Browns Estate Agency Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 03681684 (England and Wales)

Abbreviated Accounts

for the Year Ended 31 December 2015

for

Browns Estate Agency Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C G Brown

P F P Brown

R C Cruddas

C P Holmstrom

S J Brown

SECRETARY:

P F P Brown

REGISTERED OFFICE:

6 Innovation Court

Yarm Road

STOCKTON ON TEES

Cleveland

TS18 3DA

REGISTERED NUMBER:

03681684 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

140 Coniscliffe Road

DARLINGTON

Co Durham

DL3 7RT

FIXED ASSETS

Tangible assets

2

28,475

29,441

CURRENT ASSETS

Stocks

1,750

1,750

Debtors

79,036

81,897

Cash at bank and in hand

209,289

188,240

290,075

271,887

CREDITORS

Amounts falling due within one year

303,890

292,885

NET CURRENT LIABILITIES

(13,815

)

(20,998

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,660

8,443

PROVISIONS FOR LIABILITIES

2,781

2,684

NET ASSETS

11,879

5,759

CAPITAL AND RESERVES

Called up share capital

3

1,000

1,000

Profit and loss account

10,879

4,759

SHAREHOLDERS' FUNDS

11,879

5,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 19 April 2016 and were signed on its behalf by:

C G Brown - 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 January 2015).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Office equipment

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Grants receivable

Revenue based grants are credited to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

88,520

Additions

5,070

Disposals

(7,861

)

At 31 December 2015

85,729

DEPRECIATION

At 1 January 2015

59,079

Charge for year

5,237

Eliminated on disposal

(7,062

)

At 31 December 2015

57,254

NET BOOK VALUE

At 31 December 2015

28,475

At 31 December 2014

29,441

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

800

Ordinary

£1

800

800

200

'A' Ordinary Non-Voting

£1

200

200

1,000

1,000

The Ordinary and 'A' Ordinary Non-Voting shares shall constitute different classes of shares for the purposes of

the Companies Act 2006 but shall, save as otherwise provided for, confer upon the holders thereof the same

rights and rank pari passu in all respects except that the directors shall be entitled to pay such different dividend

of the shares Ordinary and 'A' Ordinary Non-Voting shares as they shall from time to time decide.