Britania Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 02255021 (England and Wales)

Abbreviated Unaudited Accounts

for the Period 1 May 2013 to 31 October 2014

for

Britania Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Certified Accountants' Report

6

DIRECTOR:

R J Kendrick

SECRETARY:

Mrs S Rixon

REGISTERED OFFICE:

Braye House

Egypt Lane

Farnham Common

Buckinghamshire

SL2 3LF

REGISTERED NUMBER:

02255021 (England and Wales)

ACCOUNTANTS:

Rickaby & Co

Chartered Certified Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

FIXED ASSETS

Tangible assets

2

31,927

35,615

Investments

3

3,903,573

4,309,891

Investment property

4

1,223,892

1,252,025

5,159,392

5,597,531

CURRENT ASSETS

Stocks

2,500

21,400

Debtors

1,133,817

1,035,742

Cash at bank and in hand

706,295

170,325

1,842,612

1,227,467

CREDITORS

Amounts falling due within one year

5

807,832

518,934

NET CURRENT ASSETS

1,034,780

708,533

TOTAL ASSETS LESS CURRENT LIABILITIES

6,194,172

6,306,064

CREDITORS

Amounts falling due after more than one year

4,544,098

4,611,833

NET ASSETS

1,650,074

1,694,231

CAPITAL AND RESERVES

Called up share capital

6

100

100

Profit and loss account

1,649,974

1,694,131

SHAREHOLDERS' FUNDS

1,650,074

1,694,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 October 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 30 July 2015 and were signed by:

R J Kendrick - 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 invoiced goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on cost and at varying rates on cost

Investment property

Investment property is shown at cost or most recent valuation. The aggregate surplus or deficit arising from

changes in the market value is transferred to the revaluation reserve. If any revaluation loss is expected to be a

permanent diminution of value this is transferred to the profit and loss account.

In accordance with the requirements of the Companies Act 2006 depreciation has been charged on the

investment properties in order to give a true and fair view.

This is a departure from the Financial Reporting Standard for Smaller Entities (effective April 2008), which states

no depreciation is provided in respect of investment properties. The directors are unable to quantify the effect of

this departure on the Profit and Loss Account and the Balance Sheet.

Stocks

Represent assets purchased under sale and leaseback agreements. These assets are held at the lower of cost

and NRV over the remaining life of the lease after making allowances for obsolescence.

Deferred tax

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

balance sheet date.

Change in disclosure

When preparing the year end financial statements Investment Properties have been separately identified and

disclosed as such including an amendment of the comparative figures to reflect the nature of the asset. This has

resulted in no changes to the asset valuation in either the current or comparative periods.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2013

127,060

Additions

2,471

At 31 October 2014

129,531

DEPRECIATION

At 1 May 2013

91,445

Charge for period

6,159

At 31 October 2014

97,604

NET BOOK VALUE

At 31 October 2014

31,927

At 30 April 2013

35,615

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2013

3,832,478

Additions

336,455

Disposals

(639,566

)

At 31 October 2014

3,529,367

NET BOOK VALUE

At 31 October 2014

3,529,367

At 30 April 2013

3,832,478

Loans

£

At 1 May 2013

477,413

Disposals

(103,207

)

At 31 October 2014

374,206

4.	INVESTMENT PROPERTY

Total

£

COST

At 1 May 2013

and 31 October 2014

1,437,747

DEPRECIATION

At 1 May 2013

185,722

Charge for period

28,133

At 31 October 2014

213,855

NET BOOK VALUE

At 31 October 2014

1,223,892

At 30 April 2013

1,252,025

5.

CREDITORS

Creditors include an amount of £ 1,200 (30.4.13 - £ 1,200 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.14

30.4.13

value:

as restated

£

£

100

Ordinary

£1

100

100

7.	RELATED PARTY DISCLOSURES

During the period, total dividends of £248,000 were paid to the director .

During the year the company made the following charges to companies in which R J Kendrick, a director and

80% shareholder in the company, was connected:

Financing, consultancy services receivable and sale of equipment:

£

Dramgate Limited

210,000

Smartcomm Limited

137,095

At the balance sheet date the company had the following balances with related parties:

Debtors:

£

Smartcomm Limited

427,178

Creditors:

£

Dramgate Limited

4,601,683

The company made donations to the Anne Marie Morris Fighting Fund during the period totalling £10,500 (2013:

£8,016) and £nil (2013: £388) to the Newton Abbot Conservative Association, Anne Marie Morris is the member

of parliament for Newton Abbot.

At the balance sheet date the company owed Mr R Kendrick £315,874 (2013: £145,322).

The company also paid salaries to family members of the director totalling £23,266 during the period (2013:

£15,208). Mr C Kendrick owed the company £569 (2013: £nil) at the year end.

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by R J Kendrick.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Britania Limited for the period ended 31 October 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the director of Britania Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Britania Limited and state those matters that we have agreed to state to the director of Britania Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Britania Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Britania Limited. You consider that Britania Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Britania Limited. For this

reason, we have not verified the accuracy or completeness of the accounting records or information and explanations

you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rickaby & Co

Chartered Certified Accountants

4 Claridge Court

Lower Kings Road

Berkhamsted

Hertfordshire

HP4 2AF

Date: .............................................