Bank House Investment Management Limited - Limited company - abbreviated - 11.9
Bank House Investment Management Limited - Limited company - abbreviated - 11.9
| REGISTERED NUMBER: |
| ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2015 |
| FOR |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| CONTENTS OF THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Chartered Accountants' Report | 7 |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2015 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| ABBREVIATED BALANCE SHEET |
| 31 MAY 2015 |
| 31.5.15 | 31.5.14 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 3 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) | ( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
3 |
( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 4 |
| Profit and loss account | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors on its behalf by: |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| NOTES TO THE ABBREVIATED ACCOUNTS |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The company has net liabilities and net current liabilities at the balance sheet date, having made a loss |
| during the year. Since the year end the director has raised funding and taken measures to return the |
| company to profitability. Related companies, who are unsecured creditors, have agreed not to |
| withdraw their support to the detriment of other unsecured creditors. As a result the director considers |
| the company to be a going concern and has prepared the financial statements on that basis. |
| 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 |
| Commission income is recognised in the financial statements when the application is sent to the |
| insurance company. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the profit and loss account on a straight line basis |
| over the period of the lease. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 June 2014 |
| Additions |
| At 31 May 2015 |
| DEPRECIATION |
| At 1 June 2014 |
| Charge for year |
| At 31 May 2015 |
| NET BOOK VALUE |
| At 31 May 2015 |
| At 31 May 2014 |
| 3. | CREDITORS |
| Creditors include an amount of £ |
| They also include the following debts falling due in more than five years: |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Repayable otherwise than by instalments | 10,000 | 10,000 |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 4. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.15 | 31.5.14 |
| value: | £ | £ |
| Ordinary | £100 |
| 5. | ULTIMATE PARENT COMPANY |
| company. |
| 6. | RELATED PARTY DISCLOSURES |
| Bank House Recruitment Limited |
| Fellow subsidiary company |
| Bank House Investment Management Limited provides working capital to Bank House Recruitment |
| Limited through an inter-company current account. |
| During the year the company charged Bank House Recruitment Limited £nil (2014 £6,001) on an arms' |
| length basis for management services provided. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due from related party at the balance sheet date |
| Bank House Security Limited |
| Company associated through common control |
| Bank House Investment Management Limited has provided working capital to Bank House Securities |
| Limited. No terms of interest or repayment have been agreed; the advance is unsecured. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due from related party at the balance sheet date |
| Chester Ferguson Investment Management Limited |
| Company associated through common control |
| Bank House Investment Management Limited has provided working capital to Chester Ferguson |
| Investment Management Limited. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due from related party at the balance sheet date |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 6. | RELATED PARTY DISCLOSURES - continued |
| Huntingdons Management Limited |
| Fellow subsidiary company |
| Bank House Investment Management Limited provides working capital to Huntingdons Management |
| Limited through an inter-company current account. |
| During the year the company charged £7,500 (2014 £1,050) to Huntingdons Management Limited on |
| an arms' length basis for management services provided. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due from related party at the balance sheet date |
| Bank House Investments Limited |
| Parent company |
| Bank House Investments Limited provides working capital to Bank House Investment Management |
| Limited through an inter-company current account. |
| During the year Bank House Investments Limited made management charges to Bank House |
| Investment Management Limited of £87 (2014 £217). |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| Bank House Corporate Limited |
| Fellow subsidiary company |
| Bank House Corporate Limited provides working capital to Bank House Investment Management |
| Limited through an inter-company current account. |
| During the year Bank House Investments Management Limited made management charges to Bank |
| House Corporate Limited of £3,650. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED (REGISTERED NUMBER: 05710191) |
| NOTES TO THE ABBREVIATED ACCOUNTS - continued |
| FOR THE YEAR ENDED 31 MAY 2015 |
| 6. | RELATED PARTY DISCLOSURES - continued |
| Mountbatten Wealth Limited |
| Fellow subsidiary company |
| Mountbatten Wealth Limited provides working capital to Bank House Investment Management Limited |
| through an inter-company current account. |
| During the year Bank House Investment Management Limited charged Mountbatten Wealth Limited |
| £80,000 on an arms' length basis for management services provided. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| Racing Bananas Limited |
| Company under common control |
| Racing Bananas Limited provides working capital to Bank House Investment Management Limited |
| through an inter-company current account. |
| 31.5.15 | 31.5.14 |
| £ | £ |
| Amount due to related party at the balance sheet date |
| 7. | ULTIMATE CONTROLLING PARTY |
| R Ward is regarded as the ultimate controlling party by virtue of his ownership of the majority of the |
| issued equity share capital of the ultimate parent company. |
| CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS |
| ON THE UNAUDITED FINANCIAL STATEMENTS OF |
| BANK HOUSE INVESTMENT MANAGEMENT LIMITED |
| The following reproduces the text of the report prepared for the directors in respect of the company's |
| annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on |
| pages two to six) have been prepared. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval |
| the financial statements of Bank House Investment Management Limited for the year ended 31 May 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 Board of Directors of Bank House Investment Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Bank House Investment Management Limited and state those matters that we have agreed to state to the Board of Directors of Bank House Investment Management Limited, as a body, 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 Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Bank House Investment Management 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 Bank House Investment Management Limited. You consider that Bank House Investment Management 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 Bank House |
| Investment Management 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. |
| 26 February 2016 |