Company Registration No. 04417826 (England and Wales)
STEPPING OUT SOCIAL CARE LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
STEPPING OUT SOCIAL CARE LTD
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
STEPPING OUT SOCIAL CARE LTD
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF STEPPING OUT SOCIAL CARE LTD FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Stepping Out Social Care Ltd for the year ended 31 March 2015 set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Stepping Out Social Care Ltd, as a body, in accordance with the terms of our engagement letter dated 27 August 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Stepping Out Social Care Ltd and state those matters that we have agreed to state to the Board of Directors of Stepping Out Social Care Ltd, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Stepping Out Social Care Ltd and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Stepping Out Social Care Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Stepping Out Social Care Ltd. You consider that Stepping Out Social Care Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Stepping Out Social Care Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Gerald Edelman
23 February 2016
Chartered Accountants
73 Cornhill
London
EC3V 3QQ
STEPPING OUT SOCIAL CARE LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 2 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,333
6,200
Current assets
Debtors
-
(543)
Cash at bank and in hand
90,328
52,730
90,328
52,187
Creditors: amounts falling due within one year
(392,612)
(447,548)
Net current liabilities
(302,284)
(395,361)
Total assets less current liabilities
(298,951)
(389,161)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(298,953)
(389,163)
Shareholders' funds
(298,951)
(389,161)
For the financial year ended 31 March 2015 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 February 2016
T Ismail
Director
Company Registration No. 04417826
STEPPING OUT SOCIAL CARE LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The financial statements have been prepared on a going concern basis. During the period the company made a loss of £90210 before taxation and at the balance sheet date the company had net current
as
s
ets
of £302284.
The director consider the going concern basis to be appropriate because in
his
opinion, the company will continue to obtain sufficient funding to enable it to pay its debts as they fall due and also will receive continuing support from the director. If the company were unable to obtain such funding, it would be unable to continue trading and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for providing housing and social care net of VAT. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts.
providing housing and social care net of VAT.
Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Straight line over the life of the lease
Fixtures, fittings & equipment
15% reducing balance
STEPPING OUT SOCIAL CARE LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 4 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2014 & at 31 March 2015
62,491
Depreciation
At 1 April 2014
56,291
Charge for the year
2,867
At 31 March 2015
59,158
Net book value
At 31 March 2015
3,333
At 31 March 2014
6,200
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2