Beaumont Financial Planners Ltd Filleted accounts for Companies House (small and micro)
Beaumont Financial Planners Ltd Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08707394
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Statement of Financial Position |
2018 |
2017 |
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Note |
£ |
£ |
£ |
£ |
Fixed Assets
Tangible assets |
5 |
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Current Assets
Debtors |
6 |
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Cash at bank and in hand |
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---------- |
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Creditors: amounts falling due within one year |
7 |
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Net Current Assets |
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Total Assets Less Current Liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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– |
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Net Assets |
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Capital and Reserves
Called up share capital |
9 |
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Profit and loss account |
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Shareholders Funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
19 December 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
08707394
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Notes to the Financial Statements |
Year ended 31st March 2018
1.
General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Emstrey House (North), Shrewsbury Business Park, Shrewsbury, Shropshire, SY2 6LG.
2.
Statement of Compliance
3.
Accounting Policies
Basis of Preparation
Judgements and Key Sources of Estimation Uncertainty
Revenue Recognition
Income Tax
Tangible Assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings |
- |
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Equipment |
- |
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Impairment of Fixed Assets
Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, which the transaction is measured at the present value of the future receipts discounted at market rate of interest. Financial assets classified as receivable within one year are not amortised. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payments is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Defined Contribution Plans
4.
Employee Numbers
The average number of persons employed by the company during the year amounted to
18
(2017:
9
).
5.
Tangible Assets
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1st April 2017 |
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Additions |
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At 31st March 2018 |
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Depreciation |
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At 1st April 2017 |
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Charge for the year |
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At 31st March 2018 |
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--------- |
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Carrying amount |
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At 31st March 2018 |
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At 31st March 2017 |
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6.
Debtors
2018 |
2017 |
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£ |
£ |
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Trade debtors |
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Other debtors |
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7.
Creditors:
amounts falling due within one year
2018 |
2017 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
Trade creditors |
– |
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Corporation tax |
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Social security and other taxes |
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Other creditors |
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The bank loans are secured against all assets of the company.
8.
Creditors:
amounts falling due after more than one year
2018 |
2017 |
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£ |
£ |
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Bank loans and overdrafts |
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– |
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The bank loans are secured against all assets of the company.
9.
Called Up Share Capital
Issued, called up and fully paid
2018 |
2017 |
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No. |
£ |
No. |
£ |
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10,000 |
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10,000 |
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10.
Director's Advances, Credits and Guarantees
During the year the director entered into the following advances and credits with the company:
2018 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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2017 |
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Balance brought forward |
Advances/ (credits) to the director |
Balance outstanding |
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£ |
£ |
£ |
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Interest has been charged on the loan at a rate of 3% per annum up to 31st March 2017 and 2.5% thereafter on overdrawn balances and is repayable on demand.