Michael Bray Associates Limited
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Registered number: |
09515248
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Balance Sheet |
as at 31 March 2017
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|
Notes |
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2017 |
|
2016 |
|
|
|
£ |
£ |
|
£ |
£ |
Fixed assets |
Investments |
3 |
|
|
59,657 |
|
|
- |
|
Current assets |
Debtors |
4 |
|
8,446 |
|
|
30,330 |
Cash at bank and in hand |
|
|
40,690 |
|
|
218,941 |
|
|
|
49,136 |
|
|
249,271 |
|
Creditors: amounts falling due within one year |
5 |
|
(31,408) |
|
|
(104,703) |
|
Net current assets |
|
|
|
17,728 |
|
|
144,568 |
|
Net assets |
|
|
|
77,385 |
|
|
144,568 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
77,285 |
|
|
144,468 |
|
Shareholders' funds |
|
|
|
77,385 |
|
|
144,568 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. As permitted by section 444(5A) of the Companies Act 2006 the directors have not delivered to the Registrar the company's profit and loss account and directors' report.
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M P Bray |
Director |
Approved by the board on 8 June 2017
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Michael Bray Associates Limited
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Notes to the Accounts |
for the year ended 31 March 2017
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|
1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention , modified to include the revaluation of certain assets, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). There were no material departures from that Standard.
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
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|
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Interest and dividends receivable |
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Interest income is recognised on receivable basis. |
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Investments |
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Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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|
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Debtors and creditors receivable or payable within one year |
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Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
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Impairment |
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Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
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Taxation |
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Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Provisions |
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Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event and, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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1 |
Accounting policies (continued) |
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Foreign currency translation |
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Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit or loss.
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|
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
Additions |
59,657 |
|
|
At 31 March 2017 |
59,657 |
|
|
|
|
|
|
|
|
|
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Other investments are measured at cost less impairment on the basis as they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably without undue costs. |
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|
4 |
Debtors |
2017 |
|
2016 |
£ |
£ |
|
|
Other debtors |
8,446 |
|
30,330 |
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Amount due to a director |
|
|
|
|
270 |
|
1,536 |
|
Corporation tax |
23,149 |
|
49,256 |
|
Other taxes and social security costs |
5,095 |
|
48,051 |
|
Other creditors |
2,894 |
|
5,860 |
|
|
|
|
|
|
31,408 |
|
104,703 |
|
|
|
|
|
|
|
|
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6 |
Other information |
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Michael Bray Associates Limited is a private company limited by shares and incorporated in England. |
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The address of the registered office and the Company's registered number are given in the company information on page 1 of these financial statements. |