Scott Brown Risk Management Surveyors Limited Filleted accounts for Companies House (small and micro)

SCOTT BROWN RISK MANAGEMENT SURVEYORS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 07025511

Scott Brown Risk Management Surveyors Limited

Filleted Unaudited Abridged Financial Statements

31 January 2019

Scott Brown Risk Management Surveyors Limited

Abridged Financial Statements

Year ended 31 January 2019

Contents	Page

Report to the board of directors on the preparation of the unaudited statutory abridged financial statements	1

Abridged statement of financial position	2

Notes to the abridged financial statements	4

Scott Brown Risk Management Surveyors Limited

Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of Scott Brown Risk Management Surveyors Limited

Year ended 31 January 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of Scott Brown Risk Management Surveyors Limited for the year ended 31 January 2019, which comprise the abridged statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants

2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU

28 October 2019

Scott Brown Risk Management Surveyors Limited

Abridged Statement of Financial Position

31 January 2019

	2019	2018
Note	£	£

Fixed assets

Tangible assets	5	7,353	8,386
Investments	6	5,000	5,000
		--------	--------
		12,353	13,386

Current assets

Debtors	94,775	147,772
Cash at bank and in hand	214,416	203,949
	---------	---------
	309,191	351,721

Creditors: amounts falling due within one year	122,107	206,454
	---------	---------
Net current assets	187,084	145,267
	---------	---------
Total assets less current liabilities	199,437	158,653
	---------	---------
Net assets	199,437	158,653
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	199,337	158,553
	---------	---------
Shareholders funds	199,437	158,653
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.

For the year ending 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

Scott Brown Risk Management Surveyors Limited

Abridged Statement of Financial Position (continued)

31 January 2019

These abridged financial statements were approved by the board of directors and authorised for issue on 28 October 2019 , and are signed on behalf of the board by:

Mr J. Scott Brown

Director

Company registration number: 07025511

Scott Brown Risk Management Surveyors Limited

Notes to the Abridged Financial Statements

Year ended 31 January 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Chesterfield Buildings, Westbourne Place, Clifton, Bristol, BS8 1RU.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Leasehold improvements	-	25% straight line
Fixtures and fittings	-	15% reducing balance
Equipment	-	25% reducing balance

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 9 (2018: 9 ).

5. Tangible assets

	£
Cost
At 1 February 2018	26,906
Additions	961
	--------
At 31 January 2019	27,867
	--------
Depreciation
At 1 February 2018	18,520
Charge for the year	1,994
	--------
At 31 January 2019	20,514
	--------
Carrying amount
At 31 January 2019	7,353
	--------
At 31 January 2018	8,386
	--------

6. Investments

	£
Cost
At 1 February 2018 and 31 January 2019	5,000
	-------
Impairment
At 1 February 2018 and 31 January 2019	–
	-------
Carrying amount
At 31 January 2019	5,000
	-------
At 31 January 2018	5,000
	-------

7. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2019	2018
	£	£
Not later than 1 year	9,223	22,773
Later than 1 year and not later than 5 years	8,687	17,910
	--------	--------
	17,910	40,683
	--------	--------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr and Mrs J Scott Brown	( 68)	1,179	( 1,162)	( 51)
	----	-------	-------	----

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr and Mrs J Scott Brown	( 28)	( 119,250)	119,210	( 68)
	----	---------	---------	----

This loan is interest free and repayable on demand.