REGISTERED NUMBER: |
ASCOT REHABILITATION LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
REGISTERED NUMBER: |
ASCOT REHABILITATION LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ASCOT REHABILITATION LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Second Floor |
34 Lime Street |
London |
EC3M 7AT |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
BALANCE SHEET |
31ST DECEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
BALANCE SHEET - continued |
31ST DECEMBER 2021 |
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 and authorised for issue on |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
1. | STATUTORY INFORMATION |
Ascot Rehabilitation Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
The financial statements are prepared in Pound Sterling which is the functional currency of the company and rounded to nearest pound. |
Turnover |
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the period, exclusive of Value Added Tax and trade discounts. |
Services provided to patients are recognised as turnover according to the date when the treatments are provided. |
Tangible fixed assets |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
Government grants |
The Coronavirus Job Retention Scheme (Furlough) Grants relating to revenue are recognised in income on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. |
Other Covid relief grants are recognised in income when received. |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
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 profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
Pension costs |
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. |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
Debtors and creditors |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
Investments |
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through the profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. |
Going concern |
The financial statements have been prepared on the going concern basis. The Company has provided support to group companies and an entity in which it has a participating interest. As part of this support it has been agreed that the debts due to the Company by these entities should be written off. |
The Company acts as guarantor as noted separately below. The directors believe that such support is in the best interest of the Company and it is appropriate for the financial statements to be prepared on a going concern basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings |
£ | £ | £ |
COST |
At 1st January 2021 |
Additions |
Disposals |
At 31st December 2021 |
DEPRECIATION |
At 1st January 2021 |
Charge for year |
Eliminated on disposal |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
4. | TANGIBLE FIXED ASSETS - continued |
Motor | Computer |
vehicles | equipment | Totals |
£ | £ | £ |
COST |
At 1st January 2021 |
Additions |
Disposals | ( |
) | ( |
) |
At 31st December 2021 |
DEPRECIATION |
At 1st January 2021 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
At 31st December 2020 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
Additions |
At 31st December 2021 |
DEPRECIATION |
Charge for year |
At 31st December 2021 |
NET BOOK VALUE |
At 31st December 2021 |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
5. | FIXED ASSET INVESTMENTS |
Interest |
in | Other |
associate | investments | Totals |
£ | £ | £ |
COST |
At 1st January 2021 | 156,240 |
Additions | 10 |
At 31st December 2021 | 10 | 156,250 |
NET BOOK VALUE |
At 31st December 2021 | 156,250 |
At 31st December 2020 | 156,240 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Amounts owed by participating interests | 55,282 | 48,226 |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 9) |
Hire purchase contracts |
ASCOT REHABILITATION LTD (REGISTERED NUMBER: 08174128) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2021 |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
Bank loans |
Amounts falling due between two and five years: |
Bank loans - 2-5 years |
In August 2021 the company obtained a loan from Funding Circle under the government backed Covid Recovery Loan Scheme. |
The loan is repayable by installments until July 2025. Interest is at a rate of 10.9%. |
10. | OTHER FINANCIAL COMMITMENTS |
The company acts as a guarantor to a lease agreement signed by a joint venture company (Sterling Healthcare Group Ltd) on 1st October 2020. That lease agreement covered the period from 1 October 2020 to 7 June 2047, with a rent of £189,688 per annum. |
The company signed a lease agreement in August 2021 for a property that it sub-leased to NAFS Health Consultancy & Training Ltd, a company that Ascot Rehabilitation Ltd is a shareholder. The lease commitment as at 31 December 2021 amounted to £9,900. |