D A Owen Financial Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05371139 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2019

FOR

D A OWEN FINANCIAL SERVICES LIMITED

TRADING AS

HARRISON BEALE & OWEN FINANCIAL SERVICES

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J W Strain

A Baynham

T Driver

T Dawe

D R Stokes

M Ashfield

REGISTERED OFFICE:

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

REGISTERED NUMBER:

05371139 (England and Wales)

ACCOUNTANTS:

Harrison Beale & Owen Limited

Chartered Accountants

Highdown House

11 Highdown Road

Leamington Spa

Warwickshire

CV31 1XT

BANKERS:

HSBC

PO Box 88

The Parade

Leamington Spa

Warwickshire

CV32 4BU

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

26,550

9,973

26,550

9,973

CURRENT ASSETS

Debtors

40,562

33,874

Cash at bank and in hand

581,237

687,744

621,799

721,618

CREDITORS

Amounts falling due within one year

368,859

342,236

NET CURRENT ASSETS

252,940

379,382

TOTAL ASSETS LESS CURRENT LIABILITIES

279,490

389,355

PROVISIONS FOR LIABILITIES

2,858

1,696

NET ASSETS

276,632

387,659

CAPITAL AND RESERVES

Called up share capital

6

200

142

Share premium

174,980

-

Capital redemption reserve

133

83

Retained earnings

101,319

387,434

SHAREHOLDERS' FUNDS

276,632

387,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 12 February 2020 and were signed on its behalf by:

J W Strain - Director

1.	STATUTORY INFORMATION

D A Owen Financial Services Limited is a private company, limited by shares , registered in England and Wales.

The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and is rounded

to the nearest £1.

Turnover

Turnover represents commission income and fee income, excluding value added tax. Revenue is recognised on

the income in the period to which the income relates.

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 eight years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures & fittings

-

20% on reducing balance

Computer equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

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

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2018 - 20 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

and 30 June 2019

250,000

AMORTISATION

At 1 July 2018

and 30 June 2019

250,000

NET BOOK VALUE

At 30 June 2019

-

At 30 June 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2018

76,709

Additions

23,088

At 30 June 2019

99,797

DEPRECIATION

At 1 July 2018

66,736

Charge for year

6,511

At 30 June 2019

73,247

NET BOOK VALUE

At 30 June 2019

26,550

At 30 June 2018

9,973

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

35

Ordinary A

£1

35

50

80

Ordinary B

£1

80

50

25

Ordinary C

£1

25

14

25

Ordinary D

£1

25

14

25

Ordinary E

£1

25

14

10

Ordinary F

£1

10

-

200

142

The following shares were issued during the year for cash at par :

35 Ordinary A shares of £1

36 Ordinary B shares of £1

11 Ordinary C shares of £1

11 Ordinary D shares of £1

11 Ordinary E shares of £1

4 Ordinary F shares of £1

7.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of directors and certain employees. The

scheme and its assets are held by independent managers. The pension charge represents contributions due from

the company and amount to £131,031 (2018 - £106,511). At the balance sheet date here were £48,395 (2018 -

£31,545) of contributions outstanding.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2019 and

30 June 2018:

2019

2018

£

£

D R Stokes

Balance outstanding at start of year

-

-

Amounts advanced

43,604

-

Amounts repaid

(43,600

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4

-

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £432,455 (2018 - £477,787) were paid to the directors .