Registered Number 07217163

DRAYCOTT BROWNE LIMITED

Abbreviated Accounts

31 May 2014

DRAYCOTT BROWNE LIMITED Registered Number 07217163

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Fixed assets
Intangible assets 2 480,000 1,179,998
Tangible assets 3 6,460 19,758
486,460 1,199,756
Current assets
Debtors 704,213 1,244,841
Cash at bank and in hand 681 142
704,894 1,244,983
Creditors: amounts falling due within one year 4 (739,938) (1,513,527)
Net current assets (liabilities) (35,044) (268,544)
Total assets less current liabilities 451,416 931,212
Creditors: amounts falling due after more than one year 4 (200,000) (750,000)
Provisions for liabilities (423) (423)
Total net assets (liabilities) 250,993 180,789
Capital and reserves
Called up share capital 5 2 2
Profit and loss account 250,991 180,787
Shareholders' funds 250,993 180,789
  • For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • 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 in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 27 February 2015

And signed on their behalf by:
S D Draycott, Director

DRAYCOTT BROWNE LIMITED Registered Number 07217163

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter
Fixture and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Intangible assets amortisation policy
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Going concern
The use of the going concern basis of accounting is appropriate because there are no material uncertainties related to events or conditions that may cast significant doubts about the ability of the company to continue as a going concern.

2Intangible fixed assets
£
Cost
At 1 June 2013 1,400,000
Additions -
Disposals (586,665)
Revaluations -
Transfers -
At 31 May 2014 813,335
Amortisation
At 1 June 2013 220,002
Charge for the year 113,333
On disposals -
At 31 May 2014 333,335
Net book values
At 31 May 2014 480,000
At 31 May 2013 1,179,998
3Tangible fixed assets
£
Cost
At 1 June 2013 129,130
Additions -
Disposals (10,019)
Revaluations -
Transfers -
At 31 May 2014 119,111
Depreciation
At 1 June 2013 109,372
Charge for the year 3,279
On disposals -
At 31 May 2014 112,651
Net book values
At 31 May 2014 6,460
At 31 May 2013 19,758
4Creditors
2014
£
2013
£
Secured Debts 379,673 581,536
5Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
2 Ordinary shares of £1 each 2 2