Poole Bay Funding Limited - Abbreviated accounts 16.3
Poole Bay Funding Limited - Abbreviated accounts 16.3
| REGISTERED NUMBER: |
| Abbreviated Accounts |
| for the Year Ended 30 June 2016 |
| for |
| Poole Bay Funding Limited |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Contents of the Abbreviated Accounts |
| for the year ended 30 June 2016 |
| Page |
| Company Information | 1 |
| Abbreviated Balance Sheet | 2 |
| Notes to the Abbreviated Accounts | 3 |
| Poole Bay Funding Limited |
| Company Information |
| for the year ended 30 June 2016 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Abbreviated Balance Sheet |
| 30 June 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 2 |
| CURRENT ASSETS |
| Debtors |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 3 |
| Profit and loss account |
| SHAREHOLDERS' FUNDS |
| 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 financial statements were approved by the director on |
| Poole Bay Funding Limited (Registered number: 04741248) |
| Notes to the Abbreviated Accounts |
| for the year ended 30 June 2016 |
| 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 commissions receivable as detailed below. The company is not VAT registered. |
| Tangible fixed assets |
| Office equipment | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
| balance sheet date. |
| Commission income and clawbacks |
| The company does not recognise potential commission income until such time as risk is accepted by the |
| insurer when it is then taken to the profit and loss account. |
| The company makes an assessment at each balance sheet date of the potential liability to repay commission |
| received to insurance companies in respect of lapsed policies. A provision is made to cover this potential |
| liability by giving due consideration to the business written and the likelihood of a proportion of policies |
| lapsing; this is based on the director's knowledge of the industry and past experience. |
| 2. | TANGIBLE FIXED ASSETS |
| Total |
| £ |
| COST |
| At 1 July 2015 |
| and 30 June 2016 |
| DEPRECIATION |
| At 1 July 2015 |
| Charge for year |
| At 30 June 2016 |
| NET BOOK VALUE |
| At 30 June 2016 |
| At 30 June 2015 |
| 3. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2016 | 2015 |
| value: | £ | £ |
| Ordinary | £1 |
| 4. | 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: |
| 2016 | 2015 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Balance outstanding at end of year |
| Interest at the official rate has been charged on the director's overdrawn current account. |