Independent People Homecare Limited - Period Ending 2015-03-31

Registration number: 07584328

Independent People Homecare Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Independent People Homecare Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Registration number: 07584328

Independent People Homecare Limited
Balance Sheet as at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			16,901			4,780
Current assets
Debtors					296,936			190,659
Cash at bank and in hand					138,344			114,120
					435,280			304,779
Creditors: Amounts falling due within one year					(121,015)			(66,331)
Net current assets					314,265			238,448
Total assets less current liabilities					331,166			243,228
Provisions for liabilities					(1,990)			(1,020)
Net assets					329,176			242,208
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					329,076			242,108
Shareholders' funds					329,176			242,208

For the year ending 31 March 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 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 29 June 2015 and signed on its behalf by:

Mr S R Bailey
Company secretary

Mr P F Austin
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Independent People Homecare Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 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 April 2008).

Turnover

Turnover represents amounts chargeable in respect of the sale of services to customers. Payments made in advance are recognised in the month in which the service is carried out.

Depreciation

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

Asset class	Depreciation method and rate
Office equipment	33% straight line method
Motor vehicles	25% reducing balance

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2014		8,990			8,990
Additions		16,498			16,498
At 31 March 2015		25,488			25,488
Depreciation
At 1 April 2014		4,210			4,210
Charge for the year		4,377			4,377
At 31 March 2015		8,587			8,587
Net book value
At 31 March 2015		16,901			16,901
At 31 March 2014		4,780			4,780

Page 2

Independent People Homecare Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr S R Bailey
Interest has been charged at 4% of the overdrawn loan balance up to 6th April 2014 and 3.25% for the remainder of the year	71,359	114,763	80,891	24,638
Mr P F Austin
Interest has been charged at 4% of the overdrawn loan balance up to 6th April 2014 and 3.25% for the remainder of the year	95,717	116,043	74,426	24,638

5

Control

The company is controlled by S R Bailey and P F Austin.

Page 3