D A Owen Financial Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 05371139

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

FOR

D A OWEN FINANCIAL SERVICES LIMITED

TRADING AS

HARRISON BEALE & OWEN FINANCIAL SERVICES

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

10,898

14,926

10,898

14,926

CURRENT ASSETS

Debtors

17,943

14,818

Cash at bank and in hand

456,586

463,323

474,529

478,141

CREDITORS

Amounts falling due within one year

306,192

338,035

NET CURRENT ASSETS

168,337

140,106

TOTAL ASSETS LESS CURRENT LIABILITIES

179,235

155,032

PROVISIONS FOR LIABILITIES

1,867

-

NET ASSETS

177,368

155,032

CAPITAL AND RESERVES

Called up share capital

4

200

200

Capital redemption reserve

25

25

Profit and loss account

177,143

154,807

SHAREHOLDERS' FUNDS

177,368

155,032

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 directors acknowledge their 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 Board of Directors on 21 February 2017 and were signed on its behalf by:

R N Kendall - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below and have remained unchanged

from the previous year.

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 commission income and fee income, excluding value added tax. Revenue is recognised on

the income in the period to which the income relates.

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 eight years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Furniture and equipment

-

20% on reducing balance

Computer equipment

-

33% on cost

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

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

250,000

AMORTISATION

At 1 July 2015

and 30 June 2016

250,000

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

62,706

Additions

2,169

At 30 June 2016

64,875

DEPRECIATION

At 1 July 2015

47,780

Charge for year

6,197

At 30 June 2016

53,977

NET BOOK VALUE

At 30 June 2016

10,898

At 30 June 2015

14,926

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

150

Ordinary A

£1

150

150

50

Ordinary B

£1

50

50

200

200