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Published by Prosper Group, 2018-06-21 05:57:17

Prosper Group Financials 2017

Prosper Group Financials 2017

Financial
Statements

2017



Company Number: 558553

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

Directors' Report and Consolidated Financial Statements

for the year ended 31 December 2017

Prosper Social Care Services CLG Page
3
(A company limited by guarantee, without a share capital) 4
5
CONTENTS
6-7
Directors and Other Information 8
Directors' Report 9
Directors' Responsibilities Statement
Independent Auditor's Report 10
Appendix to the Independent Auditor's Report 11
Consolidated Income and Expenditure Account 12
Consolidated Balance Sheet 13
Company Balance Sheet 14 - 19
Consolidated Reconciliation of Members' Funds
Consolidated Cash Flow Statement
Notes to the Financial Statements

2

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

DIRECTORS AND OTHER INFORMATION

Directors Paula Carey (Appointed 27 June 2017)
John Delany
Mary Dowling
Noel Hickey
Dr. Mary Murphy
Kitty O'Connor
Seamus Smyth
Mary Walsh

Company Secretary Mary Dowling

Company Number 558553

Registered Office Strand Street,
Skerries,
Co. Dublin.

Auditors OMAC Management Services Limited t/a W.O.McGrory
& Company
Certified Public Accountants and Statutory Audit Firm
Carlington Lodge
Dublin Road
Drogheda
Co. Louth
A92 Y38R
Republic of Ireland

3

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

DIRECTORS' REPORT

for the year ended 31 December 2017

The directors present their report and the audited financial statements for the year ended 31 December 2017.

Principal Activity and Review of the Business
Property rental and management

The Company is limited by guarantee not having a share capital.

There has been no significant change in these activities during the year ended 31 December 2017.

Principal Risks and Uncertainties
The company's operations may expose it to financial risk which includes liquidity risk. In order to minimise this risk
the company will maintain sufficient funds to meet obligations as they fall due.

Financial Results
The surplus for the year after providing for depreciation amounted to €260,663 (2016 - €191,774).

At the end of the year, the company has assets of €13,970,611 (2016 - €13,555,535) and liabilities of €6,783,994
(2016 - €6,629,469). The net assets of the company have increased by €260,551.

Directors and Secretary
The directors who served throughout the year, except as noted, were as follows:

Paula Carey (Appointed 27 June 2017)
John Delany
Mary Dowling
Noel Hickey
Dr. Mary Murphy
Kitty O'Connor
Seamus Smyth
Mary Walsh

The secretary who served throughout the year was Mary Dowling.

Future Developments
The company plans to continue its present activities and current trading levels.

Auditors
The auditors, OMAC Management Services Limited t/a W.O.McGrory & Company, (Certified Public Accountants)
have indicated their willingness to continue in office in accordance with the provisions of section 383(2) of the
Companies Act 2014.

Accounting Records
To ensure that adequate accounting records are kept in accordance with sections 281 to 285 of the Companies Act
2014, the directors have established appropriate books to adequately record the transactions of the company. The
directors also ensure that the company retains the source documentation for these transactions. The accounting
records are maintained at the company's office at Strand Street, Skerries, Co. Dublin.

Signed on behalf of the board Mary Dowling
Director
Dr. Mary Murphy
Director 30 April 2018

30 April 2018

4

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

DIRECTORS' RESPONSIBILITIES STATEMENT

for the year ended 31 December 2017

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with
applicable Irish law and regulations.

Irish company law requires the directors to prepare financial statements for each financial year. Under the law the
directors have elected to prepare the financial statements in accordance with the Companies Act 2014 and FRS 102
"The Financial Reporting Standard applicable in the UK and Republic of Ireland" issued by the Financial Reporting
Council. Under company law, the directors must not approve the financial statements unless they are satisfied that
they give a true and fair view of the assets, liabilities and financial position of the company as at the financial year
end date and of the surplus or deficit of the company for the financial year and otherwise comply with the Companies
Act 2014.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies for the company financial statements and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- state whether the financial statements have been prepared in accordance with applicable accounting standards,

identify those standards, and note the effect and the reasons for any material departure from those standards;
and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
company will continue in business.

