COMPANY REGISTRATION NUMBER: NI19317
FAMILY CARING TRUST Company Limited by Guarantee Unaudited Financial Statements
Year ended
31 December 2016
K.JENNINGS & CO.
Chartered accountant 40 GREENAN ROAD NEWRY CO.DOWN BT34 2PZ
FAMILY CARING TRUST
Company Limited by Guarantee
Financial Statements
Year ended 31 December 2016
| Contents | Page |
|---|---|
| Directors' report | 1 |
| Statement of income and retained earnings | 2 |
| Statement of financial position | 3 |
| Notes to the financial statements | 4 |
| The following pages do not form part of the financial statements | |
| Detailed income statement | 9 |
| Notes to the detailed income statement | 10 |
FAMILY CARING TRUST Company LimFted by Guarantee Dlreclors. Report Year erKled 31 December 2016 The direclors present their rewrt and the unaudit financial statements of the company for the year ended 31 December 2016. Dlre¢lor3 The directors who served the c(Hnpany thjring the year Vre as folk)ws: Paul Butterfield Martin Butterfield Peter Bulterfield Small company provlslons This report has been prepared in a(rdarre with the prowsions appliCe to companies entitled to the small companies exemption. This report was approved by Ihe tx)ard of directors on 14 Awst 2017 and signed on behalf of the board by.. Paul Butterfiek Director Martin Bultetfield Direclor Paul Butterfiekl Company Secretary Registered otfice.. 44 RATHFRILAND ROAD NEWRY GO DOWN BT34 1 LD
FAMILY CARING TRUST
Company Limited by Guarantee
Statement of Income and Retained Earnings
Year ended 31 December 2016
| 2016 | 2015 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 17,715 | 29,027 | |
| Cost of sales | 4,559 | 13,944 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Gross profit | 13,156 | 15,083 | |
| Administrative expenses | 19,491 | 27,814 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Operating loss | (6,335) | (12,731) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Loss before taxation | 6 | (6,335) | (12,731) |
| Tax on loss | – | – | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Loss for the financial year and total comprehensive income | (6,335) | (12,731) | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Retained earnings at the start of the year | 23,581 | 36,312 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Retained earnings at the end of the year | 17,246 ৶৶৶৶৶৶৶৶ |
23,581 ৶৶৶৶৶৶৶৶ |
All the activities of the company are from continuing operations.
The notes on pages 4 to 7 form part of these financial statements.
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FAMILY CARING TRUST Company Limited by Guarantee Statement of Financial Position 31 December 2016 2016 2015 Flxed assets Tangible assets 3.230 Currenl assels Stocks Debtors Cash at bank and in haTrJ 12.033 12.046 1.170 9,979 23,195 7.010 19,909 Credltors: amounts lalllng due wllhln one yr Nel current assets 10 17,246 17,246 17246 20,351 Totsl assels less currenl Ilabllltles 23,581 Net assets 23,581 Capital and reserves Profit and loss account 17246 17246 23,581 23,581 Members funds These financial statements have been preparj in accordance with the piovisions applicable to companies subject lo Ihe small companies, regime and in accordance with FRS 102 The Financial Reporting Standard applicabb in the UK and Republ of Ireland.. For the year en(fing 31 December 2016 the Company was entFlled lo exemption from audit under section 477 of the Companieg Act 2006 relating lo small companies. Directors resp)nsibilittes= The members have not required tho company lo obiain an audr( of r(s financial statements for the year in question ID aCccale with tion 476" The directors acknowla*Je their resF()nsibiltties for comTYwng with the requirements of the Act th respecl to account rerdS the preparatK)n of financial stalemenls. These financial statements were approved by the ly)ard of directors and authorised lor issue on 14 August 2017. and are signed on behalf of the ix)ard by: Paul Butterfi8k Director Director Company registration numbw: N119317 The nolgs on pgg98 4 10 7 fornTr part of these fln•ncl•l statement&
FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2016
1. General information
The company is a private company limited by guarantee, registered in N IRELAND. The address of the registered office is 44 RATHFRILAND ROAD, NEWRY, CO DOWN, BT34 1LD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2016
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment - 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Company limited by guarantee
The company is limited by guarantee with the liability of each member limited to one pound sterling.
