Brogue Element Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08528319 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017

FOR

BROGUE ELEMENT LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr C A Lowe

REGISTERED OFFICE:

26 Great Queen Street

London

WC2B 5BB

REGISTERED NUMBER:

08528319 (England and Wales)

ACCOUNTANTS:

LEES

Chartered Certified Accountants

Puerorum House

1st Floor

26 Great Queen Street

London

WC2B 5BL

FIXED ASSETS

Tangible assets

3

-

250

CURRENT ASSETS

Debtors

4

8,585

14,458

Cash at bank

97,283

113,539

105,868

127,997

CREDITORS

Amounts falling due within one year

5

37,776

38,921

NET CURRENT ASSETS

68,092

89,076

TOTAL ASSETS LESS CURRENT LIABILITIES

68,092

89,326

CAPITAL AND RESERVES

Called up share capital

6

100

100

Retained earnings

67,992

89,226

SHAREHOLDERS' FUNDS

68,092

89,326

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

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 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 director on 23 January 2018 and were signed by:

Mr C A Lowe - Director

1.	STATUTORY INFORMATION

Brogue Element Ltd 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.

Turnover

Turnover represents the fair value of services provided during the year. Turnover is recognised as contract activity

progresses and the right to consideration is earned. Fair value reflects the amount expected to be recoverable from

clients. Turnover excludes value added tax. Unbilled turnover on individual contracts is included as accrued income

within other debtors.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance

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 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.

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.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2016

and 31 May 2017

749

DEPRECIATION

At 1 June 2016

499

Charge for year

250

At 31 May 2017

749

NET BOOK VALUE

At 31 May 2017

-

At 31 May 2016

250

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,124

13,570

Other debtors

461

888

8,585

14,458

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

29,685

33,862

Other creditors

8,091

5,059

37,776

38,921

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2017 and 31 May 2016:

2017

2016

£

£

Mr C A Lowe

Balance outstanding at start of year

(2,399

)

(5,647

)

Amounts advanced

122,440

92,114

Amounts repaid

(125,602

)

(88,866

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,561

)

(2,399

)

The loan from the director is interest free, unsecured and repayable on demand.