Fowler Financial Solutions Limited - Limited company - abbreviated

REGISTERED NUMBER: 06604212 (England and Wales)

Abbreviated Accounts for the Year Ended 31 May 2015

for

Fowler Financial Solutions Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

C Fowler

SECRETARY:

Miss D Fantham

REGISTERED OFFICE:

10 Harrow Drive

Hornchurch

Essex

RM11 1NU

REGISTERED NUMBER:

06604212 (England and Wales)

ACCOUNTANTS:

Portfolio Accountancy Services Ltd

Chartered Certified Accountants

198 Hockley Road

Rayleigh

Essex

SS6 8ET

FIXED ASSETS

Intangible assets

2

-

14,599

Tangible assets

3

3,152

3,420

3,152

18,019

CURRENT ASSETS

Debtors

6,714

52,343

Cash at bank

553,572

336,269

560,286

388,612

CREDITORS

Amounts falling due within one year

61,163

45,139

NET CURRENT ASSETS

499,123

343,473

TOTAL ASSETS LESS CURRENT
LIABILITIES

502,275

361,492

PROVISIONS FOR LIABILITIES

630

684

NET ASSETS

501,645

360,808

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

501,545

360,708

SHAREHOLDERS' FUNDS

501,645

360,808

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 29 February 2016 and were signed by:

C Fowler - 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 commission received and due in respect of services provided in the period.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of seven years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

and 31 May 2015

102,211

AMORTISATION

At 1 June 2014

87,612

Amortisation for year

14,599

At 31 May 2015

102,211

NET BOOK VALUE

At 31 May 2015

-

At 31 May 2014

14,599

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2014

7,307

Additions

783

At 31 May 2015

8,090

DEPRECIATION

At 1 June 2014

3,887

Charge for year

1,051

At 31 May 2015

4,938

NET BOOK VALUE

At 31 May 2015

3,152

At 31 May 2014

3,420

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.15

31.5.14

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2015 and

31 May 2014:

31.5.15

31.5.14

£

C Fowler

Balance outstanding at start of year

46,365

-

Amounts advanced

-

46,365

Amounts repaid

(46,365

)

-

Balance outstanding at end of year

-

46,365

Fowler Financial Solutions Limited - Limited company - abbreviated - 11.9

Fowler Financial Solutions Limited - Limited company - abbreviated - 11.9