Brodie & Company Limited - Period Ending 2016-03-31

Registration number: 05299013

Brodie & Company Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Hallidays
Chartered Accountants
Riverside House
Kings Reach Business Park
Yew Street
Stockport
SK4 2HD

Brodie & Company Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Brodie & Company Limited
(Registration number: 05299013)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Intangible fixed assets					67,500			75,000
Tangible fixed assets					3,589			687
Investments					-			46,500
					71,089			122,187
Current assets
Debtors					444,913			480,821
Cash at bank and in hand					282,528			42,279
					727,441			523,100
Creditors: Amounts falling due within one year					(655,161)			(466,339)
Net current assets					72,280			56,761
Net assets					143,369			178,948
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					142,369			177,948
Shareholders' funds					143,369			178,948

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Brodie & Company Limited
(Registration number: 05299013)
Abbreviated Balance Sheet at 31 March 2016
......... continued

For the year ending 31 March 2016 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 his 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 14 December 2016

 Mr J Brodie
 Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Brodie & Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion. No income is included in these accounts in respect of contingent fee work until the work is complete and the outcome decided.

Goodwill

Purchased Goodwill is capitalised at market value.

Amortisation

Amortisation is calculated so as to the write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset.

Asset class	Amortisation method and rate
Goodwill	Over 20 years

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the usefule economic life of that asset.

Asset class	Depreciation method and rate
Fixtures & fittings	25% on cost
Office equipment	33% on cost

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.

Page 3

Brodie & Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

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.

2	Fixed assets

		Intangible assets £			Tangible assets £			Investments £			Total £
Cost
At 1 April 2015		150,000			36,169			46,500			232,669
Additions		-			4,860			1,500			6,360
Disposals		-			-			(48,000)			(48,000)
At 31 March 2016		150,000			41,029			-			191,029
Depreciation
At 1 April 2015		75,000			35,482			-			110,482
Charge for the year		7,500			1,958			-			9,458
At 31 March 2016		82,500			37,440			-			119,940
Net book value
At 31 March 2016		67,500			3,589			-			71,089
At 31 March 2015		75,000			687			46,500			122,187

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

4	Related party transactions

Director's guarantee

During the year the company entered into the following guarantee on behalf of the director:

Page 4

Brodie & Company Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

There is a guarantee held by Allied Irish Bank for the liabilities of Brodie & Company Limited in the sum of £100,000 on behalf of Mr J Brodie. The maximum liability that may be incurred by the company is £100,000 (2015 - £100,000).

Page 5