Finlay Associates Limited - Period Ending 2015-12-31

Registration number: 05302975

Finlay Associates Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Graham Jones LLP
The South Street Centre
16-20 South Street
Hythe
Southampton
SO45 6EB

Finlay Associates Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Finlay Associates Limited
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Finlay Associates Limited for the year ended 31 December 2015 set out on pages 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 Finlay Associates 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 Finlay Associates 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 Finlay Associates Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Finlay Associates 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 Finlay Associates Limited. You consider that Finlay Associates 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 Finlay Associates 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.

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

Graham Jones LLP
The South Street Centre
16-20 South Street
Hythe
Southampton
SO45 6EB

29 September 2016

Page 1

Finlay Associates Limited
(Registration number: 05302975)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets					7,347			8,460
Current assets
Debtors					123,503			79,524
Cash at bank and in hand					17,604			33,732
					141,107			113,256
Creditors: Amounts falling due within one year					(65,199)			(52,653)
Net current assets					75,908			60,603
Total assets less current liabilities					83,255			69,063
Creditors: Amounts falling due after more than one year					(34,014)			(2,452)
Net assets					49,241			66,611
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					49,141			66,511
Shareholders' funds					49,241			66,611

For the year ending 31 December 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 director acknowledges 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 director on 29 September 2016

.........................................
Mr Richard Norman
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Finlay Associates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 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 January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

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
Office Equipment	25% on reducing balance
Website	33% straight line

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.

Page 3

Finlay Associates Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		19,482			19,482
Additions		1,336			1,336
At 31 December 2015		20,818			20,818
Depreciation
At 1 January 2015		11,022			11,022
Charge for the year		2,449			2,449
At 31 December 2015		13,471			13,471
Net book value
At 31 December 2015		7,347			7,347
At 31 December 2014		8,460			8,460

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary Shares of £1 each		100			100			100			100

Page 4