Booth Accountants Ltd - Period Ending 2015-03-31

Registration number: 05236928

Booth Accountants Ltd

trading as Booth Accountants Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

Booth Accountants Ltd
trading as Booth Accountants Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Booth Accountants Ltd
trading as Booth Accountants Limited
for the Year Ended 31 March 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Booth Accountants Ltd for the year ended 31 March 2015 set out on pages 2 to 4 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 Board of Directors of Booth Accountants Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Booth Accountants Ltd and state those matters that we have agreed to state to them, as a body, 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 Booth Accountants Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Booth Accountants Ltd. 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 accounts.

......................................

Booth & Co
Chartered Certified Accountants
The Hermitage
15A Shenfield Road
Brentwood
Essex
CM15 8AG

9 December 2015

Page 1

Booth Accountants Ltd
trading as Booth Accountants Limited
(Registration number: 05236928)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					4,400			4,800
Tangible fixed assets					11,832			8,683
					16,232			13,483
Current assets
Stocks					20,140			19,120
Debtors					11,483			9,896
Cash at bank and in hand					62,178			99,463
					93,801			128,479
Creditors: Amounts falling due within one year					(14,852)			(29,407)
Net current assets					78,949			99,072
Net assets					95,181			112,555
Capital and reserves
Called up share capital		4			100			1
Profit and loss account					95,081			112,554
Shareholders' funds					95,181			112,555

For the year ending 31 March 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 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 .

Approved by the director on 9 December 2015

.........................................
Mr Paul Booth
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Booth Accountants Ltd
trading as Booth Accountants Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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.

Amortisation

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

Asset class	Amortisation method and rate
Positive goodwill	Over 20 years

Depreciation

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

Asset class	Depreciation method and rate
Fixtures and fittings	25% Reducing balance
Motor vehicles	20% Reducing balance

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Booth Accountants Ltd
trading as Booth Accountants Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2014		8,000			17,598			25,598
Additions		-			7,093			7,093
At 31 March 2015		8,000			24,691			32,691
Depreciation
At 1 April 2014		3,200			8,915			12,115
Charge for the year		400			3,944			4,344
At 31 March 2015		3,600			12,859			16,459
Net book value
At 31 March 2015		4,400			11,832			16,232
At 31 March 2014		4,800			8,683			13,483

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

2015 £

2014 £

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary voting shares of £1 each		1			1			1			1

Page 4