The directors are responsible for ensuring that the company keeps or causes to be kept adequate accounting records
which correctly explain and record the transactions of the company, enable at any time the assets, liabilities, financial
position and surplus or deficit of the company to be determined with reasonable accuracy and enable them to ensure
that the financial statements and Directors' Report comply with the Companies Act 2014 and enable the financial
statements to be audited. They are also responsible for safeguarding the assets of the company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the directors are aware:
- there is no relevant audit information (information needed by the company's auditor in connection with preparing

the auditor's report) of which the company's auditor is unaware, and
- the directors have taken all the steps that they ought to have taken to make themselves aware of any relevant

audit information and to establish that the company's auditor is aware of that information.

Signed on behalf of the board Mary Dowling
Director
Dr. Mary Murphy
Director 30 April 2018

30 April 2018

5

INDEPENDENT AUDITOR'S REPORT

to the Members of Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

Report on the audit of the financial statements

Opinion
We have audited the group and parent company financial statements of Prosper Social Care Services CLG ('the
group') and its subsidiaries ('the group') for the year ended 31 December 2017 which comprise the Group Income
and Expenditure Account, the Group Balance Sheet, the Company Balance Sheet, the Group Reconciliation of
Members' Funds, the Group Cash Flow Statement and the related notes to the financial statements, including a
summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied
in their preparation is Irish Law and FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of
Ireland”.

In our opinion the financial statements:
- give a true and fair view of the assets, liabilities and financial position of the group and parent company as at 31

December 2017 and of the group's surplus for the year then ended;
- have been properly prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the

UK and Republic of Ireland"; and
- have been properly prepared in accordance with the requirements of the Companies Act 2014.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the
audit of the financial statements section of our report. We are independent of the group in accordance with ethical
requirements that are relevant to our audit of financial statements in Ireland, including the Ethical Standard issued by
the Irish Auditing and Accounting Supervisory Authority (IAASA), and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
We have nothing to report in respect of the following matters in relation to which ISAs (Ireland) require us to report to
you where:
- the directors' use of the going concern basis of accounting in the preparation of the financial statements is not

appropriate; or
- the directors have not disclosed in the financial statements any identified material uncertainties that may cast

significant doubt about the group's ability to continue to adopt the going concern basis of accounting for a period
of at least twelve months from the date when the financial statements are authorised for issue.

Other Information
The directors are responsible for the other information. The other information comprises the information included in
the annual report other than the financial statements and our Auditor's Report thereon. Our opinion on the financial
statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we
do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit, or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the work we
have performed, we conclude that there is a material misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2014
Based solely on the work undertaken in the course of the audit, we report that:
- the information given in the Directors' Report for the financial year for which the financial statements are prepared

is consistent with the financial statements; and
- in our opinion, the Directors' Report has been prepared in accordance with the Companies Act 2014.
We have obtained all the information and explanations which we consider necessary for the purposes of our audit.
In our opinion the accounting records of the company were sufficient to permit the financial statements to be readily
and properly audited. The financial statements are in agreement with the accounting records.

Matters on which we are required to report by exception
Based on the knowledge and understanding of the group and the parent company and its environment obtained in
the course of the audit, we have not identified any material misstatements in the Directors' Report. The Companies
Act 2014 requires us to report to you if, in our opinion, the disclosures of directors' remuneration and transactions
required by sections 305 to 312 of the Act are not made. We have nothing to report in this regard.

