Browns Plymouth Limited - Accounts to registrar - small 16.1.1

REGISTERED NUMBER: 05029272 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2016

for

Browns Plymouth Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D M Brown

REGISTERED OFFICE:

13 Hillside Road

Saltash

Cornwall

PL12 6EX

REGISTERED NUMBER:

05029272 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

2,921

2,961

2,921

2,961

CURRENT ASSETS

Stocks

1,500

1,500

Debtors: amounts falling due within one year

6

40,000

-

Cash at bank

6,155

34,567

47,655

36,067

CREDITORS

Amounts falling due within one year

7

32,092

18,500

NET CURRENT ASSETS

15,563

17,567

TOTAL ASSETS LESS CURRENT LIABILITIES

18,484

20,528

PROVISIONS FOR LIABILITIES

16

24

NET ASSETS

18,468

20,504

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

18,368

20,404

SHAREHOLDERS' FUNDS

18,468

20,504

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2016 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 26 September 2016 and were signed by:

D M Brown - Director

1.	STATUTORY INFORMATION

Browns Plymouth Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax. Turnover is

recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been fully

amortised evenly over its estimated useful life of five years.

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 reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

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

balance sheet date.

Foreign currencies

Assets and liabilities, together with transactions in foreign currencies are translated into sterling at the rates of

exchange ruling at the balance sheet date. Exchange differences are taken into account in arriving at the

operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2015

and 31 January 2016

15,000

AMORTISATION

At 1 February 2015

and 31 January 2016

15,000

NET BOOK VALUE

At 31 January 2016

-

At 31 January 2015

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 February 2015

and 31 January 2016

3,516

DEPRECIATION

At 1 February 2015

555

Charge for year

40

At 31 January 2016

595

NET BOOK VALUE

At 31 January 2016

2,921

At 31 January 2015

2,961

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.16

31.1.15

£

£

Intercompany

40,000

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.16

31.1.15

£

£

Corporation Tax

3,749

2,001

Directors' current accounts

27,443

15,599

Accrued expenses

900

900

32,092

18,500

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

a) Included within creditors is a balance of £27,443 owed to the director. No interest is applied to the balance

owed and there are no formal settlement terms.

b) Mr D M Brown the director of the company, received dividends during the year, amounting to £17,000.

9.	RELATED PARTY DISCLOSURES

Included within debtors is a loan totalling £40,000 to Browns More Hair Now Limited, a company which Mr

Brown's daughter has a material interest. The loan will be repayable over a 5 year term, with interest charged at

a rate of 3% per annum.

10.	ULTIMATE CONTROLLING PARTY

11.	FIRST YEAR ADOPTION

The Company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) as at 1st

January 2014.

The impact from the transition has been reviewed for transitional adjustments, of which there are none.