R E T BROWN ASSOCIATES LTD - Period Ending 2017-07-31

Registration number: 09666328

R E T BROWN ASSOCIATES LTD

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2017

Umbrella Accountants LLP
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

R E T BROWN ASSOCIATES LTD

Contents

Company Information	1
Accountants' Report	2
Statement of Comprehensive Income	3
Balance Sheet	4
Statement of Changes in Equity	5
Notes to the Financial Statements	6 to 8

R E T BROWN ASSOCIATES LTD

Company Information

Director

Mr Robert Brown

Registered office

ROSEBANK TOWN HILL LINGFIELD SURREY RH7 6AE

Accountants

Umbrella Accountants LLP Bollin House Bollin Link Wilmslow Cheshire SK9 1DP

Page 1

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
R E T BROWN ASSOCIATES LTD
for the Year Ended 31 July 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of R E T BROWN ASSOCIATES LTD for the year ended 31 July 2017 as set out on pages 3 to 8 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of R E T BROWN ASSOCIATES LTD, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of R E T BROWN ASSOCIATES LTD and state those matters that we have agreed to state to the Board of Directors of R E T BROWN ASSOCIATES LTD, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than R E T BROWN ASSOCIATES LTD and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that R E T BROWN ASSOCIATES LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of R E T BROWN ASSOCIATES LTD. You consider that R E T BROWN ASSOCIATES LTD 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 accounts of R E T BROWN ASSOCIATES LTD. 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 accounts.

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

Umbrella Accountants LLP
Bollin House
Bollin Link
Wilmslow
Cheshire
SK9 1DP

30 April 2018

Page 2

R E T BROWN ASSOCIATES LTD

Statement of Comprehensive Income for the Year Ended 31 July 2017

	Note	2017 £	2016 £
Profit for the year		70,167	78,858
Total comprehensive income for the year		70,167	78,858

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 3

R E T BROWN ASSOCIATES LTD

(Registration number: 09666328)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Current assets
Debtors	4	555	7,759
Cash at bank and in hand		95,630	56,972
		96,185	64,731
Creditors: Amounts falling due within one year	5	(22,517)	(25,877)
Net assets		73,668	38,854
Capital and reserves
Called up share capital		1	1
Profit and loss account		73,667	38,853
Total equity		73,668	38,854

For the financial year ending 31 July 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 30 April 2018
 

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

Mr Robert Brown

Director

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 4

R E T BROWN ASSOCIATES LTD

Statement of Changes in Equity for the Year Ended 31 July 2017

	Share capital £	Profit and loss account £	Total £
At 1 August 2016	1	38,853	38,854
Profit for the year	-	70,167	70,167
Total comprehensive income	-	70,167	70,167
Dividends	-	(35,353)	(35,353)
At 31 July 2017	1	73,667	73,668

	Share capital £	Profit and loss account £	Total £
At 1 July 2015	1	-	1
Profit for the year	-	78,858	78,858
Total comprehensive income	-	78,858	78,858
Dividends	-	(40,005)	(40,005)
At 31 July 2016	1	38,853	38,854

The notes on pages 6 to 8 form an integral part of these financial statements.

Page 5

R E T BROWN ASSOCIATES LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of its registered office is:
ROSEBANK
TOWN HILL
LINGFIELD
SURREY
RH7 6AE
United Kingdom

These financial statements were authorised for issue by the director on 30 April 2018.

2	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 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.

These financial statements for the year ended 31 July 2017 are the first financial statements that comply with FRS 102 Section 1A small entities. The date of transition is 1 August 2016. The transition to FRS 102 Section 1A small entities has resulted in a small number of changes in accounting policies to those used previously.

Basis of preparation

These 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.

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Page 6

R E T BROWN ASSOCIATES LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

4

Debtors

	2017 £	2016 £
Trade debtors	555	7,758
Other debtors	-	1
Total current trade and other debtors	555	7,759

5

Creditors

	Note	2017 £	2016 £
Due within one year
Taxation and social security		5,340	5,926
Corporation tax		17,177	19,951
		22,517	25,877

Page 7

R E T BROWN ASSOCIATES LTD

Notes to the Financial Statements for the Year Ended 31 July 2017

6

Dividends

	2017	2016
	£	£
Final dividend of £35,352.90 (2016 - £40,005.61) per ordinary share	35,353	40,005

7	Related party transactions

Transactions with directors

Directors' remuneration

The director's remuneration for the year was as follows:

	2017 £	2016 £
Remuneration	8,096	2,684

Other transactions with directors

Dividends of £35,353 and salary of £8,096 were paid to the Director, Mr Robert Brown during the year. At the balance sheet date the amount due toMr Robert Brown was £nil.

Page 8