Ian Bull Limited - Period Ending 2016-03-31

Registration number: 04523096

Ian Bull Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2016
 

Palmer, Riley & Co.
Chartered Accountants
1st Floor, Unit E2
Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT

Ian Bull Limited
Contents

Director's Report 1

Accountants' Report 2

Profit and Loss Account 3

Balance Sheet and Notes to the Financial Statements 4

Ian Bull Limited
Director's Report for the Year Ended 31 March 2016

The director presents his report and the unaudited financial statements for the year ended 31 March 2016.

Director of the company

The director who held office during the year was as follows:

Mr I P Bull

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 1 July 2016 and signed on its behalf by:

.........................................
Mr I P Bull
Director

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Ian Bull 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 Ian Bull Limited for the year ended 31 March 2016 set out on pages 3 to 5 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 Ian Bull 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 Ian Bull 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 Ian Bull Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Ian Bull 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 profit of Ian Bull Limited. You consider that Ian Bull 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 Ian Bull 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.

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

Palmer, Riley & Co.
Chartered Accountants
1st Floor, Unit E2
Fareham Heights
Standard Way
Fareham
Hampshire
PO16 8XT

1 July 2016

Page 2

Ian Bull Limited
Profit and Loss Account for the Year Ended 31 March 2016

		2016 £			2015 £
Turnover		100,310			95,885
Other income		991			1,030
Cost of raw materials and consumables		(588)			(630)
Staff costs		(11,919)			(11,301)
Depreciation and other amounts written off assets		(5,298)			(10,009)
Other charges		(30,452)			(32,643)
Tax		(10,632)			(8,466)
Profit		42,412			33,866

Page 3

Ian Bull Limited
(Registration number: 04523096)
Balance Sheet at 31 March 2016

		2016 £			2015 £
Fixed assets		13,896			19,194
Current assets		35,386			37,336
Creditors: Amounts falling due within one year		(31,573)			(32,994)
Net current assets		3,813			4,342
Total assets less current liabilities		17,709			23,536
Creditors: Amounts falling due after more than one year		(6,614)			(11,404)
Provisions for liabilities		(2,428)			(3,277)
Accruals and deferred income		(1,285)			(1,285)
Net assets		7,382			7,570
Capital and reserves		7,382			7,570

Notes to the Financial Statements

1	Director''s advances, credits and guarantees

Director''s advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr I P Bull
During the year advances were made between Mr I P Bull and the company. These advances resulted in a net liabiility owed to the company. The advances were made to assist with general living expenses and were charged interest at a rate of 3%. These advances are repayable on demand	84,677	53,207	72,383	37,217

Page 4

These accounts have been prepared in accordance with the micro-entity provisions and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

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 director acknowledges responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the director on 1 July 2016

.........................................
Mr I P Bull
Director

Page 5