6

INDEPENDENT AUDITOR'S REPORT

to the Members of Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)
Respective responsibilities
Responsibilities of directors for the financial statements
As explained more fully in the Directors' Responsibilities Statement, the directors are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as
they determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group's ability to continue as a
going concern, disclosing, as applicable, matters related to the going concern and using the going concern basis of
accounting unless management either intends to liquidate the group or to cease operation, or has no realistic
alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion.
Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAs (Ireland) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is contained in the appendix to this
report, located at page 8, which is to be read as an integral part of our report.
The purpose of our audit work and to whom we owe our responsibilities
Our report is made solely to the group's members, as a body, in accordance with section 391 of the Companies Act
2014. Our audit work has been undertaken so that we might state to the group's members those matters we are
required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we
do not accept or assume any responsibility to anyone other than the group and the group's members, as a body, for
our audit work, for this report, or for the opinions we have formed.

__________________________________
OMAC MANAGEMENT SERVICES LIMITED T/A W.O.MCGRORY & COMPANY
Certified Public Accountants and Statutory Audit Firm
Carlington Lodge
Dublin Road
Drogheda
Co. Louth
A92 Y38R
Republic of Ireland
30 April 2018

7

Prosper Social Care Services CLG

APPENDIX TO THE INDEPENDENT AUDITOR'S REPORT

Further information regarding the scope of our responsibilities as auditor
As part of an audit in accordance with ISAs (Ireland), we exercise professional judgement and maintain professional
scepticism throughout the audit. We also:
- Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to

fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
group and the parent company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the directors.
- Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the
audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the group and the parent company's ability to continue as going concerns. If we conclude that
a material uncertainty exists, we are required to draw attention in our Auditor's Report to the related disclosures in
the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based
on the audit evidence obtained up to the date of our Auditor's Report. However, future events or conditions may
cause the group and the parent company to cease to continue as going concerns.
- Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and
whether the financial statements represent the underlying transactions and events in a manner that achieves fair
presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify
during our audit.

8

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT

for the year ended 31 December 2017

Notes 2017 2016
€ €

Income 3 11,591,853 11,001,382

Expenditure (11,317,354) (10,803,234)
Surplus before interest ───────
───────
274,499 198,148

Interest payable and similar expenses 5 (13,836) (6,374)
Surplus for the year ───────
Total Comprehensive Income ───────
260,663 191,774
───────
───────
260,663 191,774
═══════
═══════

Approved by the board on 30 April 2018 and signed on its behalf by:

Dr. Mary Murphy Mary Dowling
Director Director

The notes on pages 14 to 19 form part of the financial statements 9

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

CONSOLIDATED BALANCE SHEET

as at 31 December 2017

Fixed Assets Notes 2017 2016
Tangible assets 8 € €

Current Assets 9 12,647,240 12,883,574
Debtors ─────── ───────
Cash and cash equivalents
281,254 237,155
Creditors: Amounts falling due within one year 10 1,042,117 434,806
─────── ───────
Net Current Assets/(Liabilities) 11 1,323,371 671,961
14 ─────── ───────
Total Assets less Current Liabilities (1,201,890) (1,092,911)
─────── ───────
Creditors (420,950)
Amounts falling due after more than one year 121,481 ───────
─────── 12,462,624
Government grants 12,768,721
(118,179)
Net Assets (318,236)
(5,418,378)
Reserves (5,263,868) ───────
Capital reserves and funds ─────── 6,926,067
Income and expenditure account 7,186,617 ═══════
═══════
Members' Funds 1,549,248
1,549,248 5,376,819
5,637,369 ───────
─────── 6,926,067
7,186,617 ═══════
═══════

Approved by the board on 30 April 2018 and signed on its behalf by:

Dr. Mary Murphy Mary Dowling
Director Director

The notes on pages 14 to 19 form part of the financial statements 10

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

COMPANY BALANCE SHEET

as at 31 December 2017

Notes 2017 2016
€ €
Reserves
Members' Funds - -
═══════ ═══════

Approved by the board on 30 April 2018 and signed on its behalf by:

