Company Registration No. 04339959 (England and Wales)
BALTIMORE INNOVATIONS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
BALTIMORE INNOVATIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BALTIMORE INNOVATIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
-
25,916
Tangible assets
2
24,222
14,824
24,222
40,740
Current assets
Stocks
460,808
370,273
Debtors
339,822
306,241
Cash at bank and in hand
116,129
238,250
916,759
914,764
Creditors: amounts falling due within one year
(428,941)
(495,517)
Net current assets
487,818
419,247
Total assets less current liabilities
512,040
459,987
Capital and reserves
Called up share capital
3
5,000
5,000
Profit and loss account
507,040
454,987
Shareholders' funds
512,040
459,987
For the financial year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 5 May 2015
W E Valentine
Director
Company Registration No. 04339959
BALTIMORE INNOVATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
33% straight line
Fixtures, fittings & equipment
33% straight line
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
BALTIMORE INNOVATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2014
276,433
94,535
370,968
Additions
-
22,460
22,460
At 31 March 2015
276,433
116,995
393,428
Depreciation
At 1 April 2014
250,517
79,711
330,228
Charge for the year
25,916
13,062
38,978
At 31 March 2015
276,433
92,773
369,206
Net book value
At 31 March 2015
-
24,222
24,222
At 31 March 2014
25,916
14,824
40,740
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4,500 A Ordinary shares of £1 each
4,500
4,500
500 B Ordinary shares of £1 each
500
500
5,000
5,000
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