Liberty Independent Financial Advisers L - Abbreviated accounts 16.1

REGISTERED NUMBER: 03465141 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

LIBERTY INDEPENDENT FINANCIAL ADVISERS

LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Stanton

I M Eadie

SECRETARIES:

Mrs S Stanton

Mrs V J Eadie

REGISTERED OFFICE:

4 The Barford Exchange

Wellesbourne Road

Barford

Warwick

Warwickshire

CV35 8AQ

REGISTERED NUMBER:

03465141 (England and Wales)

ACCOUNTANTS:

Chapman Nash Accountancy Limited

4, The Barford Exchange

Wellesbourne Road

Barford

Warwick

Warwickshire

CV35 8AQ

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

7,788

9,122

7,788

9,122

CURRENT ASSETS

Debtors

57,393

56,203

Cash at bank and in hand

15,142

14,502

72,535

70,705

CREDITORS

Amounts falling due within one year

(56,479

)

(55,406

)

NET CURRENT ASSETS

16,056

15,299

TOTAL ASSETS LESS CURRENT LIABILITIES

23,844

24,421

PROVISIONS FOR LIABILITIES

(922

)

(1,049

)

NET ASSETS

22,922

23,372

CAPITAL AND RESERVES

Called up share capital

4

22,000

22,000

Profit and loss account

922

1,372

SHAREHOLDERS' FUNDS

22,922

23,372

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 30 June 2016 and were signed on its behalf by:

I M Eadie - Director

M Stanton - Director

1.	ACCOUNTING POLICIES

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office equipment

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Deferred tax

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

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

and 31 December 2015

11,000

AMORTISATION

At 1 January 2015

and 31 December 2015

11,000

NET BOOK VALUE

At 31 December 2015

-

At 31 December 2014

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 January 2015

25,634

Additions

3,720

At 31 December 2015

29,354

DEPRECIATION

At 1 January 2015

16,512

Charge for year

5,054

At 31 December 2015

21,566

NET BOOK VALUE

At 31 December 2015

7,788

At 31 December 2014

9,122

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.15

31.12.14

value:

£

£

5,500

"A" Ordinary

£1

5,500

5,500

5,500

"B" Ordinary

£1

5,500

5,500

5,500

"C" Ordinary

£1

5,500

5,500

5,500

"D" Ordinary

£1

5,500

5,500

22,000

22,000

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2015

and 31 December 2014:

31.12.15

31.12.14

£

£

I M Eadie

Balance outstanding at start of year

1,734

3,234

Amounts advanced

-

2,000

Amounts repaid

(734

)

(3,500

)

Balance outstanding at end of year

1,000

1,734

M Stanton

Balance outstanding at start of year

1,734

3,234

Amounts advanced

-

2,000

Amounts repaid

(734

)

(3,500

)

Balance outstanding at end of year

1,000

1,734

The directors' loans have been repaid in full in June 2016.