Keith Brumfitt Limited - Period Ending 2014-12-31

Registration number: 08198595

Keith Brumfitt Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Keith Brumfitt Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Keith Brumfitt Limited
(Registration number: 08198595)
Abbreviated Balance Sheet at 31 December 2014

		Note			31 December 2014 £			31 December 2013 £
Fixed assets
Tangible fixed assets					1,056			1,638
Current assets
Debtors					27,409			40,002
Cash at bank and in hand					85,867			-
					113,276			40,002
Creditors: Amounts falling due within one year					(55,826)			(10,150)
Net current assets					57,450			29,852
Total assets less current liabilities					58,506			31,490
Provisions for liabilities					(47)			(153)
Net assets					58,459			31,337
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					58,359			31,237
Shareholders' funds					58,459			31,337

For the year ending 31 December 2014 the company was entitled to exemption from audit 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the director on 24 April 2015

K Brumfitt
 Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Keith Brumfitt Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... 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 April 2008).

Turnover

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

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
Office equipment	25% straight line basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Profit and loss account transactions in foreign currencies are translated into sterling at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the closing rates at the balance sheet date and the exchange differences are included in the profit and loss account.

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.

Page 2

Keith Brumfitt Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2014		2,328			2,328
At 31 December 2014		2,328			2,328
Depreciation
At 1 January 2014		690			690
Charge for the year		582			582
At 31 December 2014		1,272			1,272
Net book value
At 31 December 2014		1,056			1,056
At 31 December 2013		1,638			1,638

3	Share capital

Allotted, called up and fully paid shares

	31 December 2014						31 December 2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 3

Keith Brumfitt Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

4	Related party transactions

Director's advances and credits

	Year ended 31 December 2014 Advance/ Credit £	Year ended 31 December 2014 Repaid £	3 September 2012 to 31 December 2013 Advance/ Credit £	3 September 2012 to 31 December 2013 Repaid £
K Brumfitt
Director loan	26,003	46,198	75,699	55,504

Page 4