SOVEREIGN_RESERVE_LIMITED - Accounts

SOVEREIGN WEALTH LIMITED - Company Information

Print Friendly Version

Company Registration No. 07115386 (England and Wales)

SOVEREIGN RESERVE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

SOVEREIGN RESERVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

SOVEREIGN RESERVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

219,254

531,394

Current assets

Debtors

741,806

273,268

Cash at bank and in hand

41,317

18,097

783,123

291,365

Creditors: amounts falling due within one year

(161,160)

(174,106)

Net current assets

621,963

117,259

Total assets less current liabilities

841,217

648,653

Capital and reserves

Called up share capital

Profit and loss account

841,215

648,651

Shareholders' funds

841,217

648,653

For the financial year ended 31 January 2016 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 27 May 2016

Mr C J Mardon

Director

Company Registration No. 07115386

SOVEREIGN RESERVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 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 January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for commissions.

1.4

Goodwill

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

Fixed assets

Intangible assets

Cost

At 1 February 2015 & at 31 January 2016

1,560,699

Depreciation

At 1 February 2015

1,029,305

Charge for the year

312,140

At 31 January 2016

1,341,445

Net book value

At 31 January 2016

219,254

At 31 January 2015

531,394

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each