BBI Independent Financial Advisers Limited - Period Ending 2014-12-31

Registration number: 05636740

BBI Independent Financial Advisers Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2014
 

West House Accountants
Chartered Accountants
14 High Street
Tettenhall
Wolverhampton
West Midlands
WV6 8QT

BBI Independent Financial Advisers Limited
(Registration number: 05636740)
Abbreviated Balance Sheet at 31 December 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					5,241			5,990
Current assets
Debtors					4,063			4,336
Cash at bank and in hand					23,770			11,056
					27,833			15,392
Creditors: Amounts falling due within one year					(25,213)			(17,954)
Net current assets/(liabilities)					2,620			(2,562)
Total assets less current liabilities					7,861			3,428
Provisions for liabilities					(1,000)			(1,000)
Net assets					6,861			2,428
Capital and reserves
Called up share capital		3			200			200
Profit and loss account					6,661			2,228
Shareholders' funds					6,861			2,428

For the year ending 31 December 2014 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 director acknowledges his 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Approved by the director on 29 September 2015

......................................... D R Powell Director

The notes on pages 2 to 3 form an integral part of these financial statements.
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BBI Independent Financial Advisers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts receivable for commission and consultancy work.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures, fitting and equipment	25% p.a. reducing balance basis

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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BBI Independent Financial Advisers Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2014
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 January 2014		85,000			7,681			92,681
Additions		-			896			896
At 31 December 2014		85,000			8,577			93,577
Depreciation
At 1 January 2014		85,000			1,691			86,691
Charge for the year		-			1,645			1,645
At 31 December 2014		85,000			3,336			88,336
Net book value
At 31 December 2014		-			5,241			5,241
At 31 December 2013		-			5,990			5,990

3	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		200			200			200			200

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