OBK Limited - Abbreviated accounts 16.1

OBK Limited - Abbreviated accounts 16.1

OBK LIMITED - Company Information

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REGISTERED NUMBER: 05386724 (England and Wales)















ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

FOR

OBK LIMITED
TRADING AS
OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY

OBK LIMITED (REGISTERED NUMBER: 05386724)
TRADING AS OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

OBK LIMITED
TRADING AS OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2015







DIRECTOR: Paul Kennedy





SECRETARY: Lucy Kennedy





REGISTERED OFFICE: East Wing Goffs Oak House
Goffs Lane
Goffs Oak House
Goffs Lane
Hertfordshire
EN7 5BW





REGISTERED NUMBER: 05386724 (England and Wales)





ACCOUNTANTS: OBK Limited trading as O'Byrne & Kennedy
East Wing
Goffs Oak House
Goffs Lane
Goffs Oak
Hertfordshire
EN7 5BW
Page 1
OBK LIMITED (REGISTERED NUMBER: 05386724)
TRADING AS OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY

ABBREVIATED BALANCE SHEET
31 DECEMBER 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 288,750 323,750
Tangible assets 3 14,643 18,705
303,393 342,455

CURRENT ASSETS
Debtors 78,694 69,871
Cash at bank and in hand 34,740 95,093
113,434 164,964
CREDITORS
Amounts falling due within one year 361,246 433,699
NET CURRENT LIABILITIES (247,812 ) (268,735 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
55,581
73,720

CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account 55,580 73,719
SHAREHOLDERS' FUNDS 55,581 73,720

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 director acknowledges his 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 director on 23 September 2016 and were signed by:




Paul Kennedy - Director


The notes form part of these abbreviated accounts

Page 2
OBK LIMITED (REGISTERED NUMBER: 05386724)
TRADING AS OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015

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).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a
small company.

Turnover
Turnover comprises amounts chargeable to clients in respect of professional services provided during the year
including recoverable expenses on client assignments, exclusive of Value Added Tax.
Services provided to clients during the year, which at the balance sheet date have not been billed to clients have
been recognised as turnover in accordance with Financial Reporting Standard 5 "Reporting the substance of
transactions" and UITF 40 "Revenue recognition and service contracts." Turnover recognised in this manner is
based on an assessment of the fair value of services provided at the balance sheet date as a proportion of the total
value of the engagement. Unbilled revenue is included in debtors under Amounts recoverable on contracts.
Revenue billed in advance of services provided is included in creditors under prepaid income.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is charged at 33% per annum on cost on all tangible assets.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance
sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or
a right to pay less or to receive more tax.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance
sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension
scheme are charged to the profit and loss account in the period to which they relate.

Page 3 continued...
OBK LIMITED (REGISTERED NUMBER: 05386724)
TRADING AS OBK LIMITED TRADING AS O'BYRNE
AND KENNEDY

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015
and 31 December 2015 350,000
AMORTISATION
At 1 January 2015 26,250
Amortisation for year 35,000
At 31 December 2015 61,250
NET BOOK VALUE

At 31 December 2015 288,750
At 31 December 2014 323,750

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 27,722
Additions 6,287
At 31 December 2015 34,009
DEPRECIATION
At 1 January 2015 9,017
Charge for year 10,349
At 31 December 2015 19,366
NET BOOK VALUE
At 31 December 2015 14,643
At 31 December 2014 18,705

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
1 Ordinary £1 1 1

5. ULTIMATE PARENT COMPANY

The parent company is Paul M Kennedy Limited which owns 100% of the issued share capital. Paul M Kennedy
Limited is under the control of the majority shareholder, P Kennedy.

Page 4