Town & City Secretaries Ltd - Limited company accounts 11.6

REGISTERED NUMBER: 06247712 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2014

FOR

TOWN & CITY SECRETARIES LTD

Page

Company Information

1

Report of the Directors

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

P W Bigge

Mrs S E Johnson

SECRETARY:

Mrs S E Johnson

REGISTERED OFFICE:

2nd Floor North Point

Faverdale North

Darlington

Co. Durham

DL3 0PH

REGISTERED NUMBER:

06247712 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2014.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of the placing and administration of insurance

policies on behalf of client organisations.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2014 to the date of this

report.

P W Bigge

Mrs S E Johnson

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

P W Bigge - Director

10th February 2015

TURNOVER

53,266

-

Administrative expenses

1,301

3

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION

2

51,965

(3

)

Tax on profit/(loss) on ordinary activities

3

10,394

-

PROFIT/(LOSS) FOR THE FINANCIAL YEAR

41,571

(3

)

CURRENT ASSETS

Debtors

5

12,020

-

Cash at bank

127

202

12,147

202

CREDITORS

Amounts falling due within one year

6

10,574

200

NET CURRENT ASSETS

1,573

2

TOTAL ASSETS LESS CURRENT LIABILITIES

1,573

2

CAPITAL AND RESERVES

Called up share capital

7

1

1

Profit and loss account

8

1,572

1

SHAREHOLDERS' FUNDS

1,573

2

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 10th February 2015 and were signed on its behalf by:

P W Bigge - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	OPERATING PROFIT/(LOSS)

The operating profit (2013 - operating loss) is stated after charging:

31/12/14

31/12/13

£

£

Directors' remuneration and other benefits etc

-

-

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

31/12/14

31/12/13

£

£

Current tax:

UK corporation tax

10,394

-

Tax on profit/(loss) on ordinary activities

10,394

-

4.

DIVIDENDS

31/12/14

31/12/13

£

£

Ordinary share of £1

Final

40,000

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/14

31/12/13

£

£

Trade debtors

71

-

Amount due from Parent Company

11,949

-

12,020

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/14

31/12/13

£

£

Tax

10,394

-

Amount due to associated company

-

200

Accrued expenses

180

-

10,574

200

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/14

31/12/13

value:

£

£

1

Ordinary

£1

1

1

8.

RESERVES

Profit

and loss

account

£

At 1st January 2014

1

Profit for the year

41,571

Dividends

(40,000

)

At 31st December 2014

1,572

9.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2014 (2013 - nil).

10.	CAPITAL COMMITMENTS

31/12/14

31/12/13

£

£

Contracted but not provided for in the

financial statements

-

-

11.	ULTIMATE CONTROLLING PARTY

The parent company is Town & City Management Ltd, a company registered in England and Wales. Town &

City Management Ltd acquired the whole of the issued share capital in the company from Mr P W Bigge during

the year.

The ultimate controlling party is Mr P W Bigge who owns the whole of the issued share capital in Town & City

Management Ltd. Mr P W Bigge and Mrs S E Johnson are also directors of Town & City Management Ltd.