Direct Business Finance Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04213403 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2014

for

Direct Business Finance Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

S R White

SECRETARY:

S R White

REGISTERED OFFICE:

Lynnem House

1 Victoria Way

Burgess Hill

West Sussex

RH15 9NF

REGISTERED NUMBER:

04213403 (England and Wales)

ACCOUNTANTS:

Price Green & Co

Lynnem House

1 Victoria Way

Burgess Hill

West Sussex

RH15 9NF

FIXED ASSETS

Tangible assets

2

360

480

CURRENT ASSETS

Debtors

30,200

30,000

Cash at bank

43

22

30,243

30,022

CREDITORS

Amounts falling due within one year

40,971

30,514

NET CURRENT LIABILITIES

(10,728

)

(492

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,368

)

(12

)

CAPITAL AND RESERVES

Called up share capital

3

2

2

Profit and loss account

(10,370

)

(14

)

SHAREHOLDERS' FUNDS

(10,368

)

(12

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2014 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 23 February 2015 and were signed by:

S R White - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2013

and 31 May 2014

1,201

DEPRECIATION

At 1 June 2013

721

Charge for year

120

At 31 May 2014

841

NET BOOK VALUE

At 31 May 2014

360

At 31 May 2013

480

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.14

31.5.13

value:

£

£

2

Ordinary

1

2

2

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in other creditors is £39,112 (2013 - £28,559) owed to Mr S White.