Brandon Malone & Company Limited - Period Ending 2015-10-31

Registration number: SC488559

Brandon Malone & Company Limited

Unaudited Abbreviated Accounts

for the Period from 9 October 2014 to 31 October 2015

 

Deans Accountants And Business Advisors Ltd
Chartered Accountants and Business Advisors
27 North Bridge Street
Hawick
Borders
TD9 9BD

Brandon Malone & Company Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Brandon Malone & Company Limited
(Registration number: SC488559)
at 31 October 2015

		Note			31 October 2015 £
Fixed assets
Tangible fixed assets					375
Current assets
Stocks					7,394
Debtors					71,225
Cash at bank and in hand					4,533
					83,152
Creditors: Amounts falling due within one year					(42,202)
Net current assets					40,950
Net assets					41,325
Capital and reserves
Called up share capital		3			10
Profit and loss account					41,315
Shareholders' funds					41,325

For the year ending 31 October 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 26 April 2016

.........................................
B J Malone
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Brandon Malone & Company Limited
Notes to the Abbreviated Accounts for the Period from 9 October 2014 to 31 October 2015

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		500			500
At 31 October 2015		500			500
Depreciation
Charge for the period		125			125
At 31 October 2015		125			125
Net book value
At 31 October 2015		375			375

Page 2

Brandon Malone & Company Limited
Notes to the Abbreviated Accounts for the Period from 9 October 2014 to 31 October 2015

3	Share capital

Allotted, called up and fully paid shares

	31 October 2015
		No.			£
Ordinary shares of £1 each		10			10

New shares allotted

During the period 10 Ordinary shares having an aggregate nominal value of £10 were allotted for an aggregate consideration of £10. These were subscriber shares.

4	Related party transactions

Director's advances and credits

	9 October 2014 to 31 October 2015 Advance/ Credit £	9 October 2014 to 31 October 2015 Repaid £
B J Malone
During the year the company advanced funds to B J Malone. Interest is charged at 3.25% on outstanding balances. The loan was repaid after the year end.	44,884	-

Page 3