Jack Brown Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: SC108442 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 March 2016

for

Jack Brown Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

7

DIRECTORS:

J Brown

G Wilson

S Brown

SECRETARY:

Mrs G Shanks

REGISTERED OFFICE:

30 Elder Street

Edinburgh

Midlothian

EH1 3DX

REGISTERED NUMBER:

SC108442 (Scotland)

ACCOUNTANTS:

Douglas Home & Co Ltd

Chartered Accountants

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Intangible assets

2

157,646

166,919

Tangible assets

3

120,764

81,005

278,410

247,924

CURRENT ASSETS

Stocks

63,023

55,572

Debtors

27,740

30,953

Cash at bank and in hand

8,208

1,368

98,971

87,893

CREDITORS

Amounts falling due within one year

4

267,962

262,811

NET CURRENT LIABILITIES

(168,991

)

(174,918

)

TOTAL ASSETS LESS CURRENT LIABILITIES

109,419

73,006

CREDITORS

Amounts falling due after more than one year

4

79,561

104,806

NET ASSETS/(LIABILITIES)

29,858

(31,800

)

CAPITAL AND RESERVES

Called up share capital

5

82

82

Capital redemption reserve

18

18

Profit and loss account

29,758

(31,900

)

SHAREHOLDERS' FUNDS

29,858

(31,800

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 16 August 2016 and were signed on its behalf by:

S 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 goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

231,832

AMORTISATION

At 1 April 2015

64,913

Amortisation for year

9,273

At 31 March 2016

74,186

NET BOOK VALUE

At 31 March 2016

157,646

At 31 March 2015

166,919

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

245,403

Additions

63,296

At 31 March 2016

308,699

DEPRECIATION

At 1 April 2015

164,398

Charge for year

23,537

At 31 March 2016

187,935

NET BOOK VALUE

At 31 March 2016

120,764

At 31 March 2015

81,005

4.

CREDITORS

Creditors include an amount of £ 105,095 (31/3/15 - £ 136,592 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

31/3/16

31/3/15

value:

£

£

820

Share capital 1

0.10

82

82

6.	RELATED PARTY DISCLOSURES

During the year the company has purchased £64,138 (2015 £62,225) of materials on arms-length terms from

Scotlens Limited a company under the control of J G S Brown, a director of the company. At the balance sheet

date £10,164 (2015 £12,920) was owed by the company to Scotlens Limited. This balance is included within

trade creditors.

The cumulative loan balances at the year end of £nil due to the directors (2015: £10,000). These loans are

undated, unsecured with no fixed rate of interest.

7.	ULTIMATE CONTROLLING PARTY

The directors consider J S G Brown to be the ultimate controlling party by virtue of his shareholding.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to six) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Jack Brown Limited for the year ended 31 March 2016 which comprise the Profit and Loss

Account, 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Jack Brown 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 Jack Brown Limited and state those matters that we have agreed to state to the Board of Directors of Jack Brown Limited, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jack Brown 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 Jack Brown Limited. You consider that Jack Brown 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 Jack Brown 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.

Douglas Home & Co Ltd

Chartered Accountants

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

16 August 2016