Gavin Tansey Financial Services Ltd - Period Ending 2016-10-31

Registration number: 7048028

Gavin Tansey Financial Services Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

McParland Williams Limited
Accountants and Tax Practitioners
13 Liverpool Road North
Maghull
Merseyside
L31 2HB

Gavin Tansey Financial Services Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Gavin Tansey Financial Services Ltd
(Registration number: 7048028)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					6,500			7,000
Tangible fixed assets					4,815			995
					11,315			7,995
Current assets
Debtors					3,925			11,647
Cash at bank and in hand					15,003			2,411
					18,928			14,058
Creditors: Amounts falling due within one year					(16,919)			(12,439)
Net current assets					2,009			1,619
Total assets less current liabilities					13,324			9,614
Provisions for liabilities					(963)			(199)
Net assets					12,361			9,415
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					12,261			9,315
Shareholders' funds					12,361			9,415

For the year ending 31 October 2016 the company was entitled to exemption 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 director acknowledges his 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 .

Approved by the director on 28 November 2016

.........................................
Mr Gavin Trevor Tansey
Director

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

Gavin Tansey Financial Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... 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 January 2015).

Turnover

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

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	straight line over 20 years

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% reducing balance

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.

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

Gavin Tansey Financial Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... 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

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2015		10,000			2,607			12,607
Additions		-			5,643			5,643
Disposals		-			(687)			(687)
At 31 October 2016		10,000			7,563			17,563
Depreciation
At 1 November 2015		3,000			1,612			4,612
Charge for the year		500			1,605			2,105
Eliminated on disposals		-			(469)			(469)
At 31 October 2016		3,500			2,748			6,248
Net book value
At 31 October 2016		6,500			4,815			11,315
At 31 October 2015		7,000			995			7,995

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 3

Gavin Tansey Financial Services Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

4	Related party transactions

Director's advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Gavin Trevor Tansey
Loan	(299)	-	(409)	7,461

5

Control

The company is controlled by the director, who together with his wife, owns 100% of the issued share capital.

Page 4