Mulberry Independent Financial Advisers Ltd
Mulberry Independent Financial Advisers Ltd
Registered number: 05973527
Unaudited Financial Statements
For The Year Ended 31 January 2018
Ashden Accountants
3 William House
Old Saint Michaels Drive
Rayne Road
Braintree, Essex
CM7 2AA
Mulberry Independent Financial Advisers Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2018
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Mulberry Independent Financial Advisers Ltd
Balance Sheet
As at
31 January 2018
Balance Sheet
Registered number:
05973527
For the year ending 31 January 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2018 | 2017 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 7 |
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| CURRENT ASSETS | |||||
| Debtors | 8 |
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| Investments | 9 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 10 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 11 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 12 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 13 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 114,474 | 86,572 | |||
Page 1
Mulberry Independent Financial Advisers Ltd
Balance Sheet (continued)
As at
31 January 2018
Directors' responsibilities:
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. -
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. -
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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The notes on pages 3 to 6 form part of these financial statements.
Page 2
Mulberry Independent Financial Advisers Ltd
Notes to the Financial Statements
For The Year Ended 31 January 2018
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
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.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Leasehold |
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| Plant & Machinery |
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| Fixtures & Fittings |
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| Computer Equipment |
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1.5.
Taxation
The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.
1.6.
Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
Page 3
Mulberry Independent Financial Advisers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2018
6.
Intangible Assets
| Goodwill | |||
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| Cost | |||
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| Amortisation | |||
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| Net Book Value | |||
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7.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
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| £ | £ | £ | £ | |
| Cost | ||||
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| Additions |
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| Depreciation | ||||
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| Provided during the period |
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| Net Book Value | ||||
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8.
Debtors
| 2018 | 2017 | ||
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| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Prepayments and accrued income |
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| Other debtors |
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Page 4
Mulberry Independent Financial Advisers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2018
9.
Current Asset Investments
| 2018 | 2017 | ||
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| £ | £ | ||
| Unlisted investments | 93,069 | 86,731 | |
| Other investments, held for sale |
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10.
Creditors: Amounts Falling Due Within One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Net wages | 2,452 | - | |
| Accruals and deferred income |
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| Directors' loan accounts |
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11.
Creditors: Amounts Falling Due After More Than One Year
| 2018 | 2017 | ||
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| £ | £ | ||
| Other long term loans b/fwd |
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12.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 2018 | 2017 | ||
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| £ | £ | ||
| Deferred tax |
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14.
Directors Advances, Credits and Guarantees
Dividends paid to directors
| 2018 | 2017 | |
|---|---|---|
| £ | £ | |
| Mr Matthew Allen | 181,017 | 142,200 |
| Mr Simon Allen | 181,017 | 142,200 |
| Mrs Sarah Pearson | 15,094 | - |
Page 5
Mulberry Independent Financial Advisers Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2018
15.
Dividends
| 2018 | 2017 | ||
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| £ | £ | ||
| On equity shares: | |||
| Final dividend paid |
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| 377,128 | 284,400 | ||
16.
Ultimate Controlling Party
The company's ultimate controlling party is Simon & Matthew Allen by virtue of their joint ownership of 95% of the issued share capital in the company.
17.
General Information
Mulberry Independent Financial Advisers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05973527 . The registered office is 66 Hampton Road, Twickenham, Middlesex, TW2 5QB.
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