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Company registration number: 07111274
Companies House
Birmingham Supported Living (2010) Limited
Company limited by guarantee
Unaudited filleted financial statements
31 March 2022
Birmingham Supported Living (2010) Limited
Company limited by guarantee
Contents
Statement of financial position
Notes to the financial statements
Birmingham Supported Living (2010) Limited
Company limited by guarantee
Statement of financial position
31 March 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 6 60,062 66,068
Tangible assets 7 1,741 642
_______ _______
61,803 66,710
Current assets
Debtors 8 88,333 98,110
Cash at bank and in hand 84,947 78,893
_______ _______
173,280 177,003
Creditors: amounts falling due
within one year 9 ( 39,065) ( 32,396)
_______ _______
Net current assets 134,215 144,607
_______ _______
Total assets less current liabilities 196,018 211,317
Creditors: amounts falling due
after more than one year 10 ( 38,880) ( 48,426)
_______ _______
Net assets 157,138 162,891
_______ _______
Capital and reserves
Profit and loss account 157,138 162,891
_______ _______
Members funds 157,138 162,891
_______ _______
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 May 2022 , and are signed on behalf of the board by:
Mrs A Martin Mrs E McDonald
Director Director
Company registration number: 07111274
Birmingham Supported Living (2010) Limited
Company limited by guarantee
Notes to the financial statements
Year ended 31 March 2022
1. General information
The company is a private company limited by guarantee, registered in England and Wales. The address of the registered office is 13 Portland Road, Edgbaston, Birmingham, West Midlands, B16 9HN. The address of the business is 87/89A Bunbury Road, Northfield, Birmingham, B31 2ET.
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 Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity, and are rounded to the nearest £1.
Turnover
Turnover is measured at the fair value of the consideration received for the provision of supported living accomodation.
Revenue is recognised upon the receipt of the consideration; 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 5 % straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 25 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating 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 are 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.
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 in finance costs in profit or loss in the period in which it arises.
Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.
4. Limited by guarantee
The company is a company limited by guarantee without a share capital. The liability of each member is limited to £1.00.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 30 (2021: 31 ).
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 April 2021 and 31 March 2022 120,122 120,122
_______ _______
Amortisation
At 1 April 2021 54,054 54,054
Charge for the year 6,006 6,006
_______ _______
At 31 March 2022 60,060 60,060
_______ _______
Carrying amount
At 31 March 2022 60,062 60,062
_______ _______
At 31 March 2021 66,068 66,068
_______ _______
7. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2021 2,455 5,393 605 8,453
Additions - - 1,495 1,495
_______ _______ _______ _______
At 31 March 2022 2,455 5,393 2,100 9,948
_______ _______ _______ _______
Depreciation
At 1 April 2021 2,182 5,393 236 7,811
Charge for the year 55 - 341 396
_______ _______ _______ _______
At 31 March 2022 2,237 5,393 577 8,207
_______ _______ _______ _______
Carrying amount
At 31 March 2022 218 - 1,523 1,741
_______ _______ _______ _______
At 31 March 2021 273 - 369 642
_______ _______ _______ _______
8. Debtors
2022 2021
£ £
Prepayments and accrued income 47,455 61,599
Other debtors 40,878 36,511
_______ _______
88,333 98,110
_______ _______
9. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 9,545 1,574
Accruals and deferred income 29,520 27,620
Other creditors - 3,202
_______ _______
39,065 32,396
_______ _______
10. Creditors: amounts falling due after more than one year
2022 2021
£ £
Bank loans and overdrafts 38,880 48,426
_______ _______
The bank loan and overdrafts consists of a bounce back loan received due to the covid-19 outbreak. This loan is repayable over 60 months at an interest rate of 2.5% pa and is due for repayment by January 2027.
11. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs A Martin 1,000 - 1,000
Mrs E McDonald 1,000 - 1,000
Mrs M Doyle 1,000 - 1,000
_______ _______ _______
3,000 - 3,000
_______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mrs A Martin - 1,000 1,000
Mrs E McDonald - 1,000 1,000
Mrs M Doyle - 1,000 1,000
_______ _______ _______
- 3,000 3,000
_______ _______ _______