ACCOUNTS - Final Accounts

BEAUFORT CAPITAL MANAGEMENT UK LIMITED - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2016-12-312016-12-31The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueManagement of real estate on a fee or contract basisfalse2016-01-01 08699687 2016-01-01 2016-12-31 08699687 2015-01-01 2015-12-31 08699687 2016-12-31 08699687 2015-12-31 08699687 c:Director1 2016-01-01 2016-12-31 08699687 d:ComputerEquipment 2016-01-01 2016-12-31 08699687 d:ComputerEquipment 2016-12-31 08699687 d:ComputerEquipment 2015-12-31 08699687 d:ComputerEquipment d:OwnedOrFreeholdAssets 2016-01-01 2016-12-31 08699687 d:CurrentFinancialInstruments 2016-12-31 08699687 d:CurrentFinancialInstruments 2015-12-31 08699687 d:CurrentFinancialInstruments d:WithinOneYear 2016-12-31 08699687 d:CurrentFinancialInstruments d:WithinOneYear 2015-12-31 08699687 d:ShareCapital 2016-12-31 08699687 d:ShareCapital 2015-12-31 08699687 d:RetainedEarningsAccumulatedLosses 2016-12-31 08699687 d:RetainedEarningsAccumulatedLosses 2015-12-31 08699687 c:FRS102 2016-01-01 2016-12-31 08699687 c:AuditExempt-NoAccountantsReport 2016-01-01 2016-12-31 08699687 c:FullAccounts 2016-01-01 2016-12-31 08699687 c:PrivateLimitedCompanyLtd 2016-01-01 2016-12-31 iso4217:GBP xbrli:pure

Registered number: 08699687

BEAUFORT CAPITAL MANAGEMENT UK LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

BEAUFORT CAPITAL MANAGEMENT UK LIMITED

REGISTERED NUMBER: 08699687

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£

Fixed assets
Tangible assets	4		38		394
			38		394
Current assets
Debtors: amounts falling due within one year	5	68,088		49,114
Cash at bank and in hand	6	37,511		32,453
		105,599		81,567
Creditors: amounts falling due within one year	7	(34,580)		(68,092)
Net current assets			71,019		13,475
Total assets less current liabilities			71,057		13,869

Net assets			71,057		13,869

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	70,057	12,869
	71,057	13,869

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BEAUFORT CAPITAL MANAGEMENT UK LIMITED

REGISTERED NUMBER: 08699687

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2016

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 September 2017.

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

George Norman

Director

The notes on pages 3 to 6 form part of these financial statements.

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BEAUFORT CAPITAL MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

1.	General information

Beaufort Capital Management UK Limited is a private company limited by shares and incorporated in England. The company's registered office is at 64 New Cavendish Street, London, W1G 8TB.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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BEAUFORT CAPITAL MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment

33% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.4

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.5

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.6

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

2.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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BEAUFORT CAPITAL MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.Accounting policies (continued)

2.9

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Employees

The average monthly number of employees, including directors, during the year was 3 (2015 - 4).

4.	Tangible fixed assets

		Computer equipment
		£
	Cost or valuation
	At 1 January 2016	1,080
	At 31 December 2016	1,080
	Depreciation
	At 1 January 2016	686
	Charge for the year on owned assets	356
	At 31 December 2016	1,042
	Net book value
	At 31 December 2016	38
	At 31 December 2015	394

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BEAUFORT CAPITAL MANAGEMENT UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Debtors

					2016	2015
					£	£


Other debtors	58,263	48,906
Prepayments and accrued income	9,825	208
	68,088	49,114

6.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	37,511	32,453
	37,511	32,453

7.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Trade creditors	15,046	51,198
Corporation tax	14,386	1,646
Other taxation and social security	3,048	12,123
Accruals and deferred income	2,100	3,125
	34,580	68,092

8.	First time adoption of FRS 102 The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

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