Bournemouth Assistance Limited - Period Ending 2017-05-31

Bournemouth Assistance Limited trading as Right at Home (Bournemouth)

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2017

Registration number: 08072286

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 8

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Balance Sheet

31 May 2017

	Note	2017 £	2016 £
Fixed assets
Intangible assets	4	46,200	52,860
Tangible assets	5	3,725	1,110
		49,925	53,970
Current assets
Debtors	6	76,587	56,028
Cash at bank and in hand		21,317	8,088
		97,904	64,116
Creditors: Amounts falling due within one year	7	(63,208)	(74,131)
Net current assets/(liabilities)		34,696	(10,015)
Total assets less current liabilities		84,621	43,955
Creditors: Amounts falling due after more than one year	7	(26,675)	(36,678)
Net assets		57,946	7,277
Capital and reserves
Called up share capital		100	100
Profit and loss account		57,846	7,177
Total equity		57,946	7,277

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 1

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Balance Sheet

31 May 2017

For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been 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.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 27 February 2018
 

 

A Davis

Director

Company Registration Number: 08072286

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 2

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

1	General information

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

The address of its registered office is:
334a Holdenhurst Road
Springbourne
Bournemouth
Dorset
BH8 8BE

These financial statements were authorised for issue by the director on 27 February 2018.

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 have been 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.

Change in basis of accounting

The company's financial statements have been prepared in accordance with FRS102 - the Financial Reporting Standard applicable in the UK and Republic of Ireland. The company has transferred from previously extant UK GAAP to FRS102 as at 1 June 2015. There are no material departures from FRS102.

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 & fittings	25% Reducing balance basis

Page 3

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

Office equipment

3 years straight line basis

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Franchise	10 year straight line basis

Page 4

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 58 (2016 - 47).

Page 5

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 June 2016	66,600	66,600
At 31 May 2017	66,600	66,600
Amortisation
At 1 June 2016	13,740	13,740
Amortisation charge	6,660	6,660
At 31 May 2017	20,400	20,400
Carrying amount
At 31 May 2017	46,200	46,200
At 31 May 2016	52,860	52,860

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2016	5,142	5,142
Additions	4,239	4,239
At 31 May 2017	9,381	9,381
Depreciation
At 1 June 2016	4,032	4,032
Charge for the year	1,624	1,624
At 31 May 2017	5,656	5,656
Carrying amount
At 31 May 2017	3,725	3,725
At 31 May 2016	1,110	1,110

Page 6

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

6

Debtors

	2017  £	2016  £
Trade debtors	17,127	11,298
Other debtors	59,460	44,730
	76,587	56,028

7

Creditors

	Note	2017  £	2016  £
Due within one year
Loans and borrowings	8	10,003	10,832
Trade creditors		4,464	1,792
Social security and other taxes		11,884	30,552
Other creditors		9,494	7,783
Accrued expenses		3,527	3,383
Corporation tax		23,836	19,789
		63,208	74,131
Due after one year
Loans and borrowings	8	26,675	36,678

Page 7

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2017

8	Loans and borrowings

	2017 £	2016 £
Non-current loans and borrowings
Other borrowings	26,675	36,678

	2017 £	2016 £
Current loans and borrowings
Bank borrowings	-	829
Other borrowings	10,003	10,003
	10,003	10,832

9	Transition to FRS 102

This is the first year the accounts have been prepared under FRS102, however, this has not affected the financial position or performance of the comparative figures.

Page 8