Shrimplin Brown Limited 31/03/2019 iXBRL

Shrimplin Brown Limited 31/03/2019 iXBRL

SHRIMPLIN BROWN LIMITED - Company Information

Print Friendly Version

31/03/2019 2019-03-31 false false false false false false false false false false true false false true false false false false false false false false No description of principal activities is disclosed 2018-04-01 Sage Accounts Production 18.30 - FRS xbrli:pure xbrli:shares iso4217:GBP 08069733 2018-04-01 2019-03-31 08069733 2019-03-31 08069733 2018-03-31 08069733 2017-04-01 2018-03-31 08069733 2018-03-31 08069733 2017-03-31 08069733 core:FurnitureFittingsToolsEquipment 2018-04-01 2019-03-31 08069733 bus:RegisteredOffice 2018-04-01 2019-03-31 08069733 bus:LeadAgentIfApplicable 2018-04-01 2019-03-31 08069733 bus:Director1 2018-04-01 2019-03-31 08069733 bus:Director2 2018-04-01 2019-03-31 08069733 core:FurnitureFittingsToolsEquipment 2018-03-31 08069733 core:FurnitureFittingsToolsEquipment 2019-03-31 08069733 core:WithinOneYear 2019-03-31 08069733 core:WithinOneYear 2018-03-31 08069733 bus:AllOrdinaryShares 2018-04-01 2019-03-31 08069733 bus:AllOrdinaryShares 2017-04-01 2018-03-31 08069733 core:ShareCapital 2019-03-31 08069733 core:ShareCapital 2018-03-31 08069733 core:RetainedEarningsAccumulatedLosses 2019-03-31 08069733 core:RetainedEarningsAccumulatedLosses 2018-03-31 08069733 core:FurnitureFittingsToolsEquipment 2018-03-31 08069733 bus:Director1 2018-03-31 08069733 bus:Director1 2019-03-31 08069733 bus:Director2 2018-03-31 08069733 bus:Director2 2019-03-31 08069733 bus:Director1 2017-03-31 08069733 bus:Director1 2018-03-31 08069733 bus:Director2 2017-03-31 08069733 bus:Director2 2018-03-31 08069733 bus:Director1 2017-04-01 2018-03-31 08069733 bus:Director2 2017-04-01 2018-03-31 08069733 bus:SmallEntities 2018-04-01 2019-03-31 08069733 bus:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 08069733 bus:FullAccounts 2018-04-01 2019-03-31 08069733 bus:SmallCompaniesRegimeForAccounts 2018-04-01 2019-03-31 08069733 bus:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 08069733 core:OtherRelatedParties 2018-04-01 2019-03-31 08069733 core:OtherRelatedParties 2017-04-01 2018-03-31 08069733 core:OtherRelatedParties 2019-03-31 08069733 core:OtherRelatedParties 2018-03-31
Company registration number: 08069733
Shrimplin Brown Limited
Unaudited filleted financial statements
31 March 2019
Shrimplin Brown Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Shrimplin Brown Limited
Directors and other information
Directors Mr James Brown
Mr Robert Shrimplin
Company number 08069733
Registered office Lion House
147 Oriental Road
Woking
Surrey
GU22 8AP
Accountant Baker Accountancy Services
7 Grayburn Close
Chalfont St Giles
Buckinghamshire
HP8 4NZ
Shrimplin Brown Limited
Statement of financial position
31 March 2019
2019 2018
Note £ £ £ £
Fixed assets
Tangible assets 6 125 392
_______ _______
125 392
Current assets
Debtors 7 121,818 184,782
Cash at bank and in hand 186,868 196,719
_______ _______
308,686 381,501
Creditors: amounts falling due
within one year 8 ( 80,460) ( 129,625)
_______ _______
Net current assets 228,226 251,876
_______ _______
Total assets less current liabilities 228,351 252,268
Provisions for liabilities ( 93) ( 93)
_______ _______
Net assets 228,258 252,175
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 228,158 252,075
_______ _______
Shareholders funds 228,258 252,175
_______ _______
For the year ending 31 March 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 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 financial statements.
These 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 19 December 2019 , and are signed on behalf of the board by:
Mr James Brown Mr Robert Shrimplin
Director Director
Company registration number: 08069733
Shrimplin Brown Limited
Notes to the financial statements
Year ended 31 March 2019
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lion House, 147 Oriental Road, Woking, Surrey, GU22 8AP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The 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 financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Fittings fixtures and equipment - 33.33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 in finance costs 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 4 (2018: 3 ).
5. Dividends
Equity dividends
2019 2018
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 173,000 175,500
_______ _______
During the year dividends were paid to the shareholders as noted above. The shareholders of the Company are also the Directors of the Company.
6. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2018 and 31 March 2019 3,507 3,507
_______ _______
Depreciation
At 1 April 2018 3,115 3,115
Charge for the year 267 267
_______ _______
At 31 March 2019 3,382 3,382
_______ _______
Carrying amount
At 31 March 2019 125 125
_______ _______
At 31 March 2018 392 392
_______ _______
7. Debtors
2019 2018
£ £
Trade debtors 119,624 184,782
Other debtors 2,194 -
_______ _______
121,818 184,782
_______ _______
8. Creditors: amounts falling due within one year
2019 2018
£ £
Trade creditors 3,158 9,860
Corporation tax 36,310 63,144
Social security and other taxes 34,389 45,375
Other creditors 6,603 11,246
_______ _______
80,460 129,625
_______ _______
9. 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 o/standing
£ £ £ £
Mr James Brown ( 1,338) ( 12) - ( 1,350)
Mr Robert Shrimplin ( 3,680) - 2,750 ( 930)
_______ _______ _______ _______
( 5,018) ( 12) 2,750 ( 2,280)
_______ _______ _______ _______
2018
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr James Brown ( 1,145) ( 193) - ( 1,338)
Mr Robert Shrimplin ( 1,142) ( 2,538) - ( 3,680)
_______ _______ _______ _______
( 2,287) ( 2,731) - ( 5,018)
_______ _______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value Balance owed by/(owed to)
2019 2018 2019 2018
£ £ £ £
Mayer Brown Limited 8,465 5,484 ( 891) ( 644)
_______ _______ _______ _______
During the year rental, subcontract costs and other related expenses were incurred from Mayer Brown Limited, a company which James Brown's father is a controlling shareholder of.