Freemasons of Bristol Ltd - Period Ending 2016-12-31

Registration number: 00486570

Freemasons of Bristol Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 December 2016

James Barry Limited
Unit 13
Highnam Business Centre
Highnam
Gloucester
Gloucestershire
GL2 8DN

Freemasons of Bristol Ltd

Contents

Company Information	1
Directors' Report	2
Abridged Balance Sheet	3 to 4
Notes to the Abridged Financial Statements	5 to 7

Freemasons of Bristol Ltd

Company Information

Directors

Mr Philip Albery Mr Basil Woodward Mr Stephen Simmons Mr Christopher Williams Mr Viv Bevan Mr John Dwyer Mr Allan Rosengren Mr Ian Venn Mr Alan Vaughan Mr Stephen Rawlings

Company secretary

Mr Ian Venn

Registered office

Freemasons' Hall 31 Park Street Bristol BS1 5NH

Accountants

James Barry Limited Unit 13 Highnam Business Centre Highnam Gloucester Gloucestershire GL2 8DN

Page 1

Freemasons of Bristol Ltd

Directors' Report for the Year Ended 31 December 2016

The directors present their report and the abridged financial statements for the year ended 31 December 2016.

Directors of the company

The directors who held office during the year were as follows:

Mr Philip Albery

Mr Basil Woodward

Mr Stephen Simmons

Mr Christopher Williams

Mr Viv Bevan

Mr John Dwyer

Mr Allan Rosengren

Mr Ian Venn - Company secretary and director

Mr Alan Vaughan

Mr Stephen Rawlings

Principal activity

The principal activity of the company is that of property management

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 3 April 2017 and signed on its behalf by:
 

.........................................

Mr Alan Vaughan

Director

Page 2

Freemasons of Bristol Ltd

(Registration number: 00486570)
Abridged Balance Sheet as at 31 December 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	3	360,646	384,496
Current assets
Debtors		36,868	42,978
Cash at bank and in hand		68,815	74,056
		105,683	117,034
Prepayments and accrued income		25,054	20,581
Creditors: Amounts falling due within one year		(12,739)	(21,497)
Net current assets		117,998	116,118
Total assets less current liabilities		478,644	500,614
Creditors: Amounts falling due after more than one year		(250,000)	(250,000)
Accruals and deferred income		(16,396)	(2,749)
Net assets		212,248	247,865
Capital and reserves
Called up share capital		42	42
Other reserves		192,923	194,998
Profit and loss account		19,283	52,825
Total equity		212,248	247,865

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

The notes on pages 5 to 7 form an integral part of these abridged financial statements.

Page 3

Freemasons of Bristol Ltd

(Registration number: 00486570)
Abridged Balance Sheet as at 31 December 2016

Approved and authorised by the Board on 3 April 2017 and signed on its behalf by:
 

.........................................

Mr Alan Vaughan

Director

The notes on pages 5 to 7 form an integral part of these abridged financial statements.

Page 4

Freemasons of Bristol Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

1	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold land and buildings	nil
Fixtures and fittings	15% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Page 5

Freemasons of Bristol Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2015 - 1).

3	Tangible assets

	Total £
Cost or valuation
At 1 January 2016	550,982
At 31 December 2016	550,982
Depreciation
At 1 January 2016	166,486
Charge for the year	23,850
At 31 December 2016	190,336
Carrying amount
At 31 December 2016	360,646
At 31 December 2015	384,496

Included within the net book value of land and buildings above is £177,494 (2015 - £177,494) in respect of freehold land and buildings.
 

Page 6

Freemasons of Bristol Ltd

Notes to the Abridged Financial Statements for the Year Ended 31 December 2016

4	Transition to FRS 102

FIRST YEAR ADOPTION

This year is the first year the company has presented its results under FRS 102 Section 1 A. The last financial statements prepared under the previous UK GAAP were for the year ended 31st December 2015. The date of transition to FRS 102 Section 1 A was 1st January 2015.

No material adjustments have been noted on transition to FRS 102 Section 1 A

Page 7