5. Staff costs
The average number of persons employed by the company during the year, including the directors, amounted to 2 (2015: 2).
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FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2016
| 6. | Profit before taxation | ||
|---|---|---|---|
| Loss before taxation is stated after charging: | |||
| 2016 | 2015 | ||
| £ | £ | ||
| Depreciation of tangible assets | 3,230 | 859 | |
| ৶৶৶৶৶৶৶ | ৶৶৶৶ | ||
| 7. | Tangible assets | ||
| Equipment | |||
| £ | |||
| Cost | |||
| At 1 Jan 2016 and 31 Dec 2016 | 29,921 | ||
| ৶৶৶৶৶৶৶৶ | |||
| Depreciation | |||
| At 1 January 2016 | 26,691 | ||
| Charge for the year | 3,230 | ||
| ৄৄৄৄৄৄৄৄ | |||
| At 31 December 2016 | 29,921 | ||
| ৶৶৶৶৶৶৶৶ | |||
| Carrying amount | |||
| At 31 December 2016 | – | ||
| ৶৶৶৶৶৶৶৶ | |||
| At 31 December 2015 | 3,230 | ||
| ৶৶৶৶৶৶৶৶ | |||
| 8. | Stocks | ||
| 2016 | 2015 | ||
| £ | £ | ||
| Raw materials and consumables | 12,033 | 12,046 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 9. | Debtors | ||
| 2016 | 2015 | ||
| £ | £ | ||
| Trade debtors | 697 | 1,097 | |
| Other debtors | 169 | 73 | |
| ৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 866 | 1,170 | ||
| ৶৶৶৶ | ৶৶৶৶৶৶৶ | ||
| 10. | Creditors: amounts falling due within one year | ||
| 2016 | 2015 | ||
| £ | £ | ||
| Trade creditors | – | 106 | |
| Other creditors | 2,663 | 2,738 | |
| ৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄ | ||
| 2,663 | 2,844 | ||
| ৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶ |
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FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2016
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRSSE.
12. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
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FAMILY CARING TRUST
Company Limited by Guarantee
Management Information Year ended 31 December 2016
The following pages do not form part of the financial statements.
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FAMILY CARING TRUST
Detailed Income Statement
Year ended 31 December 2016
| 2016 | 2015 | |
|---|---|---|
| £ | £ | |
| Turnover | 17,715 | 29,027 |
| Cost of sales | ||
| Opening stock - resale | 12,046 | 20,592 |
| Purchases | 4,546 | 5,398 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 16,592 | 25,990 | |
| Closing stock - resale - type 7 | 12,033 | 12,046 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 4,559 | 13,944 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Gross profit | 13,156 | 15,083 |
| Overheads | ||
| Administrative expenses | 19,491 | 27,814 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Operating loss | (6,335) | (12,731) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Loss before taxation | (6,335) | (12,731) |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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FAMILY CARING TRUST
Notes to the Detailed Income Statement
Year ended 31 December 2016
| Year ended 31 December | 2016 | |
|---|---|---|
| 2016 | 2015 | |
| £ | £ | |
| Administrative expenses | ||
| Wages and salaries | 10,957 | 16,530 |
| Staff pension contributions - defined contribution | 1,088 | 978 |
| Rent | 600 | 1,800 |
| Light and heat | – | 667 |
| Insurance | 229 | 330 |
| Travel and subsistence | – | 2,058 |
| Telephone | 264 | 917 |
| Computer Costs | 510 | 928 |
| Printing postage and stationery | 946 | 863 |
| Staff training | – | 18 |
| Sundry expenses | 164 | 331 |
| Accountancy fees | 1,300 | 1,300 |
| Depreciation of tangible assets | 3,230 | 859 |
| Bank charges | 203 | 235 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 19,491 | 27,814 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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