Company Registration No. 03782128 (England and Wales)
GRIFFITHS FINANCIAL PLANNING LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
GRIFFITHS FINANCIAL PLANNING LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
GRIFFITHS FINANCIAL PLANNING LTD
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,434
2,919
Current assets
Debtors
9,641
5,109
Cash at bank and in hand
92,686
96,162
102,327
101,271
Creditors: amounts falling due within one year
(21,329)
(23,557)
Net current assets
80,998
77,714
Total assets less current liabilities
82,432
80,633
Provisions for liabilities
-
(59)
82,432
80,574
Capital and reserves
Called up share capital
3
300
300
Profit and loss account
82,132
80,274
Shareholders' funds
82,432
80,574
For the financial year ended 31 May 2016 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 financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 26 September 2016
Mr A. J. Griffiths
Director
Company Registration No. 03782128
GRIFFITHS FINANCIAL PLANNING LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016
- 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 January 2015).
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 commissions and fees receivable for advisory services.
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 less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
50% on cost
Fixtures, fittings & equipment
25% on cost
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
6,406
Depreciation
At 1 June 2015
3,487
Charge for the year
1,485
At 31 May 2016
4,972
Net book value
At 31 May 2016
1,434
At 31 May 2015
2,919
GRIFFITHS FINANCIAL PLANNING LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
100 Class A of £1 each
100
100
100 Class B of £1 each
100
100
300
300