Brogue Element Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08528319 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

BROGUE ELEMENT LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mr C A Lowe

REGISTERED OFFICE:

26 Great Queen Street

London

WC2B 5BB

REGISTERED NUMBER:

08528319 (England and Wales)

ACCOUNTANTS:

Shaw Walker LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

FIXED ASSETS

Tangible assets

2

250

499

CURRENT ASSETS

Debtors

14,458

13,464

Cash at bank

113,539

80,698

127,997

94,162

CREDITORS

Amounts falling due within one year

38,921

43,836

NET CURRENT ASSETS

89,076

50,326

TOTAL ASSETS LESS CURRENT LIABILITIES

89,326

50,825

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

89,226

50,725

SHAREHOLDERS' FUNDS

89,326

50,825

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 15 January 2017 and were signed by:

Mr C A Lowe - 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 January 2015).

Turnover

Turnover represents the fair value of services provided during the year. Turnover is recognised as contract

activity progresses and the right to consideration is earned. Fair value reflects the amount expected to be

recoverable from clients. Turnover excludes value added tax. Unbilled turnover on individual contracts is

included as accrued income within other debtors.

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

Deferred tax

The charge for taxation is based on the results for the year and takes into account taxation deferred because of

timing differences between the treatment of certain items for taxation and accounting purposes. In accordance

with the Financial Reporting Standard for Smaller Entities (effective January 2015), provision is made for

deferred tax in respect of all timing differences that have been originated but not reversed by the balance sheet

date. Deferred tax assets are recognised when it is more likely than not that the asset will be recovered.

Deferred tax is measured using rates that have been enacted or substantially enacted by the balance sheet

date. Deferred tax balances are not discounted.

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.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

749

DEPRECIATION

At 1 June 2015

250

Charge for year

249

At 31 May 2016

499

NET BOOK VALUE

At 31 May 2016

250

At 31 May 2015

499

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2016 and

31 May 2015:

2016

2015

£

£

Mr C A Lowe

Balance outstanding at start of year

(5,647

)

(1,107

)

Amounts advanced

92,114

99,553

Amounts repaid

(88,866

)

(104,093

)

Balance outstanding at end of year

(2,399

)

(5,647

)