CHEARY_&_GALLAGHER_LIMITE - Accounts

CHEARY & GALLAGHER LIMITED - Company Information

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Company Registration No. 07582673 (England and Wales)

CHEARY & GALLAGHER LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2015

CHEARY & GALLAGHER LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

CHEARY & GALLAGHER LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2015

- 1 -

2015

2014

Notes

Fixed assets

Intangible assets

12,000

14,000

Tangible assets

10,995

14,662

22,995

28,662

Current assets

Debtors

1,343

12,674

Cash at bank and in hand

5,352

6,481

6,695

19,155

Creditors: amounts falling due within one year

(30,575)

(42,421)

Net current liabilities

(23,880)

(23,266)

Total assets less current liabilities

(885)

5,396

Capital and reserves

Called up share capital

100

Profit and loss account

(985)

5,296

Shareholders' funds

(885)

5,396

For the financial year ended 31 March 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 22 December 2015

Mrs M Cheary

Mr P Gallagher

Director

Company Registration No. 07582673

CHEARY & GALLAGHER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 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

Turnover

Turnover represents amounts receivable for services provided net of VAT.

1.3

Goodwill

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% Reducing Balance

Motor vehicles

25% Reducing Balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2014 & at 31 March 2015

20,000

23,435

43,435

Depreciation

At 1 April 2014

6,000

8,774

14,774

Charge for the year

2,000

3,666

5,666

At 31 March 2015

8,000

12,440

20,440

Net book value

At 31 March 2015

12,000

10,995

22,995

At 31 March 2014

14,000

14,662

28,662

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100

Related party relationships and transactions

CHEARY & GALLAGHER LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2015

Related party relationships and transactions

(Continued)

- 3 -

Loans to directors

The following directors had interest free loans during the year. The movement on these loans are as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mrs M Cheary

(152)

42,425

41,984

289

Mr P Gallagher

(152)

42,425

41,985

288

(304)

84,850

83,969

577