SOVEREIGN_RESERVE_LIMITED - Accounts

SOVEREIGN WEALTH LIMITED - Company Information

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Company Registration No. 07115386 (England and Wales)

SOVEREIGN RESERVE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2014

SOVEREIGN RESERVE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

SOVEREIGN RESERVE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Intangible assets

814,141

890,204

Current assets

Debtors

43,050

25,093

Cash at bank and in hand

65,252

195,752

108,302

220,845

Creditors: amounts falling due within one year

(499,888)

(760,052)

Net current liabilities

(391,586)

(539,207)

Total assets less current liabilities

422,555

350,997

Creditors: amounts falling due after more than one year

(152,500)

422,555

198,497

Capital and reserves

Called up share capital

Profit and loss account

422,553

198,495

Shareholders' funds

422,555

198,497

For the financial year ended 31 January 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 8 August 2014

Mr C J Mardon

Director

Company Registration No. 07115386

SOVEREIGN RESERVE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2014

- 2 -

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 commissions.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.

Fixed assets

Intangible assets

Cost

At 1 February 2013

1,310,408

Additions

224,759

At 31 January 2014

1,535,167

Depreciation

At 1 February 2013

420,204

Charge for the year

300,822

At 31 January 2014

721,026

Net book value

At 31 January 2014

814,141

At 31 January 2013

890,204

Share capital

2014

2013

Allotted, called up and fully paid

2 Ordinary shares of £1 each