Independent Living Services (EM) Limited - Period Ending 2016-12-31

Registration number: 06783872

Independent Living Services (EM) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Independent Living Services (EM) Limited

Contents

Company Information	1
Accountants' Report	2
Balance Sheet	3
Notes to the Financial Statements	4 to 6

Independent Living Services (EM) Limited

Company Information

Directors

D P Smith R L Smith H Nathudkhan H S Atwal

Company secretary

S H Hall

Registered office

4 Sidings Road Lowmoor Business Park Kirkby-In-Ashfield Nottingham NG17 7JZ

Accountants

Ashgates Corporate Services Limited 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

Page 1

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Independent Living Services (EM) Limited
for the Year Ended 31 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Independent Living Services (EM) Limited for the year ended 31 December 2016 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/
member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Independent Living Services (EM) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Independent Living Services (EM) Limited and state those matters that we have agreed to state to the Board of Directors of Independent Living Services (EM) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/
fact/technical-factsheet-163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Independent Living Services (EM) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Independent Living Services (EM) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Independent Living Services (EM) Limited. You consider that Independent Living Services (EM) 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 accounts of Independent Living Services (EM) 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 accounts.

......................................

Ashgates Corporate Services Limited
5 Prospect Place
Millennium Way
Pride Park
Derby
DE24 8HG

25 April 2017

Page 2

Independent Living Services (EM) Limited

(Registration number: 06783872)
Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	4	3,417	-
Current assets
Debtors	5	16,711	15,625
Cash at bank and in hand		38,927	1,411
		55,638	17,036
Creditors: Amounts falling due within one year	6	(33,139)	(9,920)
Net current assets		22,499	7,116
Total assets less current liabilities		25,916	7,116
Provisions for liabilities		(131)	-
Net assets		25,785	7,116
Capital and reserves
Called up share capital		200	200
Profit and loss account		25,585	6,916
Total equity		25,785	7,116

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 April 2017 and signed on its behalf by:
 

.........................................

D P Smith

Director

The notes on pages 4 to 6 form an integral part of these financial statements.

Page 3

Independent Living Services (EM) Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

1	General information

The company is a private company limited by share capital incorporated in England.

The address of the registered office is given in the company information on page 1 of the financial statements.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'Section 1A The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£).
 

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducung balance
Motor Vehicles	25% reducung balance

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 4

Independent Living Services (EM) Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2015 - 13).

4	Tangible assets

	Fixtures and fittings  £	Motor vehicles  £	Total £
Cost or valuation
Additions	960	3,000	3,960
At 31 December 2016	960	3,000	3,960
Depreciation
Charge for the year	80	463	543
At 31 December 2016	80	463	543
Carrying amount
At 31 December 2016	880	2,537	3,417

5

Debtors

	2016 £	2015 £
Trade debtors	13,681	15,544
Other debtors	3,030	81
	16,711	15,625

6

Creditors

	2016 £	2015 £
Due within one year
Trade creditors	5,485	1,509
Taxation and social security	1,476	1,763
Other creditors	26,178	6,648
	33,139	9,920

7	Financial commitments, guarantees and contingencies

The total amount of financial commitments, in respect of operating leases, not included in the balance sheet is £1,918 (2015 - £2,407).

Page 5

Independent Living Services (EM) Limited

Notes to the Financial Statements for the Year Ended 31 December 2016

8	Transition to FRS 102

The financial statements are the company’s first financial statements that comply with FRS102. The date of transition to FRS102 was 1 January 2015.

The transition to FRS102 has not resulted in any changes between the amounts prepared previously under UK GAAP and those presented in compliance with FRS 102

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