Oliver Cox Limited - Limited company accounts 11.9
Oliver Cox Limited - Limited company accounts 11.9
REGISTERED NUMBER: |
REPORT OF THE DIRECTOR AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2015 |
FOR |
OLIVER COX LIMITED |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
Page |
Company Information | 1 |
Report of the Director | 2 |
Chartered Accountants' Report | 3 |
Profit and Loss Account | 4 |
Balance Sheet | 5 |
Notes to the Financial Statements | 7 |
OLIVER COX LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2015 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
REPORT OF THE DIRECTOR |
FOR THE YEAR ENDED 31 MARCH 2015 |
The director presents his report with the financial statements of the company for the year ended 31 March 2015. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of independent financial advice. |
DIRECTOR |
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating |
to small companies. |
THIS REPORT WAS APPROVED BY THE BOARD: |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
OLIVER COX LIMITED |
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Oliver Cox Limited for the year ended 31 March 2015 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
This report is made solely to the director of Oliver Cox Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Oliver Cox Limited and state those matters that we have agreed to state to the director of Oliver Cox Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 Oliver Cox 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 Oliver Cox Limited. You consider that Oliver Cox Limited 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 financial statements of Oliver Cox 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. |
9 December 2015 |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
PROFIT AND LOSS ACCOUNT |
FOR THE YEAR ENDED 31 MARCH 2015 |
2015 | 2014 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT | 2 |
Interest receivable and similar income |
Interest payable and similar charges | ( |
) | ( |
) |
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION |
Tax on profit on ordinary activities | 3 |
PROFIT FOR THE FINANCIAL YEAR |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
BALANCE SHEET |
31 MARCH 2015 |
2015 | 2014 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
Tangible assets | 6 |
Investments | 7 |
CURRENT ASSETS |
Debtors | 8 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 9 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
10 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Profit and loss account | 12 |
SHAREHOLDERS' FUNDS |
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. |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
BALANCE SHEET - continued |
31 MARCH 2015 |
The financial statements were approved by the director on |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2015 |
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). |
Cash flow statement |
The company qualifies as a small company under the Companies Act 2006. The director has elected to take |
advantage of the exemption under the FRSSE not to prepare a cash flow statement. |
Turnover |
Turnover represents the amounts derived from providing independent financial advice during the period. |
Goodwill |
Goodwill attaching to the database and contacts list acquired from a related company has been capitalised under |
the heading of Intangible Fixed Assets. The director has undertaken an impairment review of the goodwill in the |
light of FRS 11, taking account of future cash flows and current operating results. Goodwill is amortised through |
the Profit and Loss Account over a period not exceeding 20 years, estimated by the Director to be the useful |
economic life. |
Tangible fixed assets |
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on both a reducing balance |
and straight line basis on tangible assets at rates calculated to write off the cost, less estimated residual value, of |
each asset over the expected useful life. The following annual rates have been applied: |
Computer Equipment - 33% reducing balance |
Office Equipment - 25% straight line |
Deferred tax |
Deferred tax is provided using the liability method in respect of all material timing differences that have |
originated but not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered |
more likely than not that future profits will be available for offset. The company has not adopted a policy of |
discounting deferred tax assets and liabilities. |
Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
2. | OPERATING PROFIT |
The operating profit is stated after charging: |
2015 | 2014 |
£ | £ |
Depreciation - owned assets |
Goodwill amortisation |
Director's remuneration and other benefits etc |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2015 |
3. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit on ordinary activities for the year was as follows: |
2015 | 2014 |
£ | £ |
Current tax: |
UK corporation tax |
Tax on profit on ordinary activities |
4. | DIVIDENDS |
2015 | 2014 |
£ | £ |
Final | 250,000 | 250,000 |
5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2014 |
and 31 March 2015 |
AMORTISATION |
At 1 April 2014 |
Charge for year |
At 31 March 2015 |
NET BOOK VALUE |
At 31 March 2015 |
At 31 March 2014 |
6. | TANGIBLE FIXED ASSETS |
Office | Computer |
Equipment | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2014 |
and 31 March 2015 |
DEPRECIATION |
At 1 April 2014 |
Charge for year |
At 31 March 2015 |
NET BOOK VALUE |
At 31 March 2015 |
At 31 March 2014 |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2015 |
7. | FIXED ASSET INVESTMENTS |
Unlisted |
investments |
£ |
COST |
At 1 April 2014 |
and 31 March 2015 | 86,185 |
NET BOOK VALUE |
At 31 March 2015 |
At 31 March 2014 |
8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Amounts owed by associates | 12,765 | - |
9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2015 | 2014 |
£ | £ |
Trade creditors |
Corporation tax |
Director's loan account |
Accruals | 1,242 | 610 |
10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2015 | 2014 |
£ | £ |
Loans | 17,389 | 17,389 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
OLIVER COX LIMITED (REGISTERED NUMBER: 06296437) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2015 |
12. | RESERVES |
Profit |
and loss |
account |
£ |
At 1 April 2014 |
Profit for the year |
Dividends | ( |
) |
At 31 March 2015 |
13. | RELATED PARTY DISCLOSURES |
Director and Shareholder of Company |
Dividends to the value of £187,500 (2014: £187,500) were paid during the year. |
Rachel Cox |
Shareholder of the company |
Dividends to the value of £62,500 (2014: £62,500) were paid during the year. |
Lord Financial Limited |
A company in which Mr Cox is a shareholder and director. |
Commission to the value of £439,126 (2014: £289,581) was received during the year. |
Freehold Investments 2015 Limited |
A company in which Mr Cox is a shareholder and director. |
During the year, the company loaned £12,765 to Freehold Investments 2015 Limited. This amount is treated as |
an intercompany loan and is repayable on demand. |