Frost & Partners (Hadleigh) Limited - Period Ending 2016-03-31

Registration number: 05259985

Frost & Partners (Hadleigh) Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Frost & Partners (Hadleigh) Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Frost & Partners (Hadleigh) Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Frost & Partners (Hadleigh) Limited for the year ended 31 March 2016 set out on pages 4 to 11 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 Frost & Partners (Hadleigh) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Frost & Partners (Hadleigh) Limited and state those matters that we have agreed to state to them, 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 Frost & Partners (Hadleigh) Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Frost & Partners (Hadleigh) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Frost & Partners (Hadleigh) Limited. You consider that Frost & Partners (Hadleigh) 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 accounts of Frost & Partners (Hadleigh) 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 accounts.

......................................

Jacobs Allen Limited
Chartered Accountants & Chartered Tax Advisers
59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

6 May 2015

Page 1

Frost & Partners (Hadleigh) Limited
(Registration number: 05259985)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					227,506			286,172
Tangible fixed assets					2,141			2,918
					229,647			289,090
Current assets
Debtors					20,068			4,504
Cash at bank and in hand					52,786			39,642
					72,854			44,146
Creditors: Amounts falling due within one year					(38,724)			(38,865)
Net current assets					34,130			5,281
Total assets less current liabilities					263,777			294,371
Creditors: Amounts falling due after more than one year					(217,940)			(234,300)
Net assets					45,837			60,071
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					45,737			59,971
Shareholders' funds					45,837			60,071

For the year ending 31 March 2016 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 directors acknowledge their 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 Board on 6 May 2016 and signed on its behalf by:

.........................................
Mr N S Parker
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Frost & Partners (Hadleigh) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of commissions and fees for services provided to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class	Amortisation method and rate
Goodwill	15 years straight line

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	20% straight line
Fixtures and fittings	15% reducing balance
Motor vehicles	25% reducing balance

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

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.

Page 3

Frost & Partners (Hadleigh) Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 April 2015		880,000			56,408			936,408
Disposals		-			(33,119)			(33,119)
At 31 March 2016		880,000			23,289			903,289
Depreciation
At 1 April 2015		593,828			53,490			647,318
Charge for the year		58,666			776			59,442
Eliminated on disposals		-			(33,118)			(33,118)
At 31 March 2016		652,494			21,148			673,642
Net book value
At 31 March 2016		227,506			2,141			229,647
At 31 March 2015		286,172			2,918			289,090

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

4

Control

The company is controlled by Lloyd Parker Ltd , a company registered in England and Wales. Lloyd Parker Ltd is controlled by any two of the directors.

Page 4