F J Samuely & Partners Limited - Limited company accounts 11.9

REGISTERED NUMBER: 03924834 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2015

for

F J Samuely & Partners Limited

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

6

DIRECTOR:

T E Schollar

REGISTERED OFFICE:

Celtic House

33 Johns Mews

London

WC1N 2NS

REGISTERED NUMBER:

03924834 (England and Wales)

ACCOUNTANTS:

Sawin & Edwards

52 Kingsway Place

Sans Walk

London

EC1R 0LU

The director presents his report with the financial statements of the company for the year ended 31 March 2015.

DIRECTOR

T E Schollar held office during the whole of the period from 1 April 2014 to the date of this report.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

ON BEHALF OF THE BOARD:

T E Schollar - Director

14 December 2015

TURNOVER

2

400,987

449,273

Administrative expenses

(343,133

)

(399,833

)

57,854

49,440

Other operating income

19,644

22,927

OPERATING PROFIT and

PROFIT ON ORDINARY
ACTIVITIES BEFORE TAXATION

3

77,498

72,367

Tax on profit on ordinary activities

4

(15,500

)

(14,474

)

PROFIT FOR THE FINANCIAL
YEAR

61,998

57,893

FIXED ASSETS

Tangible assets

6

11,511

15,197

CURRENT ASSETS

Debtors

7

187,178

191,835

Cash at bank

55,350

232

242,528

192,067

CREDITORS

Amounts falling due within one year

8

(170,134

)

(140,546

)

NET CURRENT ASSETS

72,394

51,521

TOTAL ASSETS LESS CURRENT
LIABILITIES

83,905

66,718

PROVISIONS FOR LIABILITIES

9

(1,505

)

(2,066

)

NET ASSETS

82,400

64,652

CAPITAL AND RESERVES

Called up share capital

10

2,001

Profit and loss account

11

80,399

62,651

SHAREHOLDERS' FUNDS

82,400

64,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 14 December 2015 and were signed by:

T E Schollar - Director

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).

Turnover

Turnover represents the value of services supplied by the company, net of value added tax and trade

discounts. In accordance with UITF 40 - revenue recognition and service contracts, all unbilled,

completed work has been included as accrued income at a realisable invoice value.

Tangible fixed assets

Depreciation has been provided at the following rates in order to write off the assets over their

estimated useful lives.

Plant and machinery

25% on written down value

Fixtures and fittings

10% on written down value

Furniture

25% on written down value

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to the profit and loss account in the period to which they

relate.

Operating rentals

Rentals paid under operating leases are charged to the profit and loss on a straight line basis over the

lease term.

2.

TURNOVER

In the opinion of the directors, sales made outside the UK represent 0% (2014: 0%) of total turnover.

3.	OPERATING PROFIT

The operating profit is stated after charging:

2015

2014

£

Depreciation - owned assets

3,686

4,884

Pension costs

21,757

17,442

Directors' remuneration and other benefits etc

11,600

20,301

4.

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

16,061

13,866

Deferred tax

(561

)

608

Tax on profit on ordinary activities

15,500

14,474

5.

DIVIDENDS

2015

2014

£

Ordinary shares Class A of £1 each shares of £1 each

Final

29,500

30,000

Ordinary shares Class B of £1 each shares of £1 each

Final

14,750

20,000

44,250

50,000

6.	TANGIBLE FIXED ASSETS

Furniture,

fixtures

Plant and

and

machinery

fittings

etc

Totals

£

COST

At 1 April 2014

and 31 March 2015

12,206

62,905

75,111

DEPRECIATION

At 1 April 2014

10,724

49,190

59,914

Charge for year

257

3,429

3,686

At 31 March 2015

10,981

52,619

63,600

NET BOOK VALUE

At 31 March 2015

1,225

10,286

11,511

At 31 March 2014

1,482

13,715

15,197

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

Trade debtors

85,716

114,908

Amounts due under contracts

not yet invoiced

94,669

70,453

Other debtors

6,793

6,474

187,178

191,835

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2015

2014

£

Bank loans and overdrafts

-

23,953

Taxation and social security

36,634

17,368

Other creditors

133,500

99,225

170,134

140,546

9.	PROVISIONS FOR LIABILITIES

2015

2014

£

Deferred tax

1,505

2,066

Deferred

tax

£

Balance at 1 April 2014

2,066

Movement

(561

)

Balance at 31 March 2015

1,505

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

1,001

Ordinary shares Class A of £1

each

£1

1,001

1,000

Ordinary shares Class B of £1

each

£1

1,000

2,001

11.

RESERVES

Profit

and loss

account

£

At 1 April 2014

62,651

Profit for the year

61,998

Dividends

(44,250

)

At 31 March 2015

80,399

12.	OTHER FINANCIAL COMMITMENTS

At the year end the company had annual commitments under
non-cancellable operating leases as set out below:

2014

2013

£

Operating leases which expire within two to five years

27,000

13.	RELATED PARTY DISCLOSURES

The director, T E Schollar, has advanced loans to the company. At the year end the company owed T

E Schollar £114,697 (2014: £85,196). No loan interest was charged in the current or the previous

year.

During the year, the director T E Schollar was paid a dividend of £29,500 (2014: £30,000) and Mrs C

Schollar was paid a dividend of £14,750 (2014: £20,000).

14.	ULTIMATE CONTROLLING PARTY

The company is under the control of, T E Schollar who owns 100% of the class A issued share

capital. Mrs C Schollar owns 100% of the class B issued share capital.