Barrington Jarvis Limited - Period Ending 2015-10-31

Registration number: 02720612

Barrington Jarvis Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Barrington Jarvis Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Barrington Jarvis Limited
(Registration number: 02720612)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					18,668			22,972
Investments					2,500			2,500
					21,168			25,472
Current assets
Debtors					178,409			205,234
Cash at bank and in hand					422,050			419,732
					600,459			624,966
Creditors: Amounts falling due within one year					(192,806)			(228,005)
Net current assets					407,653			396,961
Net assets					428,821			422,433
Capital and reserves
Called up share capital		3			16,796			16,796
Other reserves					-			20,000
Profit and loss account					412,025			385,637
Shareholders' funds					428,821			422,433

For the year ending 31 October 2015 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 26 July 2016 and signed on its behalf by:

.........................................
Mr P M Jarvis ASFA
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Barrington Jarvis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

Commissions on transactions in life policies and pension contracts are recognised on a receipts basis as amended for commissions due in the year and confirmed paid after the year end. Commissions on policies written under indemnity terms are reduced by a provision for payment in the event that premiums cease within the indemnity period. At the balance sheet date this provision was not made on the basis of materiality.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance basis
Fixtures and fittings	20% reducing balance basis
Office equipment	33% straight line basis
Leasehold property	Over the lease term

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Barrington Jarvis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 November 2014		124,871			2,500			127,371
Additions		4,086			-			4,086
Disposals		(2,772)			-			(2,772)
At 31 October 2015		126,185			2,500			128,685
Depreciation
At 1 November 2014		101,899			-			101,899
Charge for the year		8,389			-			8,389
Eliminated on disposals		(2,771)			-			(2,771)
At 31 October 2015		107,517			-			107,517
Net book value
At 31 October 2015		18,668			2,500			21,168
At 31 October 2014		22,972			2,500			25,472

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
Austin De Vere Limited		Ordinary shares	100%	Dormant

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary A shares of £1 each		16,666			16,666			16,666			16,666
Ordinary B shares of £1 each		100			100			100			100
Ordinary C shares of £1 each		20			20			20			20

Page 3

Barrington Jarvis Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... continued

Ordinary D shares of £1 each		10			10			10			10
		16,796			16,796			16,796			16,796

4	Related party transactions

Directors' advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr P M Jarvis ASFA
Advance from the company of which interest is charged at a rate of 3.25% pa.	-	65,170	65,170	-

5

Control

The company is controlled by Mr P M Jarvis who is a director and owns 74.9% of the issued share capital.

Page 4