COLIN_GWYN_WILLIAMS_LIMIT - Accounts
COLIN_GWYN_WILLIAMS_LIMIT - Accounts
Company Registration No. 08100783 (England and Wales)
FOR THE YEAR ENDED 31 MARCH 2015
COMPANY INFORMATION
Director
Company number
Registered office
6th Floor Cardinal House
20 St Mary's Parsonage
Manchester
M3 2LG
Accountants
Lopian Gross Barnett & Co
6th Floor Cardinal House
20 St Mary's Parsonage
Manchester
M3 2LG
CONTENTS
Page
Director's report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 7
DIRECTOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2015
- 1 -
The director presents his report and financial statements for the year ended 31 March 2015. The company became a member of Frank Marshall LLP on 4 February 2013.
Director
The following director has held office since 1 April 2014:
This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
On behalf of the board
Director
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COLIN GWYN WILLIAMS LIMITED FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Colin Gwyn Williams Limited for the year ended 31 March 2015 set out on pages 3 to 7 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, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.
This report is made solely to the Board of Directors of Colin Gwyn Williams Limited, as a body, in accordance with the terms of our engagement letter dated 9 July 2014. Our work has been undertaken solely to prepare for your approval the financial statements of Colin Gwyn Williams Limited and state those matters that we have agreed to state to the Board of Directors of Colin Gwyn Williams Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Colin Gwyn Williams Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Colin Gwyn Williams 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 Colin Gwyn Williams Limited. You consider that Colin Gwyn Williams 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 Colin Gwyn Williams 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.
Lopian Gross Barnett & Co
Chartered Accountants
6th Floor
Cardinal House
20 St Mary's Parsonage
Manchester
M3 2LG
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2015
2014
Notes
£
£
Turnover
Administrative expenses
(2,010 )
Operating profit
2
Interest payable and similar charges
(3 )
-
Profit on ordinary activities before taxation
Tax on profit on ordinary activities
3
(33,604 )
(26,901 )
Profit for the year
8
BALANCE SHEET
AS AT
31 MARCH 2015
- 4 -
2015
2014
Notes
£
£
£
£
Fixed assets
Investments
4
Current assets
Debtors
5
-
-
Creditors: amounts falling due within one year
6
(115,178 )
(144,611 )
Net current assets/(liabilities)
(144,611 )
Total assets less current liabilities
Capital and reserves
Called up share capital
7
Profit and loss account
8
Shareholders' funds
Director's responsibilities:
-
-
Approved by the Board for issue on 10 March 2016
Director
Company Registration No. 08100783
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
- 5 -
1
Accounting policies
1.1
Accounting convention
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
1.4
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
2
Operating profit
2015
2014
£
£
Operating profit is stated after charging:
Profit on sale of fixed aset investment
(168,273)
-
3
Taxation
2015
2014
£
£
Domestic current year tax
U.K. corporation tax
Total current tax
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 6 -
4
Fixed asset investments
Unlisted investments
£
Cost
At 1 April 2014
227,221
Cost of investment sold
(151,800)
Share of profits
18,322
Distributions received
(65,063)
At 31 March 2015
28,680
Net book value
At 31 March 2015
At 31 March 2014
Holdings of more than 20%
The company holds more than 20% of the share capital of the following companies:
Company
Country of registration or
Shares held
incorporation
Class
%
Participating interests
Member
The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:
Capital and reserves
Profit/(loss) for the year
2015
2015
Principal activity
£
£
361,791
79,663
The interest in the LLP business was disposed of on 10 August 2014.
5
Debtors
2015
2014
£
£
Other debtors
-
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 7 -
6
Creditors: amounts falling due within one year
2015
2014
£
£
Bank loans and overdrafts
Taxation and social security
Other creditors
7
Share capital
2015
2014
£
£
Allotted, called up and fully paid
8
Statement of movements on profit and loss account
Profit
and loss
account
and loss
account
£
Balance at 1 April 2014
Profit for the year
Balance at 31 March 2015
9
Control
The director controls the company through his 100% shareholding
10
Related party relationships and transactions
At the balance sheet date the company owed to the director £80,135, which is reflected in other creditors on the balance sheet.
The goodwill in Frank Marshall LLP was disposed of for £320k on 10 August 2014 along with the interest in the business. The proceeds to be received is reflected on the balance sheet in other debtors. The purchaser was Wright Marshall Limited a company in which the director has an interest.
MANAGEMENT INFORMATION
FOR THE YEAR ENDED 31 MARCH 2015
SCHEDULE OF ADMINISTRATIVE EXPENSES
FOR THE YEAR ENDED 31 MARCH 2015
2015
2014
£
£
Administrative expenses
Use of Home
1,200
1,200
Accountancy
780
780
Bank charges
30
30
Sundry expenses - allowable
13
-
Profits/losses on disp of tangibles
(168,273)
-
(166,250 )