Rawlins Davy Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06490308 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30TH APRIL 2016

FOR

RAWLINS DAVY LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M E Davies

N J White

Miss J P Smith

REGISTERED OFFICE:

Heliting House

35 Richmond Hill

Bournemouth

Dorset

BH2 6HT

REGISTERED NUMBER:

06490308 (England and Wales)

ACCOUNTANTS:

Aspen Waite Limited

Chartered Accountants

Rubis House

15 Friarn Street

Bridgwater

Somerset

TA6 3LH

FIXED ASSETS

Intangible assets

2

446,250

520,625

Tangible assets

3

60,151

79,431

506,401

600,056

CURRENT ASSETS

Debtors

586,318

419,731

Cash at bank and in hand

15,823

3,469

602,141

423,200

CREDITORS

Amounts falling due within one year

4

(673,908

)

(640,095

)

NET CURRENT LIABILITIES

(71,767

)

(216,895

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

434,634

383,161

CREDITORS

Amounts falling due after more than one
year

(113,533

)

(115,703

)

PROVISIONS FOR LIABILITIES

(11,350

)

(15,928

)

NET ASSETS

309,751

251,530

CAPITAL AND RESERVES

Called up share capital

5

200,000

Capital redemption reserve

66,667

-

Profit and loss account

43,084

51,530

SHAREHOLDERS' FUNDS

309,751

251,530

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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 and authorised for issue by the Board of Directors on 18th January 2017 and
were signed on its behalf by:

M E Davies - Director

N J White - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and applicable accounting

standards.

Turnover

Turnover represents the amounts chargeable to clients for professional services provided during the period

excluding value added tax. Turnover is recognised when a right to consideration has been obtained through

performance under each contract. Consideration accrues as contract activity progresses by reference to the value

of work performed. Turnover is not recognised where the right to receive payment is contingent upon events

outside the control of the company. Unbilled turnover is included in debtors as 'amounts recoverable on

contracts'.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008 was being amortised

over its estimated useful life of twenty years. Following a review by the directors the estimated useful life at

30th April 2015 has been reduced to 7 years.

Goodwill is the difference between the fair value of consideration paid for an acquired entity and the aggregate

of the fair value of that entity's identifiable assets and liabilities.

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 impairmant 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.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost and 10% on reducing balance

Computer equipment

-

25% on cost and 20% on cost

Depreciation is not provided on the cost of the library as it has an estimated economic life which exceeds 50

years It is reviewed for impairment each year in accordance with the requirement of FRS 11.

Deferred tax

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

sheet date.

Directors' current accounts

Loans comprise loans from directors and from financial institutions. Directors' current accounts have been

included in the net debt note to the cash flow statements.

Operating leases

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

lease term.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

and 30th April 2016

850,000

AMORTISATION

At 1st May 2015

329,375

Amortisation for year

74,375

At 30th April 2016

403,750

NET BOOK VALUE

At 30th April 2016

446,250

At 30th April 2015

520,625

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st May 2015

126,905

Additions

1,516

At 30th April 2016

128,421

DEPRECIATION

At 1st May 2015

47,474

Charge for year

20,796

At 30th April 2016

68,270

NET BOOK VALUE

At 30th April 2016

60,151

At 30th April 2015

79,431

4.

CREDITORS

Creditors include an amount of £ 172,319 (30/4/15 - £ 194,130 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/4/16

30/4/15

value:

£

200,000

Ordinary

£1

200,000

66,667 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.

During the year the company purchased 66,667 of its' own Ordinary shares.