P & M Homecare Limited - Period Ending 2016-05-31

Registration number: 06239123

P & M Homecare Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016
 

E J Business Consultants Limited
The Rectory
Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

P & M Homecare Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
P & M Homecare Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of P & M Homecare Limited for the year ended 31 May 2016 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of P & M Homecare Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of P & M Homecare Limited and state those matters that we have agreed to state to them, 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 P & M Homecare Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that P & M Homecare Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of P & M Homecare Limited. You consider that P & M Homecare Limited 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 accounts of P & M Homecare Limited. 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 accounts.

......................................

E J Business Consultants Limited
The Rectory
Toomers Wharf
Canal Walk
Newbury
Berkshire
RG14 1DY

26 September 2016

Page 1

P & M Homecare Limited
(Registration number: 06239123)
Abbreviated Balance Sheet at 31 May 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					11,068			6,590
Current assets
Debtors					194,616			135,117
Cash at bank and in hand					4,719			2
					199,335			135,119
Creditors: Amounts falling due within one year					(174,795)			(135,197)
Net current assets/(liabilities)					24,540			(78)
Net assets					35,608			6,512
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					34,608			5,512
Shareholders' funds					35,608			6,512

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 26 September 2016 and signed on its behalf by:

.........................................
Mr P A Miles
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

P & M Homecare Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value,
over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Franchise fee	5 years straight line

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated
residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	3 years straight line
Equipment	2 years straight line
Property improvements	5 years straight line

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

P & M Homecare Limited
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 June 2015		32,866			24,731			57,597
Additions		-			21,010			21,010
Disposals		-			(9,050)			(9,050)
At 31 May 2016		32,866			36,691			69,557
Depreciation
At 1 June 2015		32,866			18,141			51,007
Charge for the year		-			13,732			13,732
Eliminated on disposals		-			(6,250)			(6,250)
At 31 May 2016		32,866			25,623			58,489
Net book value
At 31 May 2016		-			11,068			11,068
At 31 May 2015		-			6,590			6,590

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due within one year		-			39,975

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 4