Company Registration No. 04038644 (England and Wales)
BROMSGROVE BOOKKEEPING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
PAGES FOR FILING WITH REGISTRAR
BROMSGROVE BOOKKEEPING LIMITED
COMPANY INFORMATION
Director
Mr C A McGrory
Company number
04038644
Registered office
Regency House
48 Birmingham Road
Bromsgrove
Worcestershire
B61 0DD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
The Royal Bank of Scotland Plc
55/56 Worcester Street
Kidderminster
Worcestershire
DY10 1EL
BROMSGROVE BOOKKEEPING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
BROMSGROVE BOOKKEEPING LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BROMSGROVE BOOKKEEPING LIMITED FOR THE YEAR ENDED 31 DECEMBER 2019
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bromsgrove Bookkeeping Limited for the year ended 31 December 2019 which comprise, the balance sheet and the related notes 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 http://www.icaew.com/en/members/regulations-standards-and-guidance.
This report is made solely to the Board of Directors of Bromsgrove Bookkeeping Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bromsgrove Bookkeeping Limited and state those matters that we have agreed to state to the Board of Directors of Bromsgrove Bookkeeping Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bromsgrove Bookkeeping Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Bromsgrove Bookkeeping Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bromsgrove Bookkeeping Limited. You consider that Bromsgrove Bookkeeping 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 financial statements of Bromsgrove Bookkeeping 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 financial statements.
Ormerod Rutter Limited
24 September 2020
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
BROMSGROVE BOOKKEEPING LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2019
31 December 2019
- 2 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,869
2,199
Current assets
Debtors
4
81,039
61,450
Cash at bank and in hand
23,860
5,780
104,899
67,230
Creditors: amounts falling due within one year
5
(94,283)
(62,069)
Net current assets
10,616
5,161
Total assets less current liabilities
12,485
7,360
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
12,385
7,260
Total equity
12,485
7,360
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 24 September 2020.
Mr C A McGrory
Director
Company Registration No. 04038644
BROMSGROVE BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2019
- 3 -
1
Accounting policies
Company information
Bromsgrove Bookkeeping Limited is a private company limited by shares incorporated in England and Wales. The registered office is Regency House, 48 Birmingham Road, Bromsgrove, Worcestershire, B61 0DD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
15% Reducing balance
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BROMSGROVE BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.5
Employee benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 11 (2018 - 13).
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 January 2019 and 31 December 2019
3,336
Depreciation and impairment
At 1 January 2019
1,137
Depreciation charged in the year
330
At 31 December 2019
1,467
Carrying amount
At 31 December 2019
1,869
At 31 December 2018
2,199
BROMSGROVE BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2019
- 5 -
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
79,267
59,792
Other debtors
1,772
1,658
81,039
61,450
5
Creditors: amounts falling due within one year
2019
2018
£
£
Trade creditors
53,421
17,026
Taxation and social security
39,233
42,880
Other creditors
1,629
2,163
94,283
62,069
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
90 Ordinary A of £1 each
90
90
5 Ordinary B of £1 each
5
5
5 Ordinary C of £1 each
5
5
100
100
7
Control
Ultimate parent company
Ormerod Rutter Holdings Limited is regarded by the director as being the company's ultimate parent company.
Ultimate controlling party
There is no ultimate controlling party, due to no controlling majority in the ultimate parent company.
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