React Support Services Limited - Accounts to registrar (filleted) - small 18.2

React Support Services Limited

Financial Statements for the Year Ended 31 December 2019

DIRECTORS:

A P Donnelly

B Donnelly

J Clement

A J Richards

REGISTERED OFFICE:

Insole House

Glamorgan Street

Canton

Cardiff

CF5 1QW

REGISTERED NUMBER:

06841337 (England and Wales)

ACCOUNTANTS:

BPU Limited

Chartered Accountants

Radnor House

Greenwood Close

Cardiff Gate Business Park

Cardiff

CF23 8AA

The following reproduces the text of the report prepared for the directors in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act

2006, the company is only required to file a Balance Sheet. Readers are cautioned that the

Profit and Loss Account and certain other primary statements and the Report of the

Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for

your approval the financial statements of React Support Services Limited for the year ended

31 December 2019 which comprise the Profit and Loss Account, Balance Sheet and the related

notes from the company's accounting records and from information and explanations you have

given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of React Support Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of React Support Services Limited and state those matters that we have agreed to state to the Board of Directors of React Support Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than React Support Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that React Support Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of React Support Services Limited. You consider that React Support Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of React Support Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

BPU Limited

Chartered Accountants

26 May 2020

FIXED ASSETS

Tangible assets

3

1,430,784

1,326,114

CURRENT ASSETS

Stocks

1,859

2,904

Debtors

4

502,591

422,798

Cash at bank and in hand

263,526

383,968

767,976

809,670

CREDITORS

Amounts falling due within one year

5

353,903

479,104

NET CURRENT ASSETS

414,073

330,566

TOTAL ASSETS LESS CURRENT LIABILITIES

1,844,857

1,656,680

CREDITORS

Amounts falling due after more than one year

6

(489,855

)

(524,977

)

DEFERRED TAX

(51,000

)

(47,700

)

NET ASSETS

1,304,002

1,084,003

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

291,284

301,464

Retained earnings

1,012,618

782,439

SHAREHOLDERS' FUNDS

1,304,002

1,084,003

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 May 2020 and were signed on its behalf by:

A P Donnelly - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting

Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of

Ireland', not to disclose related party transactions with wholly owned subsidiaries within the

group.

Turnover

Turnover represents net invoiced sales of specialist residential care services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% straight line

Leasehold property

-

10% straight line

Furniture, fixtures & fittings

-

25% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

33% straight line

Freehold property is shown at fair value. Any aggregate surplus or deficit arising from

changes in fair value is recognised in other comprehensive income.

Stocks

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

for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit &

Loss Account, except to the extent that it relates to items recognised in other comprehensive

income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that

have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not

reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in

periods different from those in which they are recognised in financial statements. Deferred

tax is measured using tax rates and laws that have been enacted or substantively enacted

by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it

is probable that they will be recovered against the reversal of deferred tax liabilities or other

future taxable profits.

Hire purchase and leasing commitments

Assets held under finance leases and hire purchase contracts, which are those where

substantially all the risks and rewards of ownership of the asset have passed to the

company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over

the period of the lease and represents a constant proportion of the balance of capital

repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the

lease term.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 92 (2018 - 86 ) .

3.	TANGIBLE FIXED ASSETS

Furniture,

Freehold

Leasehold

fixtures

property

property

& fittings

£

£

£

COST OR VALUATION

At 1 January 2019

925,000

425,922

165,995

Additions

-

174,708

618

At 31 December 2019

925,000

600,630

166,613

DEPRECIATION

At 1 January 2019

-

96,918

111,534

Charge for year

18,500

35,463

13,692

At 31 December 2019

18,500

132,381

125,226

NET BOOK VALUE

At 31 December 2019

906,500

468,249

41,387

At 31 December 2018

925,000

329,004

54,461

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2019

7,000

40,778

1,564,695

Additions

-

6,680

182,006

At 31 December 2019

7,000

47,458

1,746,701

DEPRECIATION

At 1 January 2019

583

29,546

238,581

Charge for year

1,604

8,077

77,336

At 31 December 2019

2,187

37,623

315,917

NET BOOK VALUE

At 31 December 2019

4,813

9,835

1,430,784

At 31 December 2018

6,417

11,232

1,326,114

Cost or valuation at 31 December 2019 is represented by:

Furniture,

Freehold

Leasehold

fixtures

property

property

& fittings

£

£

£

Valuation in 2018

284,020

-

-

Cost

640,980

600,630

166,613

925,000

600,630

166,613

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2018

-

-

284,020

Cost

7,000

47,458

1,462,681

7,000

47,458

1,746,701

The freehold property was valued on an open market basis in 2018. The directors consider

this to still be appropriate at 31 December 2019.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

84,671

37,070

Other debtors & prepayments

417,920

385,728

502,591

422,798

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loan

104,104

159,782

Trade creditors

39,977

32,189

Taxes & social security costs

124,288

100,589

Other creditors & accruals

85,534

186,544

353,903

479,104

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

489,855

524,977

7.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

593,959

684,759

Bank loans are secured by fixed and floating charges over the company's assets.