Marc Brough Limited - Period Ending 2017-05-31
Marc Brough Limited - Period Ending 2017-05-31
Registration number:
Marc Brough Limited
for the Year Ended 31 May 2017
Marc Brough Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Marc Brough Limited
Company Information
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Directors |
M L Brough R L Brough |
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Registered office |
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Page 1 |
Marc Brough Limited
(Registration number: 06231880)
Balance Sheet as at 31 May 2017
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Note |
2017 |
2016 |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 May 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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M L Brough
Director
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Page 2 |
Marc Brough Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
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General information |
The company is a private company limited by share capital incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£).
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Debtors |
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2017 |
2016 |
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Amounts owed by group undertakings |
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Other debtors |
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Page 3 |
Marc Brough Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
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Creditors |
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2017 |
2016 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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31 May 2017 |
31 May 2016 |
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No. |
£ |
No. |
£ |
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182 |
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182 |
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Contingent liabilities |
The company has entered into cross guarantees and debentures with its bankers to secure the liabilities of other related companies. The contingent liability as at 31 May 2017 is £4,618,195 (2016 - £3,005,255). The future outcome is dependent on the performance of individual companies concerned. However the directors do not expect any liability to crystallise.
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Related party transactions |
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Transactions with directors |
During the year the following advances were made to directors:
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2017 |
At 1 June 2016 |
Repayments by director |
At 31 May 2017 |
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Interest free loan repayable on demand |
(21,363) |
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- |
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2016 |
At 1 January 2015 |
At 31 May 2016 |
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Interest free loan repayable on demand |
(21,363) |
( |
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Page 4 |
Marc Brough Limited
Notes to the Financial Statements for the Year Ended 31 May 2017
Summary of transactions with other related parties
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Transition to FRS 102 |
The transition to FRS102 has not resulted in any changes between the amounts prepared previously under UK GAAP and those presented in compliance with FRS 102.
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Page 5 |