Abbreviated Company Accounts - ANCHORMAN INSURANCE CONSULTANTS LIMITED

Abbreviated Company Accounts - ANCHORMAN INSURANCE CONSULTANTS LIMITED

ANCHORMAN INSURANCE CONSULTANTS LIMITED - Company Information

Print Friendly Version

Registered Number 03631690

ANCHORMAN INSURANCE CONSULTANTS LIMITED

Abbreviated Accounts

30 June 2015

ANCHORMAN INSURANCE CONSULTANTS LIMITED Registered Number 03631690

Abbreviated Balance Sheet as at 30 June 2015

Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 36,120 -
Tangible assets 3 216,988 223,061
253,108 223,061
Current assets
Debtors 27,357 32,996
Cash at bank and in hand 171,012 165,494
198,369 198,490
Creditors: amounts falling due within one year 4 (116,372) (106,756)
Net current assets (liabilities) 81,997 91,734
Total assets less current liabilities 335,105 314,795
Creditors: amounts falling due after more than one year 4 0 (35,454)
Provisions for liabilities (13,013) (13,851)
Total net assets (liabilities) 322,092 265,490
Capital and reserves
Called up share capital 5 40,002 40,002
Profit and loss account 282,090 225,488
Shareholders' funds 322,092 265,490
  • For the year ending 30 June 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 29 July 2015

And signed on their behalf by:
Mr MJ Fisher, Director

ANCHORMAN INSURANCE CONSULTANTS LIMITED Registered Number 03631690

Notes to the Abbreviated Accounts for the period ended 30 June 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net commission receivable from insurance companies. Commission is recognised at the point at which premiums are received.

Tangible assets depreciation policy
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:
Land and buildings Leasehold Over the term of the lease being 5 years
Plant and machinery 20% per annum on cost
Computer equipment 5% per annum on cost
Fixtures, fittings & equipment 5% per annum on cost
Motor vehicles 25% per annum on cost

Investment properties are included in the balance sheet at their open market value. Depreciation is
provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.

Intangible assets amortisation policy
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Other accounting policies
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.

2Intangible fixed assets
£
Cost
At 1 July 2014 -
Additions 61,920
Disposals -
Revaluations -
Transfers -
At 30 June 2015 61,920
Amortisation
At 1 July 2014 -
Charge for the year 25,800
On disposals -
At 30 June 2015 25,800
Net book values
At 30 June 2015 36,120
At 30 June 2014 -
3Tangible fixed assets
£
Cost
At 1 July 2014 294,225
Additions 6,081
Disposals (13,043)
Revaluations -
Transfers -
At 30 June 2015 287,263
Depreciation
At 1 July 2014 71,164
Charge for the year 9,547
On disposals (10,436)
At 30 June 2015 70,275
Net book values
At 30 June 2015 216,988
At 30 June 2014 223,061
4Creditors
2015
£		 2014
£
Secured Debts 0 55,454
5Called Up Share Capital
Allotted, called up and fully paid:
2015
£		 2014
£
40,002 Ordinary shares of £1 each 40,002 40,002

Ordinary A shares - 2015 £14,002 2014 £14,002
Ordinary B shares - 2015 £8,000 2014 £12,000
Ordinary C shares - 2015 £8,000 2014 £8,000
Ordinary D shares - 2015 £6,000 2014 £6,000
Ordinary E shares - 2015 £2,000 2014 £0
Ordinary F shares - 2015 £2,000 2014 £0

During the year, 2,000 Ordinary 'B' shares were reclassified as Ordinary 'E' shares, and a further 2,000 Ordinary 'B' shares were reclassified as Ordinary 'F' shares.

6Transactions with directors

Name of director receiving advance or credit: Mr AW Reynolds
Description of the transaction: Advances and credits
Balance at 1 July 2014: £ 0
Advances or credits made: £ 360
Advances or credits repaid: -
Balance at 30 June 2015: £ 360
Name of director receiving advance or credit: Mr AC Cross
Description of the transaction: Advances and credits
Balance at 1 July 2014: £ 0
Advances or credits made: £ 360
Advances or credits repaid: -
Balance at 30 June 2015: £ 360

The advances were personal expenses paid by the company.