Fenchurch Private Clients Limited - Limited company accounts 11.6

REGISTERED NUMBER: 07439177 (England and Wales)

Report of the Director and

Financial Statements for the Year Ended 31 December 2014

for

Fenchurch Private Clients Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

PNT Smith

SECRETARY:

REGISTERED OFFICE:

1st Floor

Quadrant House

Croydon Road

Caterham

Surrey

CR3 6PB

REGISTERED NUMBER:

07439177 (England and Wales)

ACCOUNTANT:

Marden & Co Accountants Limited

1 Home Meadow

Holly Lane

Banstead

Surrey

SM7 2DX

The director presents his report with the financial statements of the company for the year ended 31 December 2014.

DIRECTOR

PNT Smith held office during the whole of the period from 1 January 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

PNT Smith - Director

12 February 2015

TURNOVER

62,149

141,528

Cost of sales

6,889

61,709

GROSS PROFIT

55,260

79,819

Administrative expenses

46,635

50,198

OPERATING PROFIT

2

8,625

29,621

Interest receivable and similar income

32

23

8,657

29,644

Interest payable and similar charges

7

-

PROFIT ON ORDINARY ACTIVITIES
BEFORE TAXATION

8,650

29,644

Tax on profit on ordinary activities

3

2,154

6,271

PROFIT FOR THE FINANCIAL YEAR

6,496

23,373

FIXED ASSETS

Tangible assets

5

199

1,129

CURRENT ASSETS

Debtors

6

21,587

2,566

Cash at bank

12,831

49,359

34,418

51,925

CREDITORS

Amounts falling due within one year

7

28,295

40,228

NET CURRENT ASSETS

6,123

11,697

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,322

12,826

CAPITAL AND RESERVES

Called up share capital

8

2,000

Profit and loss account

9

4,322

10,826

SHAREHOLDERS' FUNDS

6,322

12,826

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 12 February 2015 and were signed by:

PNT Smith - 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 April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost

Deferred tax

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

sheet date.

2.	OPERATING PROFIT

The operating profit is stated after charging:

2014

2013

£

Depreciation - owned assets

1,230

1,411

Formation costs

20

-

Director's remuneration and other benefits etc

9,423

7,641

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

2014

2013

£

Current tax:

UK corporation tax

2,154

6,271

Tax on profit on ordinary activities

2,154

6,271

4.

DIVIDENDS

2014

2013

£

Ordinary shares of £1 each

Interim

13,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2014

4,236

Additions

300

At 31 December 2014

4,536

DEPRECIATION

At 1 January 2014

3,107

Charge for year

1,230

At 31 December 2014

4,337

NET BOOK VALUE

At 31 December 2014

199

At 31 December 2013

1,129

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade debtors

21,403

-

Other debtors

184

2,566

21,587

2,566

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2014

2013

£

Trade creditors

14,549

3,588

Taxation and social security

2,154

6,271

Other creditors

11,592

30,369

28,295

40,228

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

2,000

Ordinary

£1

2,000

9.

RESERVES

Profit

and loss

account

£

At 1 January 2014

10,826

Profit for the year

6,496

Dividends

(13,000

)

At 31 December 2014

4,322