COMPANY REGISTRATION NUMBER: NI19317
FAMILY CARING TRUST Company Limited by Guarantee Unaudited Financial Statements
Year ended
31 December 2018
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 2018
| 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 | 8 |
| Notes to the detailed income statement | 9 |
FAMILY CARING TRUST Company Limiled by Guarantee Dlrectors. Report Year erKled 31 December 2018 The dir8ciors present their rewrt and Ihe unaudited linanci stalements ol tht company lor the year ended 31 December 2018. Dlr¢¢tors The directors who se Ihe company durirvJ lh6 year re as Id0.. Paul &J¢t8rfd Martin Bultertidd Small comp•ny provlslon$ This raF4)rt has been prepared in acctydance Mlh Ihe Prls1on6 aFWith lo eompanies ents.tled lo tho small companies ex8mpb'on. This report was 8rproved by the board ol dIr•(a0 on 31 Juty 2019 and sign8d on beh[ ol the board artin Butterfiel Di18elor Dir•¢tor JknJW Paul Buttertield Company Secretary Registered office.. 44 RATHFRILAND ROAD NEWRY CO DOWN BT34 1 LO
FAMILY CARING TRUST
Company Limited by Guarantee
Statement of Income and Retained Earnings
Year ended 31 December 2018
| 2018 | 2017 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 10,897 | 14,714 | |
| Cost of sales | 10,093 | 1,940 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Gross profit | 804 | 12,774 | |
| Administrative expenses | 17,444 | 13,332 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Operating loss | (16,640) | (558) | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Loss before taxation | (16,640) | (558) | |
| Tax on loss | – | – | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | ||
| Loss for the financial year and total comprehensive income | (16,640) | (558) | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ | ||
| Retained earnings at the start of the year | 16,688 | 17,246 | |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | ||
| Retained earnings at the end of the year | 48 ৶৶৶৶৶৶৶৶ |
16,688 ৶৶৶৶৶৶৶৶ |
All the activities of the company are from continuing operations.
The notes on pages 4 to 6 form part of these financial statements.
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FAMILY CARING TRUST Company Limited by Guarantee Stalemenl ol Financial Position 31 December 2018 2018 2017 Nol• Stocks Debtors Cash al bank In hand 10,093 774 8.300 19,167 Credllors.. amounts lallkng du• wtthln cm yr Nel current assets 2,479 16,688 Total ass•ts 105$ curr•nt Ilabllltl 16,688 14el 16,688 C•ph•l and rewv•s Profil and 1055 account 16.688 M•rnb•r• lund• 16,688 These linancal statements have been prepar8d in accdanC ith th• r0s1OnS aprAicat4è to companies 5Ut¥'ect lo the 8mJl ¢ornpani•s' regim• and in ac¢ordanco th FRS 102 Tho FSnandal Rèporting Siandard aFF4ieabl• in the UK and A¥tI"¢ ol Irdand. For the yea¥ en(Iir•J 31 Docomber 2018 Iho MpanY antill8d to gX8mption from audil und ction 477 01 Ihè Companlès Act 2C#J6 rglatir¥J to smal companies. Directors. responsibileS.. The membBr5 have nol required Ihe company to otthn an ats.1 of ils tinanrial 3t8lements for lh8 yoar in qu8slion in accordanco wlh s8clion 476; Thè diT•eiors aCkn•d9& ihalr r8sw)nslL41ities lor cornng vthh Ihe requirernents ol Ihe A th respecl to accounliNJ records and Ihe yeparalion ol financial statcments. These financial stalements we aFproved by the board ol thedors and •uthOrI lor IsÈu8 on 31 Juty 2019, and ar8 signed on Wall 01 the t#)•rd by.. Paul Bulterli8ld Director artin Butterfi Direclor CnpanY registration nurnber.. N119317 The not¢8 on p•y$ 4 1¢ 6 lomi pvl ot the9• ffinWn¢i sknlwn•nt
FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2018
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 Section 1A of FRS 102, '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.
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.
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.
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FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2018
3. Accounting policies (continued)
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
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cashgenerating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
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FAMILY CARING TRUST
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 December 2018
5. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2017: 1).
6. Tangible assets
| Equipment | Total | ||
|---|---|---|---|
| £ | £ | ||
| Cost | |||
| At 1 January 2018 and 31 December 2018 | 29,921 | 29,921 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Depreciation | |||
| At 1 January 2018 and 31 December 2018 | 29,921 | 29,921 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| Carrying amount | |||
| At 31 December 2018 | – | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| At 31 December 2017 | – | – | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ | ||
| 7. | Debtors | ||
| 2018 | 2017 | ||
| £ | £ | ||
| Trade debtors | – | 507 | |
| Other debtors | 48 | 267 | |
| ৄৄৄৄ | ৄৄৄৄ | ||
| 48 | 774 | ||
| ৶৶৶৶ | ৶৶৶৶ | ||
| 8. | Creditors: amounts falling due within one year | ||
| 2018 | 2017 | ||
| £ | £ | ||
| Other creditors | – | 2,479 | |
| ৶৶৶৶ | ৶৶৶৶৶৶৶ |
9. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed.
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FAMILY CARING TRUST
Company Limited by Guarantee
Management Information Year ended 31 December 2018
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 2018
| 2018 | 2017 | |
|---|---|---|
| £ | £ | |
| Turnover | 10,897 | 14,714 |
| Cost of sales | ||
| Opening stock - resale | 10,093 | 12,033 |
| Closing stock - resale | – | 10,093 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 10,093 | 1,940 | |
| ৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| Gross profit | 804 | 12,774 |
| Overheads | ||
| Administrative expenses | 17,444 | 13,332 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |
| Operating loss | (16,640) | (558) |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄ | |
| Loss before taxation | (16,640) | (558) |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶ |
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FAMILY CARING TRUST
Notes to the Detailed Income Statement
Year ended 31 December 2018
| 2018 | 2017 | |
|---|---|---|
| £ | £ | |
| Administrative expenses | ||
| Wages and salaries | 9,162 | 8,400 |
| Staff pension contributions | 882 | 756 |
| Light and heat | 505 | – |
| Insurance | – | 217 |
| Travel and subsistence | 727 | – |
| Telephone | 421 | 314 |
| Office expenses | 1,788 | – |
| Computer Costs | 1,560 | 570 |
| Printing postage and stationery | 1,713 | 1,969 |
| Sundry expenses | – | 118 |
| Accountancy fees | 443 | 780 |
| Bank charges | 243 | 208 |
| ৄৄৄৄৄৄৄৄ | ৄৄৄৄৄৄৄৄ | |
| 17,444 | 13,332 | |
| ৶৶৶৶৶৶৶৶ | ৶৶৶৶৶৶৶৶ |
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