Acorn Fostering Services Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 04940971 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Acorn Fostering Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

S Ahmad

Mrs K Srivastava

A Srivastava

Mrs A Rizvi

SECRETARY:

Mrs K Srivastava

REGISTERED OFFICE:

ASRA Conference Centre

80 Burleys Way

Leicester

LE1 3BD

REGISTERED NUMBER:

04940971 (England and Wales)

ACCOUNTANTS:

Celerica Ltd

Accountants

First Floor

The Old Chapel

9 Kempson Road

Leicester

LE2 8AN

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

41,605

43,795

41,605

43,795

CURRENT ASSETS

Debtors

6

145,628

256,609

Cash at bank and in hand

284,188

1,850

429,816

258,459

CREDITORS

Amounts falling due within one year

7

193,936

171,813

NET CURRENT ASSETS

235,880

86,646

TOTAL ASSETS LESS CURRENT LIABILITIES

277,485

130,441

PROVISIONS FOR LIABILITIES

2,451

2,727

NET ASSETS

275,034

127,714

CAPITAL AND RESERVES

Called up share capital

9

100

100

Capital redemption reserve

50

50

Retained earnings

274,884

127,564

SHAREHOLDERS' FUNDS

275,034

127,714

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 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 Board of Directors on 18 August 2017 and were signed on its behalf by:

A Srivastava - Director

1.	STATUTORY INFORMATION

Acorn Fostering Services Limited is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

General information and basis of preparation

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.

The nature of the company's operations and principle activities are that of the provision of fostering services.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest

pound £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies

have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover represents net invoiced fostering placement and student placement charges, excluding value added tax.

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.

Computer database is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

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

Improvements to property

-

2% on cost

Furniture, fixtures and fittings

-

15% on reducing balance

Computer and office equipment

-

33% on cost

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 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.

Foreign currencies

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

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Intangible fixed assets

Intangible fixed assets (including purchased bespoke software) acquired separately from a business are capitalised at cost.

They are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives

of three years.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 19 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2016

and 31 March 2017

98,059

AMORTISATION

At 1 April 2016

and 31 March 2017

98,059

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

-

5.	TANGIBLE FIXED ASSETS

Furniture,

Computer

Improvements

fixtures

and

to

and

office

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2016

30,000

31,464

50,589

112,053

Additions

-

-

2,000

2,000

At 31 March 2017

30,000

31,464

52,589

114,053

DEPRECIATION

At 1 April 2016

1,000

17,634

49,624

68,258

Charge for year

600

2,075

1,515

4,190

At 31 March 2017

1,600

19,709

51,139

72,448

NET BOOK VALUE

At 31 March 2017

28,400

11,755

1,450

41,605

At 31 March 2016

29,000

13,830

965

43,795

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

118,523

234,994

Other debtors

27,105

21,615

145,628

256,609

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

-

23,313

Trade creditors

51,306

17,239

Taxation and social security

60,947

80,752

Other creditors

81,683

50,509

193,936

171,813

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.17

31.3.16

£

£

Bank overdraft

-

23,313

Factoring finance

-

2,831

-

26,144

The bank overdraft and other loans are secured by fixed and floating charges over the company's assets.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

100

Ordinary

£1

100

100

The following reproduces the text of the report prepared for the directors 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 Balance

Sheet. Readers are cautioned that the Income Statement 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 Acorn Fostering Services Limited for the year ended 31 March 2017 which comprise the Income Statement, 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Acorn Fostering 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 Acorn Fostering Services Limited and state those matters that we have agreed to state to the Board of Directors of Acorn Fostering Services 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/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Acorn Fostering 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 Acorn Fostering Services Limited. You consider that Acorn Fostering 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 Acorn Fostering 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.

Celerica Ltd

Accountants

First Floor

The Old Chapel

9 Kempson Road

Leicester

LE2 8AN

18 August 2017