Smith, Law & Shepherds I.F.A. Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 06866394 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2015

for

Smith, Law & Shepherds I.F.A. Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

C Dwyer

P N Smith

REGISTERED OFFICE:

209 Liverpool Road

Birkdale

Southport

Merseyside

PR8 4PH

REGISTERED NUMBER:

06866394 (England and Wales)

ACCOUNTANTS:

Topping & Company

Chartered Accountants

209 Liverpool Road

Birkdale

Southport

Merseyside

PR8 4PH

FIXED ASSETS

Tangible assets

2

3,790

3,067

CURRENT ASSETS

Debtors

42,194

35,816

Cash at bank

42,360

25,762

84,554

61,578

CREDITORS

Amounts falling due within one year

87,384

53,060

NET CURRENT (LIABILITIES)/ASSETS

(2,830

)

8,518

TOTAL ASSETS LESS CURRENT
LIABILITIES

960

11,585

PROVISIONS FOR LIABILITIES

270

-

NET ASSETS

690

11,585

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

590

11,485

SHAREHOLDERS' FUNDS

690

11,585

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 20 July 2016 and were signed on its behalf by:

P N Smith - 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 April 2008).

Turnover

Turnover represents net commissions and fees receivable, including value added tax where applicable.

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 etc

-

33% on cost, 15% on reducing balance and 2% on cost

Deferred tax

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

sheet date.

Government grants

Other operating income is represented by government grants. Government grants are accounted for on a

received basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

3,219

Additions

1,084

At 31 October 2015

4,303

DEPRECIATION

At 1 November 2014

152

Charge for year

361

At 31 October 2015

513

NET BOOK VALUE

At 31 October 2015

3,790

At 31 October 2014

3,067

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

65

A Ordinary

£1

65

30

B Ordinary

£1

30

5

C Ordinary

£1

5

100