Gregory Brown (Staines) Limited - Accounts to registrar - small 17.1

REGISTERED NUMBER: 05296384 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

GREGORY BROWN (STAINES) LIMITED

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

7

Chartered Accountants' Report

8

DIRECTORS:

T M Elliott

W H Whitelock

SECRETARY:

T M Elliott

REGISTERED OFFICE:

127a High Street

Staines

Middlesex

TW18 4PD

REGISTERED NUMBER:

05296384 (England and Wales)

ACCOUNTANTS:

Lawford Business Services Ltd

Chartered Accountants

The Old Station

Moor Lane

Staines-upon-Thames

Middlesex

TW18 4BB

FIXED ASSETS

Intangible assets

4

1

1

Tangible assets

5

92

419

93

420

CURRENT ASSETS

Debtors

6

808,272

663,789

Cash at bank

48,446

109,566

856,718

773,355

CREDITORS

Amounts falling due within one year

7

37,739

46,920

NET CURRENT ASSETS

818,979

726,435

TOTAL ASSETS LESS CURRENT LIABILITIES

819,072

726,855

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

809,072

716,855

SHAREHOLDERS' FUNDS

819,072

726,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 November 2017 and were signed on its behalf by:

T M Elliott - Director

1.	STATUTORY INFORMATION

Gregory Brown (Staines) Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The transition date to FRS 102 was 1 April 2015. No transitional adjustments were required.

Turnover

Turnover is measured at the fair value of the consideration received or receivable in respect of services supplied,

exclusive of value added tax.

Goodwill

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that asset as follows:

Goodwill - 100% in year of purchase

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

At each balance sheet date, the company reviews the carrying amounts of its property, plant and equipment to

determine whether there is any indication that any items of property, plant and equipment have suffered an

impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to

determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount

of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset

belongs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

34,000

AMORTISATION

At 1 April 2016

and 31 March 2017

33,999

NET BOOK VALUE

At 31 March 2017

1

At 31 March 2016

1

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

1

2,115

3,750

4,742

10,608

Additions

-

-

-

158

158

At 31 March 2017

1

2,115

3,750

4,900

10,766

DEPRECIATION

At 1 April 2016

-

2,112

3,749

4,328

10,189

Charge for year

-

-

-

485

485

At 31 March 2017

-

2,112

3,749

4,813

10,674

NET BOOK VALUE

At 31 March 2017

1

3

1

87

92

At 31 March 2016

1

3

1

414

419

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

10,865

3,781

Other debtors

637,651

481,921

Directors' current accounts

69,756

118,087

Prepayments and accrued income

90,000

60,000

808,272

663,789

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,470

5,721

Tax

23,305

33,252

VAT

7,044

6,147

Other creditors

120

-

Accrued expenses

1,800

1,800

37,739

46,920

8.	OTHER FINANCIAL COMMITMENTS

At 31 March 2017, the company had total commitments under non-cancellable operating leases over the

remaining life of those leases of £145,000 (2016: £160,000).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

T M Elliott

Balance outstanding at start of year

90,402

250,750

Amounts advanced

43,325

180,882

Amounts repaid

(98,476

)

(341,230

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,251

90,402

W H Whitelock

Balance outstanding at start of year

27,685

-

Amounts advanced

21,842

89,018

Amounts repaid

(15,021

)

(61,333

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

34,506

27,685

The directors current accounts with the company were overdrawn at the end of the financial year, but were fully

reimbursed within 9 months of the year end. These amounts were interest free.

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Gregory Brown (Staines) Limited for the year ended 31 March 2017 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Gregory Brown (Staines) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gregory Brown (Staines) Limited and state those matters that we have agreed to state to the Board of Directors of Gregory Brown (Staines) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gregory Brown (Staines) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gregory Brown (Staines) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gregory Brown (Staines) Limited. You consider that Gregory Brown (Staines) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gregory Brown (Staines) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Lawford Business Services Ltd

Chartered Accountants

The Old Station

Moor Lane

Staines-upon-Thames

Middlesex

TW18 4BB

29 November 2017