

 

   

380

   

235

 
   

   

212,871

   

192,841

 

Creditors: Amounts falling due within one year

 

3

   

(488,128)

   

(292,677)

 

Net current liabilities

 

   

(275,257)

   

(99,836)

 

Total assets less current liabilities

 

   

2,282,631

   

2,233,122

 

Creditors: Amounts falling due after more than one year

 

3

   

(1,072,237)

   

(961,104)

 

Provisions for liabilities

 

   

(15,699)

   

(13,564)

 

Net assets

 

   

1,194,695

   

1,258,454

 

Capital and reserves

 

             

Called up share capital

 

4

   

900,100

   

900,100

 

Profit and loss account

 

   

294,595

   

358,354

 

Shareholders' funds

 

   

1,194,695

   

1,258,454

 

For the year ending 31 December 2015 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 31 March 2016

.........................................
Mr Sanjiv Basu
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

 

SSB Carehomes Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Revenue represents the fair value of the consideration received or receivable for the provision of carehome facilities to the elderly, net of discounts and sales taxes. Revenue is recognised when it is probable that the economic benefits associated with a transaction will flow to the Company and the amount of revenue and associated costs can be measured reliably.

Depreciation

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.

Asset class

Depreciation method and rate

Freehold Property

2% straight line method

Fixtures and fittings

15% on reducing balance

Motor vehicles

25% on reducing balance

Freehold property improvements

2% straight line method

Stock

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, except as required by the FRSSE.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

 

SSB Carehomes Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

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

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 January 2015

 

2,858,485

   

2,858,485

 

Additions

 

302,689

   

302,689

 

At 31 December 2015

 

3,161,174

   

3,161,174

 

Depreciation

           

At 1 January 2015

 

525,527

   

525,527

 

Charge for the year

 

77,759

   

77,759

 

At 31 December 2015

 

603,286

   

603,286

 

Net book value

           

At 31 December 2015

 

2,557,888

   

2,557,888

 

At 31 December 2014

 

2,332,958

   

2,332,958

 

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

 

2015
£

   

2014
£

 

 

   

 

Amounts falling due within one year

 

196,723

   

113,040

 

Amounts falling due after more than one year

 

1,072,237

   

961,104

 

Total secured creditors

 

1,268,960

   

1,074,144

 

Included in the creditors are the following amounts due after more than five years:

 

SSB Carehomes Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

 

2015
£

   

2014
£

 

 

   

 

After more than five years by instalments

 

651,630

   

630,414

 

4

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

Ordinary shares of £0.01 each

 

90,010,000

   

900,100

   

90,010,000

   

900,100

 
                         

5

Related party transactions

Other related party transactions

During the year the company made the following related party transactions:

Mr S Basu ( Director ) During the year the company made advances of £118,861 (2014 - £130,887) to S Basu and £129,890 (2014 - £134,858) was introduced by the director. Dividends of £50,000 (2014 - £50,000) were paid to the director


At the balance sheet date the amount due from Mr S Basu was £72,346 ( 2014 - £83,374 ) .