Dr. Mary Murphy Mary Dowling
Director Director

The notes on pages 14 to 19 form part of the financial statements 11

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

CONSOLIDATED RECONCILIATION OF MEMBERS' FUNDS

as at 31 December 2017

Retained Special Members Total
surplus
reserve funds

€€€ €

At 1 January 2016 5,185,044 1,549,248 6,734,292 6,734,292
Surplus for the year
At 31 December 2016 ─────── ─────── ─────── ───────
Surplus for the year 191,774 - 191,774 191,774
At 31 December 2017
─────── ─────── ─────── ───────
5,376,706 1,549,248 6,926,067 6,925,954

─────── ─────── ─────── ───────
260,663 - 260,663 260,663

─────── ─────── ─────── ───────
5,637,369 1,549,248 7,186,617 7,186,617

═══════ ═══════ ═══════ ═══════

12

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 December 2017

Notes 2017 2016
€ €
Cash flows from operating activities
Surplus for the year 260,663 191,774
Adjustments for:
Interest payable and similar expenses 13,836 6,374
Depreciation 578,973 610,556
Surplus/deficit on disposal of tangible fixed assets
Amortisation of government grants (4,302) -
(179,510) (179,290)
Movements in working capital: ─────── ───────
Movement in debtors 669,660 629,414
Movement in creditors
(44,099) (15,105)
Cash generated from operations 171,784 (48,429)
Interest paid ─────── ───────
797,345 565,880
Net cash generated from operating activities (13,836)
─────── (6,374)
Cash flows from investing activities 783,509 ───────
Payments to acquire tangible fixed assets ───────
Receipts from sales of tangible fixed assets 559,506
(347,188) ───────
Net cash used in investment activities 19,000
(1,269,930)
Cash flows from financing activities ─────── 20,468
New long term loan (328,188)
New short term loan ───────
Repayment of short term loan ─────── (1,249,462)
Capital element of finance lease and hire purchase contracts ───────
Advances to subsidiaries/group companies 237,746
Advances from subsidiaries/group companies 28,200 (138,691)
Government grants (97,571) 2,752
(41,258) -
Net cash generated from financing activities
(194,293) (22,035)
Net increase/(decrease) in cash and cash equivalents 18 194,293 -
Cash and cash equivalents at beginning of financial year -
25,000
Cash and cash equivalents at end of financial year ─────── 510,000
───────
152,117
─────── 352,026
───────
607,438
428,851 (337,930)
─────── 766,781
1,036,289 ───────
═══════ 428,851
═══════

13

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2017

1. GENERAL INFORMATION

Prosper Social Care Services CLG is a company limited by guarantee incorporated in Republic of Ireland
Strand Street, Skerries, Co. Dublin., is the registered office, which is also the principal place of business of
the company. The nature of the company’s operations and its principal activities are set out in the Directors'
Report. The financial statements have been presented in Euro (€) which is also the functional currency of the
company.

2. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered
material in relation to the company’s financial statements.

Statement of compliance
The financial statements of the company for the year ended 31 December 2017 have been prepared on the
going concern basis and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK
and Republic of Ireland” (FRS 102).

Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the
historical cost convention except for certain properties and financial instruments that are measured at
revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally
based on the fair value of the consideration given in exchange for assets. The financial reporting framework
that has been applied in their preparation is the Companies Act 2014 and FRS 102 “The Financial Reporting
Standard applicable in the UK and Republic of Ireland” issued by the Financial Reporting Council.

Income
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and
value added tax.

Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to
depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated
residual value, over their expected useful lives as follows:

Land and buildings freehold - 2% Straight line
Long leasehold property - 2% Straight line
Plant and machinery - 20% Straight line
Fixtures, fittings and equipment - 20% and 33.33% Straight line
Motor vehicles - 25% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or
changes in circumstances indicate the carrying value may not be recoverable.

Leasing and hire purchases
Tangible fixed assets held under leasing and Hire Purchases arrangements which transfer substantially all
the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their
cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in
respect of these obligations are treated as consisting of capital and interest elements, with interest charged to
the Income and Expenditure Account.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the
effective interest method less impairment losses for bad and doubtful debts except where the effect of
discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for
bad and doubtful debts.

Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to
the cost of assets being acquired. Investment income earned on the temporary investment of specific
borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for
capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are
incurred.

14

Prosper Social Care Services CLG continued

(A company limited by guarantee, without a share capital)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2017

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using
the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are
stated at cost.

Taxation
The company has not yet commenced trading and therefore no taxation issues arise.

Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income and
Expenditure Account annually over the useful economic life of the asset to which it relates. Revenue grants
are credited to the Income and Expenditure Account when received.

Basis of consolidation
The consolidated financial statements include the financial statements of the holding company and all its
subsidiary companies made up to 31 December 2017.

3. INCOME

The whole of the company's income is attributable to its market in the Republic of Ireland and is derived from
the principal activity of property management and rental

4. OPERATING SURPLUS 2017 2016
€ €
Operating surplus is stated after charging/(crediting):
Depreciation of tangible fixed assets 578,973 610,556
Surplus on disposal of tangible fixed assets (4,302) -
Amortisation of Government grants
(179,510) (179,290)
5. INTEREST PAYABLE AND SIMILAR EXPENSES
═══════ ═══════

2017 2016
€ €

On bank loans and overdrafts 10,160 2,098
Hire purchase interest 3,676 4,276

6. EMPLOYEES AND REMUNERATION ─────── ───────
13,836 6,374

═══════ ═══════

Number of employees
The average number of persons employed (including executive directors) during the year was as follows:

2017 2016
Number Number

Front line staff - less than €60,000 188 185
Salary band €60,001 to €70,000 8 6
Salary band €70,001 to €80,000 5 5
Salary band €90,001 to €100,000 1 1
Salary band €110,001 to €120,000 1 1

─────── ───────
203 198

═══════ ═══════

The staff costs comprise: 2017 2016
€ €

Wages and salaries 6,817,415 6,601,456
Social welfare costs 734,475 706,840
Pension costs 409,103 368,200

─────── ───────
7,960,993 7,676,496

═══════ ═══════
15

Prosper Social Care Services CLG continued

(A company limited by guarantee, without a share capital)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2017

7. SURPLUS ATTRIBUTABLE TO MEMBERS OF THE PARENT COMPANY

In accordance with section 304 of the Companies Act 2014 a separate Income and Expenditure Account for
the company has not been presented in these financial statements. The surplus dealt with in the financial
statements of the parent company was €0 (2016, €0).

16

Prosper Social Care Services CLG

(A company limited by guarantee, without a share capital)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2017

8. TANGIBLE FIXED ASSETS
Group

Cost
At 1 January 2017
Additions
Disposals
Transfers

At 31 December 2017

Depreciation
At 1 January 2017
Charge for the year
On disposals
Transfers

At 31 December 2017

Net book value
At 31 December 2017

At 31 December 2016

Land and Long Plant and Fixtures, Motor Total
buildings leasehold machinery fittings and vehicles €
freehold equipment
property € €
€ € €

14,055,900 2,015,971 1,465,593 566,798 905,732 19,009,994
318,023 - 39,314 - - 357,337
- - - - (44,096)
(169,915) - - (44,096) -
169,915 -
─────── ─────── ─────── ───────
14,204,008 ─────── 1,504,907 566,798 ─────── 19,323,235
2,185,886 861,636
─────── ─────── ─────── ───────
─────── ───────

2,866,884 631,061 1,331,330 569,480 727,665 6,126,420
326,146 71,197 129,258 (9,355) 61,727 578,973
- - - - (29,398) (29,398)
44,783 (44,783) - - - -

─────── ─────── ─────── ─────── ─────── ───────
3,237,813 657,475 1,460,588 560,125 759,994 6,675,995

