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

React Support Services Limited

Financial Statements for the Year Ended 31 December 2021

DIRECTORS:

A P Donnelly

B Donnelly

A J Richards

H M Osborne

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 2021 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 September 2022

FIXED ASSETS

Tangible assets

3

1,717,644

1,426,157

CURRENT ASSETS

Stocks

2,000

2,293

Debtors

4

690,875

750,911

Cash at bank and in hand

349,012

362,848

1,041,887

1,116,052

CREDITORS

Amounts falling due within one year

5

411,882

364,562

NET CURRENT ASSETS

630,005

751,490

TOTAL ASSETS LESS CURRENT LIABILITIES

2,347,649

2,177,647

CREDITORS

Amounts falling due after more than one year

6

(567,437

)

(572,958

)

DEFERRED TAX

(102,100

)

(71,400

)

NET ASSETS

1,678,112

1,533,289

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

291,284

291,284

Retained earnings

1,386,728

1,241,905

SHAREHOLDERS' FUNDS

1,678,112

1,533,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 26 September 2022 and were signed on its behalf by:

A J Richards - 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

Improvements to property

-

10% straight line

Furniture, fixtures & fittings

-

25% reducing balance

Motor vehicles

-

25% straight line

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 101 (2020 - 99 ) .

3.	TANGIBLE FIXED ASSETS

Improvements

Furniture,

Freehold

to

fixtures

property

property

& fittings

£

£

£

COST OR VALUATION

At 1 January 2021

925,000

671,691

172,722

Additions

-

389,828

6,317

Disposals

-

-

-

At 31 December 2021

925,000

1,061,519

179,039

DEPRECIATION

At 1 January 2021

37,000

199,550

136,643

Charge for year

18,500

71,518

9,684

Eliminated on disposal

-

-

-

At 31 December 2021

55,500

271,068

146,327

NET BOOK VALUE

At 31 December 2021

869,500

790,451

32,712

At 31 December 2020

888,000

472,141

36,079

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2021

7,000

75,773

1,852,186

Additions

-

13,252

409,397

Disposals

(7,000

)

-

(7,000

)

At 31 December 2021

-

89,025

2,254,583

DEPRECIATION

At 1 January 2021

3,937

48,899

426,029

Charge for year

1,750

15,145

116,597

Eliminated on disposal

(5,687

)

-

(5,687

)

At 31 December 2021

-

64,044

536,939

NET BOOK VALUE

At 31 December 2021

-

24,981

1,717,644

At 31 December 2020

3,063

26,874

1,426,157

Cost or valuation at 31 December 2021 is represented by:

Improvements

Furniture,

Freehold

to

fixtures

Computer

property

property

& fittings

equipment

Totals

£

£

£

£

£

Valuation in 2018

284,020

-

-

-

284,020

Cost

640,980

1,061,519

179,039

89,025

1,970,563

925,000

1,061,519

179,039

89,025

2,254,583

The freehold property was valued on an open market basis in 2018. The directors consider this to still be appropriate at 31 December 2021.

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

121,616

133,149

Other debtors & prepayments

569,259

617,762

690,875

750,911

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loan

140,436

103,968

Trade creditors

74,474

40,631

Taxes & social security costs

100,569

126,218

Other creditors & accruals

96,403

93,745

411,882

364,562

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

567,437

572,958

7.	SECURED DEBTS

The following secured debts are included within creditors:

2021

2020

£

£

Bank loans

707,873

676,926

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