G.s. Brown Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05478388 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2016

FOR

G.S. BROWN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G S Brown

SECRETARY:

Mrs C A Brown

REGISTERED OFFICE:

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

REGISTERED NUMBER:

05478388 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

1,387,435

1,371,610

Investments

4

69,800

63,114

1,457,235

1,434,724

CURRENT ASSETS

Stocks

755,760

665,835

Debtors

493,958

184,402

Cash in hand

929

50

1,250,647

850,287

CREDITORS

Amounts falling due within one year

839,397

534,066

NET CURRENT ASSETS

411,250

316,221

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,868,485

1,750,945

CREDITORS

Amounts falling due after more than one
year

(303,676

)

(397,310

)

PROVISIONS FOR LIABILITIES

(12,013

)

(2,600

)

NET ASSETS

1,552,796

1,351,035

CAPITAL AND RESERVES

Called up share capital

5

150

Profit and loss account

1,552,646

1,350,885

SHAREHOLDERS' FUNDS

1,552,796

1,351,035

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 24 February 2017 and were signed by:

G S Brown - 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

not provided

Plant and machinery etc

-

25% on cost and 20% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

111,800

AMORTISATION

At 1 July 2015

and 30 June 2016

111,800

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

1,453,694

Additions

77,784

Disposals

(42,976

)

At 30 June 2016

1,488,502

DEPRECIATION

At 1 July 2015

82,084

Charge for year

31,828

Eliminated on disposal

(12,845

)

At 30 June 2016

101,067

NET BOOK VALUE

At 30 June 2016

1,387,435

At 30 June 2015

1,371,610

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 July 2015

75,253

Additions

17,012

At 30 June 2016

92,265

PROVISIONS

At 1 July 2015

12,139

Impairments

10,326

At 30 June 2016

22,465

NET BOOK VALUE

At 30 June 2016

69,800

At 30 June 2015

63,114

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.16

30.6.15

value:

£

150

Ordinary

£1

150

6.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2016 and

30 June 2015:

30.6.16

30.6.15

£

G S Brown

Balance outstanding at start of year

87,048

63,677

Amounts advanced

26,009

25,743

Amounts repaid

(5,730

)

(2,372

)

Balance outstanding at end of year

107,327

87,048