Baobab Capital Limited - Period Ending 2014-08-31

Registration number: 08660146

Baobab Capital Limited

Unaudited Abbreviated Accounts

for the Period from 22 August 2013 to 31 August 2014

 

AIMS Accountants for Business
18 Kinnoul Road
Fulham
London
W6 8NQ

Baobab Capital Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Baobab Capital Limited
for the Period Ended 31 August 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Baobab Capital Limited for the period ended 31 August 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Baobab Capital Limited, as a body, in accordance with the terms of our engagement letterdated 22 April 2014. Our work has been undertaken solely to prepare for your approval the accounts of Baobab Capital Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baobab Capital Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Baobab Capital Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Baobab Capital Limited. You consider that Baobab Capital Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Baobab Capital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

AIMS Accountants for Business
18 Kinnoul Road
Fulham
London
W6 8NQ

22 April 2015

Page 1

Baobab Capital Limited
(Registration number: 08660146)
Abbreviated Balance Sheet at 31 August 2014

		Note			31 August 2014 £
Fixed assets
Tangible fixed assets					13,285
Current assets
Cash at bank and in hand					89,567
Creditors: Amounts falling due within one year					(28,496)
Net current assets					61,071
Net assets					74,356
Capital and reserves
Called up share capital		3			10
Profit and loss account					74,346
Shareholders' funds					74,356

For the year ending 31 August 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.

For the period ending 31 August 2014 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The director acknowledges his 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 director on 22 April 2015

.........................................
Mr R Py
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Baobab Capital Limited
Notes to the Abbreviated Accounts for the Period from 22 August 2013 to 31 August 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided so as to write off assets, less their residual value, over their useful lives

Asset class	Depreciation method and rate
Office equipment	25% straight line
Fixtures and fittings	10% straight line

Deferred tax

Deferred tax is provided on material timing differences that are expected to reverse

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

Baobab Capital Limited
Notes to the Abbreviated Accounts for the Period from 22 August 2013 to 31 August 2014
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		16,709			16,709
At 31 August 2014		16,709			16,709
Depreciation
Charge for the period		3,424			3,424
At 31 August 2014		3,424			3,424
Net book value
At 31 August 2014		13,285			13,285

3	Share capital

Allotted, called up and fully paid shares

	31 August 2014
		No.			£
Ordinary of £1 each		10			10

4	Related party transactions

Director's advances and credits

	22 August 2013 to 31 August 2014 Advance/ Credit £	22 August 2013 to 31 August 2014 Repaid £
Mr R Py
Dividend	30,000	-

Page 4