Registration number:
Expacare Limited
for the Year Ended 31 December 2018
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ
Expacare Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Expacare Limited
Company Information
Directors |
Mrs B A I Cook T A Ratliff |
Company secretary |
Mrs B A I Cook |
Registered office |
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Accountants |
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Page 1 |
Expacare Limited
(Registration number: 01524095)
Balance Sheet as at 31 December 2018
Note |
2018 |
2017 |
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Fixed assets |
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Intangible assets |
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- |
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Tangible assets |
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- |
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- |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
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.
Approved and authorised by the
Company secretary and director
Page 2 |
Expacare Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
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.
Summary of disclosure exemptions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 8 Related Party Disclosures, not to disclose related party transactions with wholly owned subsidiaries within the group.
Revenue recognition
Turnover represents retained commission and fees receivable.
Income relating to all insurance premiums (new business, renewal, mid-term adjustment) is brought into account at the later of transaction effective date or when the policy placement has been confirmed.
Fees and other income receivable are recognised when they can be measured with reasonable certainty.
Foreign currency transactions and balances
Tax
The tax expense for the period comprises current 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 income 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.
Page 3 |
Expacare Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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.
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 and fittings |
33% on cost |
Computer equipment |
33% on cost |
Intangible assets
Website costs are shown in the balance sheet at cost, less any subsequent accumulated amortisation and subsequent 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 |
Website costs |
33% on cost |
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.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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 |
Expacare Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Intangible assets |
Website costs |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2018 |
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Amortisation |
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Amortisation charge |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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Tangible assets |
Fixtures and fittings |
Computer equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 December 2018 |
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Depreciation |
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Charge for the year |
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At 31 December 2018 |
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Carrying amount |
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At 31 December 2018 |
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Page 5 |
Expacare Limited
Notes to the Financial Statements for the Year Ended 31 December 2018
Debtors |
2018 |
2017 |
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Trade debtors |
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Prepayments and accrued income |
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Creditors |
2018 |
2017 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
13,568 |
6,266 |
Corporation tax |
113,322 |
- |
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Share capital |
Allotted, called up and fully paid shares
2018 |
2017 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
2018 |
2017 |
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Not later than one year |
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Later than one year and not later than five years |
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Page 6 |