Social Research Centre Ltd - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: NI069092 (Northern Ireland)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Social Research Centre Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

to

4

Notes to the Financial Statements

5

to

8

DIRECTOR:

Eileen Beamish

REGISTERED OFFICE:

178 Ballylesson Road

Belfast

Co. Antrim

BT8 8JU

REGISTERED NUMBER:

NI069092 (Northern Ireland)

ACCOUNTANTS:

Lynn, Drake & Co Ltd

Chartered Accountants

1st Floor

34 B-D Main Street

Moira

Co. Armagh

BT67 0LE

The following reproduces the text of the report prepared for the director and members 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 Statement of Financial Position. Readers are cautioned that the

Income Statement and certain other primary statements and the Report of the Director are not

required to be filed with the Registrar of Companies.

In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 May 2017 which comprise the Income Statement, Statement of Financial Position and the related notes from the accounting records and information and explanations you have given to us.

This report is made to the company's director, in accordance with the terms of our engagement. Our work has

been undertaken so that we might compile the financial statements that we have been engaged to compile,

report to the company's director that we have done so, and state those matters that we have agreed to state to

her in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or

assume responsibility to anyone other than the company and the company's director, for our work or for this

report.

We have carried out this engagement in accordance with guidance issued by the Institute of Chartered

Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to

members undertaking the compilation of financial statements.

You have acknowledged on the Statement of Financial Position as at 31 May 2017 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. 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 financial statements.

Lynn, Drake & Co Ltd

Chartered Accountants

1st Floor

34 B-D Main Street

Moira

Co. Armagh

BT67 0LE

27 June 2017

FIXED ASSETS

Intangible assets

3

4,500

9,000

Tangible assets

4

2,251

2,813

6,751

11,813

CURRENT ASSETS

Stocks

5

820

815

Debtors

6

1,750

1,233

Cash at bank

61,056

66,021

63,626

68,069

CREDITORS

Amounts falling due within one year

7

13,376

21,445

NET CURRENT ASSETS

50,250

46,624

TOTAL ASSETS LESS CURRENT LIABILITIES

57,001

58,437

PROVISIONS FOR LIABILITIES

8

339

449

NET ASSETS

56,662

57,988

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

10

56,661

57,987

SHAREHOLDERS' FUNDS

56,662

57,988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 27 June 2017 and were signed by:

Eileen Beamish - Director

1.	STATUTORY INFORMATION

Social Research Centre Ltd is a private company, limited by shares , registered in Northern Ireland.

The company's registered number and registered office address can be found on the Company

Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

20% on Reducing Balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling

costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement,

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 that have been

enacted or substantively enacted by the statement of financial position date.

Deferred tax

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

the statement of financial position 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at

the statement of financial position date. Transactions in foreign currencies are translated into sterling

at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account

in arriving at the operating result.

Pension costs and other post-retirement benefits

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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 June 2016

and 31 May 2017

45,000

AMORTISATION

At 1 June 2016

36,000

Amortisation for year

4,500

At 31 May 2017

40,500

NET BOOK VALUE

At 31 May 2017

4,500

At 31 May 2016

9,000

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2016

and 31 May 2017

9,724

DEPRECIATION

At 1 June 2016

6,911

Charge for year

562

At 31 May 2017

7,473

NET BOOK VALUE

At 31 May 2017

2,251

At 31 May 2016

2,813

5.

STOCKS

31.5.17

31.5.16

£

£

Work-in-progress

820

815

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Trade debtors

1,750

1,233

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.17

31.5.16

£

£

Tax

3,309

4,698

VAT

3,910

4,540

Deferred income

-

6,850

Directors' current accounts

3,197

2,017

Accrued expenses

2,960

3,340

13,376

21,445

8.	PROVISIONS FOR LIABILITIES

31.5.17

31.5.16

£

£

Deferred tax

Accelerated capital allowances

339

449

Deferred

tax

£

Balance at 1 June 2016

449

Provided during year

(110

)

Balance at 31 May 2017

339

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.17

31.5.16

value:

£

£

1

Ordinary

£1

1

1

10.

RESERVES

Retained

earnings

£

At 1 June 2016

57,987

Profit for the year

12,674

Dividends

(14,000

)

At 31 May 2017

56,661

11.	ULTIMATE CONTROLLING PARTY

The controlling party is Eileen Beamish.