Abbreviated Company Accounts - RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED

Abbreviated Company Accounts - RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED


Registered Number 08635031

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED

Abbreviated Accounts

31 August 2014

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED Registered Number 08635031

Abbreviated Balance Sheet as at 31 August 2014

Notes 2014
£
Fixed assets
Tangible assets 2 8,288
8,288
Current assets
Debtors 33,657
Cash at bank and in hand 11,746
45,403
Creditors: amounts falling due within one year (70,587)
Net current assets (liabilities) (25,184)
Total assets less current liabilities (16,896)
Creditors: amounts falling due after more than one year (235,792)
Total net assets (liabilities) (252,688)
Capital and reserves
Called up share capital 3 26
Profit and loss account (252,714)
Shareholders' funds (252,688)
  • 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.
  • 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 July 2015

And signed on their behalf by:
K R Cottam, Director

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED Registered Number 08635031

Notes to the Abbreviated Accounts for the period ended 31 August 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 the value, net of value added tax and discounts, of work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance

Other accounting policies
Going concern
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company financially for the foreseeable future.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets
£
Cost
Additions 11,051
Disposals -
Revaluations -
Transfers -
At 31 August 2014 11,051
Depreciation
Charge for the year 2,763
On disposals -
At 31 August 2014 2,763
Net book values
At 31 August 2014 8,288
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
26 Ordinary shares of £1 each 26