ACCOUNTS - Final Accounts

RICHARD BROWN CONSULTANT LIMITED - Company Information

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Registered number: 08389348

RICHARD BROWN CONSULTANT LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2020

RICHARD BROWN CONSULTANT LIMITED

REGISTERED NUMBER: 08389348

BALANCE SHEET

AS AT 31 MARCH 2020

		2020		2019
Note		£		£


Current assets
Debtors: amounts falling due within one year	7	166		-
Cash at bank and in hand	8	24,059		14,961
		24,225		14,961
Creditors: amounts falling due within one year	9	(9,451)		(7,778)
Net current assets			14,774		7,183
Total assets less current liabilities			14,774		7,183

Net assets			14,774		7,183

Capital and reserves
Called up share capital	100	100
Profit and loss account	14,674	7,083
	14,774	7,183

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

R J Brown

Director

Date: 12 May 2020

The notes on pages 2 to 6 form part of these financial statements.

Page 1

RICHARD BROWN CONSULTANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.	General information

Richard Brown Consultant Limited is a limited liability company incorporated and domiciled in England.
The address of it's registered office is:
11 Centre Court
Vine Lane
Halesowen
West Midlands
B63 3EB
The principal activities of the company are management consultancy services.
The financial statements have been prepared on a going concern basis under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in Sterling (£) which is the functional currency of the company. The financial statements are for the year ended 31 March 2020 (2019: year ended 31 March 2019).
The following principal accounting policies have been applied:

2.Accounting policies

2.1

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.2

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 2

RICHARD BROWN CONSULTANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other

Page 3

RICHARD BROWN CONSULTANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.8

Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.

2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 - 2).

4.	Dividends
		2020	2019
		£	£

	Dividends paid	18,500	17,000
		18,500	17,000

5.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2019	10,000
	At 31 March 2020	10,000
	Amortisation
	At 1 April 2019	10,000
	At 31 March 2020	10,000
	Net book value
	At 31 March 2020	-
	At 31 March 2019	-

Page 4

RICHARD BROWN CONSULTANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

6.	Tangible fixed assets

		Office equipment
		£
	Cost or valuation
	At 1 April 2019	363
	At 31 March 2020	363
	Depreciation
	At 1 April 2019	363
	At 31 March 2020	363
	Net book value
	At 31 March 2020	-
	At 31 March 2019	-

Page 5

RICHARD BROWN CONSULTANT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

Debtors

					2020	2019
					£	£


Other debtors	166	-
	166	-

8.	Cash and cash equivalents
		2020	2019
		£	£

Cash at bank and in hand	24,059	14,961
	24,059	14,961

9.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Corporation tax	6,320	5,824
Other taxation and social security	-	25
Other creditors	425	129
Accruals and deferred income	2,706	1,800
	9,451	7,778

Page 6