EMPLOYEE BENEFIT SOLUTIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
Company Registration No. 04925192 (England and Wales)
EMPLOYEE BENEFIT SOLUTIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
EMPLOYEE BENEFIT SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2014
31 March 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
16,667
66,667
Tangible assets
2
17,796
16,685
34,463
83,352
Current assets
Debtors
205,248
206,731
Cash at bank and in hand
412,029
1,510,985
617,277
1,717,716
Creditors: amounts falling due within one year
(307,811)
(414,892)
Net current assets
309,466
1,302,824
Total assets less current liabilities
343,929
1,386,176
Capital and reserves
Called up share capital
3
681
681
Share premium account
79,932
79,932
Other reserves
375
375
Profit and loss account
262,941
1,305,188
Shareholders' funds
343,929
1,386,176
For the financial year ended 31 March 2014 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 financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 December 2014
M. Knight
Director
Company Registration No. 04925192
EMPLOYEE BENEFIT SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT.
Commissions receivable are recognised when the work carried out in relation to them is substantially complete, after making due allowance for anticipated clawbacks.
1.4
Goodwill
Goodwill represents the excess of cost of acquisition over the fair value of the separable net assets of businesses acquired.
Goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
20% straight line
Fixtures, fittings & equipment
25% reducing balance
EMPLOYEE BENEFIT SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2014
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2013
500,000
43,540
543,540
Additions
6,795
6,795
At 31 March 2014
500,000
50,335
550,335
Depreciation
At 1 April 2013
433,333
26,854
460,187
Charge for the year
50,000
5,685
55,685
At 31 March 2014
483,333
32,539
515,872
Net book value
At 31 March 2014
16,667
17,796
34,463
At 31 March 2013
66,667
16,685
83,352
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
375 Ordinary 'A' shares of £1 each
375
375
2,180 Ordinary 'B' shares of 10p each
218
218
500 Ordinary 'C' shares of 10p each
50
50
3,800 Ordinary 'D' shares of 1p each
38
38
681
681
4
Transactions with directors
Creditors include an amount of £47 (2013: £265) in respect of directors' loan accounts.
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