Morning Rise Supported Housing Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 07106678 (England and Wales)

MORNING RISE SUPPORTED HOUSING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs J Connor

Miss S Connor

REGISTERED OFFICE:

16 Jubilee Parkway

Jubilee Business Park

Derby

Derbyshire

DE21 4BJ

BUSINESS ADDRESS:

142 Morley Road

Oakwood

Derby

DE21 4QY

REGISTERED NUMBER:

07106678 (England and Wales)

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

49,287

29,274

49,287

29,274

CURRENT ASSETS

Stocks

1,795

1,425

Debtors

6

7,296

4,907

Cash at bank

82,488

112,251

91,579

118,583

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7

123,776

130,912

NET CURRENT LIABILITIES

(32,197

)

(12,329

)

TOTAL ASSETS LESS CURRENT LIABILITIES

17,090

16,945

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

8

(8,673

)

(20,249

)

PROVISIONS FOR LIABILITIES

9

(7,858

)

(3,416

)

NET ASSETS/(LIABILITIES)

559

(6,720

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

557

(6,722

)

SHAREHOLDERS' FUNDS

559

(6,720

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 30 August 2017 and were signed on its behalf by:

Miss S Connor - Director

1.	STATUTORY INFORMATION

Morning Rise Supported Housing 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

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.

The financial statements are prepared in accordance with applicable United Kingdom Accounting

Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied

consistently (except otherwise stated).

Turnover

Turnover represents amounts receivable for services.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of four 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 the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

15% on reducing balance and 10% on reducing balance

Motor vehicles

-

10% on cost

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 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.

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.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange

for that service.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

20,000

AMORTISATION

At 1 January 2016

and 31 December 2016

20,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 January 2016

2,608

24,512

16,727

43,847

Additions

-

24,293

9,090

33,383

Disposals

-

-

(8,228

)

(8,228

)

At 31 December 2016

2,608

48,805

17,589

69,002

DEPRECIATION

At 1 January 2016

1,624

9,604

3,345

14,573

Charge for year

148

4,880

1,760

6,788

Eliminated on disposal

-

-

(1,646

)

(1,646

)

At 31 December 2016

1,772

14,484

3,459

19,715

NET BOOK VALUE

At 31 December 2016

836

34,321

14,130

49,287

At 31 December 2015

984

14,908

13,382

29,274

The net book value of tangible fixed assets include £14,130 in respect of assets held under finance

leases or hire purchase contracts. The depreciation charge in respect of such assets amounted to

£1,759 for the year.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

6,936

4,907

Other debtors

360

-

7,296

4,907

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

2,500

Hire purchase contracts

3,211

3,030

Taxation and social security

891

9,843

Other creditors

119,674

115,539

123,776

130,912

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Bank loans

-

12,917

Hire purchase contracts

8,673

7,332

8,673

20,249

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

12,917

9.	PROVISIONS FOR LIABILITIES

2016

2015

£

£

Deferred tax

Accelerated capital allowances

7,858

3,416

Deferred

tax

£

Balance at 1 January 2016

3,416

Provided during year

4,442

Balance at 31 December 2016

7,858

10.	RELATED PARTY DISCLOSURES

Mrs J Connor

Included in other creditors are the following amounts owing to the directors, the amounts are interest

free and repayable on demand.

2016

2015

£

£

Amount due to related party at the balance sheet date

51,828

42,768

Miss S Connor

2016

2015

£

£

Amount due to related party at the balance sheet date

56,363

62,068

Mrs & Miss Connor

The Directors

The property used by the business is owned by the Directors personally. Rent of £12,000 (2015:

£12,000) was paid during the year.

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

12.	FIRST YEAR ADOPTION

This is the first year that the company has presented it's results under FRS102. The last financial

statements prepared under the previous UK GAAP were for the year ended 31 December 2015.

The following changes in accounting policies have arisen from the transition to FRS102:

The company now makes an accrual for annual leave accrued by employees as a result of services

rendered in the current period, and which employees are entitled to carry forward and use.

The company now accounts for deferred tax in full.