Bournemouth Assistance Limited - Period Ending 2018-05-31

Bournemouth Assistance Limited trading as Right at Home (Bournemouth)

Annual Report and Unaudited Financial Statements
Year Ended 31 May 2018

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 2018

	Note	2018 £	2017 £
Fixed assets
Intangible assets	4	39,540	46,200
Tangible assets	5	2,590	3,725
		42,130	49,925
Current assets
Debtors	6	71,263	76,587
Cash at bank and in hand		97,241	21,317
		168,504	97,904
Creditors: Amounts falling due within one year	7	(72,375)	(63,208)
Net current assets		96,129	34,696
Total assets less current liabilities		138,259	84,621
Creditors: Amounts falling due after more than one year	7	(16,672)	(26,675)
Net assets		121,587	57,946
Capital and reserves
Called up share capital		100	100
Profit and loss account		121,487	57,846
Total equity		121,587	57,946

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 2018

For the financial year ending 31 May 2018 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 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 23 January 2019
 

......................................... 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 2018

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 23 January 2019.

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.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Page 3

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2018

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
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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2018

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 65 (2017 - 58).

Page 5

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2018

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
At 1 June 2017	66,600	66,600
At 31 May 2018	66,600	66,600
Amortisation
At 1 June 2017	20,400	20,400
Amortisation charge	6,660	6,660
At 31 May 2018	27,060	27,060
Carrying amount
At 31 May 2018	39,540	39,540
At 31 May 2017	46,200	46,200

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 June 2017	9,381	9,381
Additions	169	169
At 31 May 2018	9,550	9,550
Depreciation
At 1 June 2017	5,656	5,656
Charge for the year	1,304	1,304
At 31 May 2018	6,960	6,960
Carrying amount
At 31 May 2018	2,590	2,590
At 31 May 2017	3,725	3,725

Page 6

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2018

6

Debtors

	2018  £	2017  £
Trade debtors	17,199	17,127
Other debtors	51,145	59,460
Prepayments	2,919	-
	71,263	76,587

7

Creditors

Creditors: amounts falling due within one year

	Note	2018  £	2017  £
Due within one year
Loans and borrowings	8	10,003	10,003
Trade creditors		3,212	4,464
Corporation tax		38,713	23,836
Social security and other taxes		12,214	11,884
Other creditors		4,527	9,494
Accrued expenses		3,706	3,527
		72,375	63,208

Creditors: amounts falling due after more than one year

	Note	2018 £	2017 £
Due after one year
Loans and borrowings	8	16,672	26,675

Page 7

Bournemouth Assistance Limited

trading as Right at Home (Bournemouth)

Notes to the Financial Statements

Year Ended 31 May 2018

8	Loans and borrowings

	2018 £	2017 £
Loans and borrowings due after one year
Other borrowings	16,672	26,675

	2018 £	2017 £
Current loans and borrowings
Other borrowings	10,003	10,003

Page 8