Brandy Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 08770717 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 30 November 2015

for

Brandy Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

B A Belton

A Wills

E W L Wills

REGISTERED OFFICE:

33 Cromwell Place

Cranleigh

Surrey

GU6 7LF

REGISTERED NUMBER:

08770717 (England and Wales)

ACCOUNTANTS:

Blackwood Futcher & Co.

Chartered Accountants

9 St George's Yard

Farnham

Surrey

GU9 7LW

FIXED ASSETS

Tangible assets

2

15,705

29,346

CURRENT ASSETS

Stocks

10,006

11,907

Debtors

93,212

46,124

Cash at bank and in hand

8,386

13,196

111,604

71,227

CREDITORS

Amounts falling due within one year

177,438

161,597

NET CURRENT LIABILITIES

(65,834

)

(90,370

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,129

)

(61,024

)

PROVISIONS FOR LIABILITIES

3,141

-

NET LIABILITIES

(53,270

)

(61,024

)

CAPITAL AND RESERVES

Called up share capital

3

250

250

Profit and loss account

(53,520

)

(61,274

)

SHAREHOLDERS' FUNDS

(53,270

)

(61,024

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors on 4 May 2016 and were signed on its behalf by:

B A Belton - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date the company had net liabilities of £53,270. The ability of the company to continue to

trade is dependant upon the continued support of the directors.

The directors are of the opinion that the company will continue to receive this support and on this basis consider

it appropriate to prepare the accounts on the going concern basis.

The financial statements do not include any adjustments that would result from the withdrawal of support by the

directors.

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 January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

-

33% on cost

Computer equipment

-

25% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2014

43,924

Additions

1,402

At 30 November 2015

45,326

DEPRECIATION

At 1 December 2014

14,578

Charge for year

15,043

At 30 November 2015

29,621

NET BOOK VALUE

At 30 November 2015

15,705

At 30 November 2014

29,346

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.15

30.11.14

value:

£

£

250

Ordinary A

£1

250

250

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 30 November 2015 and the

period ended 30 November 2014:

30.11.15

30.11.14

£

£

B A Belton

Balance outstanding at start of year

294

-

Amounts advanced

57

360

Amounts repaid

(32

)

(66

)

Balance outstanding at end of year

319

294

The maximum amount outstanding during the year and due to the company by Mr B A Belton was £319. No

interest was paid during the year on this balance.

5.	RELATED PARTY DISCLOSURES

Included within other debtors at 30 November 2015 is an amount of £71,501 (2014 £42,528) due from Brandy

Investments Limited, a company in which the directors Mr B A Belton, Mr A Wills and Mrs E W L Wills are all

directors and shareholders.

During the period the company paid rent of £50,000 (2014 £50,000) and heat and light £17,411 (2014 £6,093)

to Brandy Investments Limited. It also provided management services to Brandy Investments Limited

amounting to £29,500 (2014 £Nil).

Included in the repairs and renewals charge for the year is an amount of £7,000 (2014 £Nil) paid to Greene

Works Limited, a company in which Mr B A Belton is a director and shareholder. At the balance sheet an

amount of £14,262 (2014 £Nil) is due from Greene Works Limited and is included in debtors. No interest was

paid on this amount during the year.

6.	ULTIMATE CONTROLLING PARTY

The company is jointly controlled by the directors.