Poole Bay Funding Limited - Accounts to registrar (filleted) - small 18.2
Poole Bay Funding Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Poole Bay Funding Limited |
| Financial Statements |
| for the Year Ended 30 June 2019 |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Contents of the Financial Statements |
| for the year ended 30 June 2019 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| Poole Bay Funding Limited |
| Company Information |
| for the year ended 30 June 2019 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 24 Cornwall Road |
| Dorchester |
| Dorset |
| DT1 1RX |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Statement of Financial Position |
| 30 June 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director on |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Notes to the Financial Statements |
| for the year ended 30 June 2019 |
| 1. | STATUTORY INFORMATION |
| Poole Bay Funding Limited is a |
| 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 |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Office equipment | - |
| 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 statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| statement of financial position 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. |
| Commission income and clawbacks |
| The company does not recognise potential commission income until such time as risk is accepted by the |
| insurer when it is then taken to the profit and loss account. |
| The company makes an assessment at each balance sheet date of the potential liability to repay commission |
| received to insurance companies in respect of lapsed policies. A provision is made to cover this potential |
| liability by giving due consideration to the business written and the likelihood of a proportion of policies |
| lapsing; this is based on the director's knowledge of the industry and past experience. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Notes to the Financial Statements - continued |
| for the year ended 30 June 2019 |
| 4. | PROPERTY, PLANT AND EQUIPMENT |
| Office |
| equipment |
| £ |
| COST |
| At 1 July 2018 |
| and 30 June 2019 |
| DEPRECIATION |
| At 1 July 2018 |
| Charge for year |
| At 30 June 2019 |
| NET BOOK VALUE |
| At 30 June 2019 |
| At 30 June 2018 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Directors' current accounts | 18,481 | 15,886 |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2019 | 2018 |
| £ | £ |
| Trade creditors |
| UK corporation tax |
| Tax and social security costs |
| Accruals and deferred income |
| 7. | DIRECTOR'S 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 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Interest at the official rate has been charged on the director's overdrawn current account. |
| 8. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £14,000 (2018 - £21,500) were paid to the director . |