─────── ─────── ─────── ─────── ─────── ───────

10,966,195 1,528,411 44,319 6,673 101,642 12,647,240

═══════ ═══════ ═══════ ═══════ ═══════ ═══════
11,189,016 1,384,910 134,263 (2,682) 178,067 12,883,574
═══════ ═══════ ═══════
═══════ ═══════ ═══════

17

Prosper Social Care Services CLG 2017 2016
€ €
(A company limited by guarantee, without a share capital)
125,013 97,666
NOTES TO THE FINANCIAL STATEMENTS 156,241 139,489
─────── ───────
for the year ended 31 December 2017 281,254 237,155
9. DEBTORS ═══════ ═══════

Group 2017 2016
Other debtors € €
Prepayments
70,141 139,639
10. CREDITORS
Amounts falling due within one year 46,026 39,333
Group 314,641 237,292
Amounts owed to credit institutions 181,654 163,288
Net obligations under finance leases
and hire purchase contracts 69,329 -
Trade creditors 520,099 513,359
Taxation (Note 12) ─────── ───────
Other creditors 1,201,890 1,092,911
Accruals ═══════ ═══════

11. CREDITORS 2017 2016
Amounts falling due after more than one year € €
Group
Bank loan 277,538 39,680
Finance leases and hire purchase contracts 40,698 78,499

Loans ─────── ───────
Repayable in one year or less, or on demand (Note 10) 318,236 118,179
Repayable between one and two years
Repayable between two and five years ═══════ ═══════
Repayable in five years or more
70,141 139,639
Net obligations under finance leases 28,200 39,680
and hire purchase contracts 112,800 -
Repayable within one year 136,538 -
Repayable between one and five years
─────── ───────
12. TAXATION 347,679 179,319
Group
Creditors: ═══════ ═══════
PAYE
46,026 39,333
13. FINANCIAL INSTRUMENTS 40,698 78,500
None ─────── ───────
86,724 117,833
═══════ ═══════

2017 2016
€ €

181,654 163,288

═══════ ═══════

18

Prosper Social Care Services CLG continued

(A company limited by guarantee, without a share capital)

NOTES TO THE FINANCIAL STATEMENTS

for the year ended 31 December 2017

14. GOVERNMENT GRANTS DEFERRED 2017 2016
Group € €

At 1 January 2017 5,999,514 5,489,514
Increase in year 25,000 510,000

─────── ───────

At 31 December 2017 6,024,514 5,999,514
─────── ───────
Amortisation
At 1 January 2017 (581,136) (401,867)
Amortised in year (179,510) (179,269)
─────── ───────

At 31 December 2017 (760,646) (581,136)
─────── ───────
Net book value
At 31 December 2017 5,263,868 5,418,378
═══════
At 1 January 2017 ═══════ 5,087,647
5,418,378 ═══════

═══════

15. STATUS

The liability of the members is limited.

Every member of the company undertakes to contribute to the assets of the company in the event of its being
wound up while they are members, or within one year thereafter, for the payment of the debts and liabilities of
the company contracted before they ceased to be members, and of the costs, charges and expenses of
winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may
be required, not exceeding € 1.

Company

The company had no material capital commitments at the year-ended 31 December 2017.

17. RELATED PARTY TRANSACTIONS

Seamus Smyth and Kitty O'Connor are members of the board of directors and are directors of Portmarnock
Arch Club Limited. During the year Portmarnock Arch Club Limited received €44,907 for services provided.

John Delany is a member of the board of directors and is a director of Ablevision Ireland Limited. During the
year Ablevision Ireland Limited received €1,040 for services provided.

Mary Walsh is a member of the board of directors and is also connected with the Riding for the Disabled
Association. During the year Riding for the Disabled Association received €7,200 for services provided.

18. CASH AND CASH EQUIVALENTS 2017 2016
€ €

Cash and bank balances 1,042,117 434,806
Bank overdrafts (5,828) (5,955)

─────── ───────
1,036,289 428,851

═══════ ═══════

19. APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved and authorised for issue by the board of directors on 30 April 2018.

19






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