Sovereign Independent Financial Advisers Ltd - Abbreviated accounts

SOVEREIGN INDEPENDENT FINANCIAL ADVISERS LIMITED - Company Information

Registered number

04852639

Sovereign Independent Financial Advisers Ltd

Abbreviated Accounts

31 December 2015

Sovereign Independent Financial Advisers Ltd

Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Sovereign Independent Financial Advisers Ltd for the year ended 31 December 2015
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Sovereign Independent Financial Advisers Ltd for the year ended 31 December 2015 which comprise of the balance sheet and the related notes 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, 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 Sovereign Independent Financial Advisers Ltd, as a body, in accordance with the terms of our engagement letter dated 15 February 2011. Our work has been undertaken solely to prepare for your approval the accounts of Sovereign Independent Financial Advisers Ltd and state those matters that we have agreed to state to the Board of Directors of Sovereign Independent Financial Advisers Ltd, 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 Sovereign Independent Financial Advisers Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Sovereign Independent Financial Advisers Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Sovereign Independent Financial Advisers Ltd. You consider that Sovereign Independent Financial Advisers Ltd 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 Sovereign Independent Financial Advisers Ltd. 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 abbreviated accounts.

Blenheim
Chartered Accountants and Business Advisers
Elm House, 10 Fountain Court
New Leaze
Bradley Stoke
Bristol
BS32 4LA

26 April 2016

Sovereign Independent Financial Advisers Ltd
Registered number:		04852639
Abbreviated Balance Sheet
as at 31 December 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	2		233,630			4,325

Current assets
Debtors		67,519			37,459
Cash at bank and in hand		108,244			129,469
		175,763			166,928

Creditors: amounts falling due within one year		(96,822)			(55,689)

Net current assets			78,941			111,239

Total assets less current liabilities			312,571			115,564

Creditors: amounts falling due after more than one year			(159,406)			-

Provisions for liabilities			-			(865)


Net assets			153,165			114,699

Capital and reserves
Called up share capital	3		1,000			1,000
Profit and loss account			152,165			113,699

Shareholders' funds			153,165			114,699

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.






MA Hibbitt
Director
Approved by the board on 26 April 2016

Sovereign Independent Financial Advisers Ltd
Notes to the Abbreviated Accounts
for the year ended 31 December 2015

1	Accounting policies

	Basis of preparation
	The accounts 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 value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Equipment			25% reducing balance
	Furniture and fixtures			25% reducing balance

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 January 2015					17,173
	Additions					230,803
	At 31 December 2015					247,976

	Depreciation
	At 1 January 2015					12,848
	Charge for the year					1,498
	At 31 December 2015					14,346

	Net book value
	At 31 December 2015					233,630
	At 31 December 2014					4,325


3	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	A Ordinary shares	£0.01 each		5,000		50		300
	B Ordinary shares	£0.01 each		19,900		199		100
	C Ordinary shares	£0.01 each		37,550		376		300
	D Ordinary shares	£0.01 each		25,000		250		300
	E Ordinary shares	£0.01 each		12,550		125		-
						1,000		1,000