SOVEREIGN_RESERVE_LIMITED - Accounts

SOVEREIGN WEALTH LIMITED - Company Information

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Company Registration No. 07115386 (England and Wales)

SOVEREIGN RESERVE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2015

SOVEREIGN RESERVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

SOVEREIGN RESERVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

531,394

814,141

Current assets

Debtors

273,268

43,050

Cash at bank and in hand

18,097

65,252

291,365

108,302

Creditors: amounts falling due within one year

(174,106)

(499,888)

Net current assets/(liabilities)

117,259

(391,586)

Total assets less current liabilities

648,653

422,555

Capital and reserves

Called up share capital

Profit and loss account

648,651

422,553

Shareholders' funds

648,653

422,555

For the financial year ended 31 January 2015 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 25 June 2015

Mr C J Mardon

Director

Company Registration No. 07115386

SOVEREIGN RESERVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2015

- 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).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for commissions.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Fixed assets

Intangible assets

Cost

At 1 February 2014

1,535,167

Additions

25,532

At 31 January 2015

1,560,699

Depreciation

At 1 February 2014

721,026

Charge for the year

308,279

At 31 January 2015

1,029,305

Net book value

At 31 January 2015

531,394

At 31 January 2014

814,141

Share capital

2015

2014

Allotted, called up and fully paid

2 Ordinary shares of £1 each