REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2020 |
|
for |
|
Steven Brown Financial Services Limited |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unaudited Financial Statements |
|
for the Year Ended 31 March 2020 |
|
for |
|
Steven Brown Financial Services Limited |
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Contents of the Financial Statements |
for the Year Ended 31 March 2020 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 4 |
|
Chartered Certified Accountant's Report | 8 |
Steven Brown Financial Services Limited |
|
Company Information |
for the Year Ended 31 March 2020 |
|
|
|
|
|
|
|
DIRECTOR: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANT: |
|
Kelyn |
Old Hill |
Helston |
Cornwall |
TR13 8HT |
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Statement of Financial Position |
31 March 2020 |
|
2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
Investments | 5 |
|
|
|
|
|
CURRENT ASSETS |
Debtors | 6 |
|
|
Cash at bank |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
|
( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Statement of Financial Position - continued |
31 March 2020 |
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the director and authorised for issue on
|
|
|
|
|
|
|
|
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Notes to the Financial Statements |
for the Year Ended 31 March 2020 |
|
|
1. | STATUTORY INFORMATION |
|
Steven Brown Financial Services Limited is a
|
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
In the post year end period the global economy is being adversely affected by the Covid 19 pandemic. The imposed lockdown restrictions have had a negative impact across a wide variety of sectors. At present it is a challenge to work efficiently within Financial Services due to social distancing measures severely limiting client interaction and visits. |
|
The Director has reasonable expectations that the company will be able to return to normalised working practices once travel and social distancing restrictions are sufficiently eased. The Director accessed the Coronavirus Job Retention Scheme for a short period during initial lockdown periods. |
|
The Director believes the adoption of the going concern basis of accounting is still appropriate in preparing the financial statements. |
|
Turnover and revenue recognition |
Turnover represents net ongoing charges for referral services. The supply of financial services advice is exempt from Value Added Tax. |
|
Revenue is recognised as and when agreed with the Authorised Representatives that the company, as an approved advisor, undertakes recurring advisor work on behalf. Settlements are normally agreed on a monthly basis. |
|
Tangible fixed assets |
|
Plant and machinery | - |
|
Motor vehicles | - |
|
Computer equipment | - |
|
|
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
|
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current or deferred taxation assets and liabilities are not discounted. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
|
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
|
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
|
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
|
4. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2019 |
and 31 March 2020 |
|
|
|
|
DEPRECIATION |
At 1 April 2019 |
|
|
|
|
Charge for year |
|
|
|
|
At 31 March 2020 |
|
|
|
|
NET BOOK VALUE |
At 31 March 2020 |
|
|
|
|
At 31 March 2019 |
|
|
|
|
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2019 |
|
Impairments | ( |
) |
At 31 March 2020 |
|
NET BOOK VALUE |
At 31 March 2020 |
|
At 31 March 2019 |
|
|
The company's investments at the Statement of Financial Position date in the share capital of companies include the following: |
|
|
Registered office: 13 St Carantoc Way, Newquay, Cornwall UK TR8 5SB |
Nature of business:
|
% |
Class of shares: | holding |
|
|
|
The subsidiary was dissolved on 10 March 2020. |
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Directors' current accounts | 7,762 | 8,116 |
|
An overdrawn Directors Loan Account is repayable on demand. |
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Tax |
|
|
Social security and other taxes |
|
|
Accrued expenses |
|
|
|
|
Steven Brown Financial Services Limited (Registered number: 09233173) |
|
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2020 |
|
|
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to a director subsisted during the years ended 31 March 2020 and 31 March 2019: |
|
2020 | 2019 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
|
At the balance sheet date the director, Mr Brown, owed £7,762 to the company. This was the balance on the director's current account and is disclosed within other debtors. |
|
The company made advances totalling £52,620 to the director during the year. The director repaid a total of £52,974 during the year, including dividends and salary credited to the account. |
|
The main conditions regarding advances and credits were that sums were to be repaid to the company as soon as possible. Overdrawn balances exceeding £10,000 will incur interest at the official rate of interest. The official rate of interest applied was 2.50% throughout the year. No interest was charged. |
|
9. | ULTIMATE CONTROLLING PARTY |
|
The controlling party is S J Brown. |
Chartered Certified Accountant's Report to the Director |
on the Unaudited Financial Statements of |
Steven Brown Financial Services Limited |
|
|
The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
|
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the financial statements of Steven Brown Financial Services Limited for the year ended 31 March 2020 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given me. |
|
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
|
This report is made solely to the director of Steven Brown Financial Services Limited in accordance with my terms of engagement. My work has been undertaken solely to prepare for your approval the financial statements of Steven Brown Financial Services Limited and state those matters that I have agreed to state to the director of Steven Brown Financial Services Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and its director for my work or for this report. |
|
It is your duty to ensure that Steven Brown Financial Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Steven Brown Financial Services Limited. You consider that Steven Brown Financial Services Limited is exempt from the statutory audit requirement for the year. |
|
I have not been instructed to carry out an audit or a review of the financial statements of Steven Brown Financial Services Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements. |
|
|
|
|
|
|
|
Kelyn |
Old Hill |
Helston |
Cornwall |
TR13 8HT |
|
|
|