G. s. Brown Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05478388 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2014

FOR

G. S. BROWN LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G S Brown

SECRETARY:

Mrs C A Brown

REGISTERED OFFICE:

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

05478388 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1,355,620

1,251,955

Investments

4

60,012

-

1,415,632

1,251,955

CURRENT ASSETS

Stocks

572,010

489,895

Debtors

161,553

267,647

Cash in hand

50

50

733,613

757,592

CREDITORS

Amounts falling due within one year

581,552

490,251

NET CURRENT ASSETS

152,061

267,341

TOTAL ASSETS LESS CURRENT LIABILITIES

1,567,693

1,519,296

CREDITORS

Amounts falling due after more than one year

(289,814

)

(331,076

)

PROVISIONS FOR LIABILITIES

-

(3,284

)

NET ASSETS

1,277,879

1,184,936

CAPITAL AND RESERVES

Called up share capital

5

150

150

Profit and loss account

1,277,729

1,184,786

SHAREHOLDERS' FUNDS

1,277,879

1,184,936

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 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 by the director on 3 March 2015 and were signed by:

G S Brown - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost and 20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

and 30 June 2014

111,800

AMORTISATION

At 1 July 2013

and 30 June 2014

111,800

NET BOOK VALUE

At 30 June 2014

-

At 30 June 2013

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2013

1,358,630

Additions

148,559

Disposals

(24,159

)

At 30 June 2014

1,483,030

DEPRECIATION

At 1 July 2013

106,675

Charge for year

35,523

Eliminated on disposal

(14,788

)

At 30 June 2014

127,410

NET BOOK VALUE

At 30 June 2014

1,355,620

At 30 June 2013

1,251,955

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

Additions

67,000

At 30 June 2014

67,000

PROVISIONS

Impairments

6,988

At 30 June 2014

6,988

NET BOOK VALUE

At 30 June 2014

60,012

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.14

30.6.13

value:

£

£

150

Ordinary

£1

150

150

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2014 and

30 June 2013:

30.6.14

30.6.13

£

£

G S Brown

Balance outstanding at start of year

882

(2

)

Amounts advanced

93,525

1,614

Amounts repaid

(30,730

)

(730

)

Balance outstanding at end of year

63,677

882