Blank Canvas Venues Limited - Period Ending 2014-12-31

Registration number: 08745826

Blank Canvas Venues Limited

Annual Report and Unaudited Abbreviated Accounts


for the Period from 24 October 2013 to 31 December 2014

 

Blank Canvas Venues Limited
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 4

Blank Canvas Venues Limited
(Registration number: 08745826)
Abbreviated Balance Sheet at 31 December 2014

		Note			31 December 2014 £
Fixed assets
Tangible fixed assets					5,921
Current assets
Debtors					26,506
Cash at bank and in hand					21,250
					47,756
Creditors: Amounts falling due within one year					(34,379)
Net current assets					13,377
Total assets less current liabilities					19,298
Creditors: Amounts falling due after more than one year					(102,578)
Net liabilities					(83,280)
Capital and reserves
Called up share capital		3			100
Profit and loss account					(83,380)
Shareholders' deficit					(83,280)

For the year ending 31 December 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.

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

Blank Canvas Venues Limited
(Registration number: 08745826)
Abbreviated Balance Sheet at 31 December 2014
......... continued

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 July 2015 and signed on its behalf by:

.........................................
Mr J Nelhams
Director

.........................................
Mr T B Gjonnes
Director

.........................................
Mr P Tuck
Director

.........................................
Mr C Tuck
Director

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

Blank Canvas Venues Limited
Notes to the Abbreviated Accounts for the Period from 24 October 2013 to 31 December 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).

Going concern

The financial statements have been prepared on a going concern basis. At the period end the Company had net liabilities of £83,280 however the Directors have confirmed that they will continue to support the Company to enable it to meet its creditors as and when they fall due.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the provision of services to customers. Income is recognised when the Company earns the right to consideration, in exchange for the performance of a contract.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Office equipment	25% on cost
Software	25% on cost

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Blank Canvas Venues Limited
Notes to the Abbreviated Accounts for the Period from 24 October 2013 to 31 December 2014
......... continued

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.

2	Fixed assets

		Tangible assets £			Total £
Cost
Additions		7,642			7,642
At 31 December 2014		7,642			7,642
Depreciation
Charge for the period		1,721			1,721
At 31 December 2014		1,721			1,721
Net book value
At 31 December 2014		5,921			5,921

3	Share capital

Allotted, called up and fully paid shares

	31 December 2014
		No.			£
Ordinary shares of £1 each		100			100

New shares allotted

During the period 100 Ordinary shares having an aggregate nominal value of £100 were allotted for an aggregate consideration of £100. The shares were issued on incorporation.

Page 4