SIMON_BENNETT_ASSOCIATES_ - Accounts

SIMON BENNETT ASSOCIATES LTD - Company Information

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Company Registration No. 07319468 (England and Wales)

SIMON BENNETT ASSOCIATES LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2014

SIMON BENNETT ASSOCIATES LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

SIMON BENNETT ASSOCIATES LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JULY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

2,066

1,804

Investments

4,397

6,463

1,804

Current assets

Debtors

33,899

14,829

Cash at bank and in hand

24,247

34,613

58,146

49,442

Creditors: amounts falling due within one year

(48,870)

(38,761)

Net current assets

9,276

10,681

Total assets less current liabilities

15,739

12,485

Provisions for liabilities

(413)

15,326

12,485

Capital and reserves

Called up share capital

100

Profit and loss account

15,226

12,385

Shareholders' funds

15,326

12,485

For the financial year ended 31 July 2014 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 abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 20 March 2015

Mr S Bennett

Director

Company Registration No. 07319468

SIMON BENNETT ASSOCIATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. On this basis the accounts have been prepared on a going concern basis.

1.2

Turnover

Turnover represents the sales value of biotech and pharmaceutical consultancy services, net of VAT.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% reducing balance

Fixtures, fittings & equipment

25% reducing balance

1.4

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.5

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

SIMON BENNETT ASSOCIATES LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JULY 2014

- 3 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 August 2013

4,516

Additions

1,228

4,397

5,625

At 31 July 2014

5,744

4,397

10,141

Depreciation

At 1 August 2013

2,712

Charge for the year

966

At 31 July 2014

3,678

Net book value

At 31 July 2014

2,066

4,397

6,463

At 31 July 2013

1,804

Share capital

2014

2013

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100

Transactions with directors

The company is controlled by its directors. As at the balance sheet date the company's indebtedness to its directors was £18,888 (2013: £18,269). During the year dividends of £61,000 (2013: £61,000) were paid to the directors and shareholders.

Ultimate parent company

The ultimate controlling party is S Bennett, a director.