Change Board Holdings Limited - Limited company - abbreviated - 11.9

CHANGE BOARD HOLDINGS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

30 APRIL 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

P Keene

J Birtwell

REGISTERED OFFICE:

20c Hillgate Place

Balham Hill

London

SW12 9ER

REGISTERED NUMBER:

05116525 (England and Wales)

ACCOUNTANTS:

AEL Markhams Ltd

Chartered Accountants

201 Haverstock Hill

London

NW3 4QG

FIXED ASSETS

Tangible assets

2

186,805

19,923

Investments

3

100

100

186,905

20,023

CURRENT ASSETS

Debtors

236,391

206,026

Cash at bank

4,326

1,361

240,717

207,387

CREDITORS

Amounts falling due within one year

185,238

156,747

NET CURRENT ASSETS

55,479

50,640

TOTAL ASSETS LESS CURRENT LIABILITIES

242,384

70,663

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

242,284

70,563

SHAREHOLDERS' FUNDS

242,384

70,663

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 12 January 2016 and were signed on its behalf by:

P Keene - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts are prepared in accordance with applicable United Kingdom Accounting Standards (United

Kingdom Generally Accepted Accounting Practice), which have been consistently applied (except as otherwise

stated).

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).

Going concern

The directors have formed the judgement, at the time of approving the financial statements, that the Company

has sufficient access to financial resources which, together with internally generated cash flows, will continue to

provide sufficient sources of liquidity to fund its current operations including its contractual and commercial

commitments.

For this reason, the directors continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, is considered to consist of one

class of business, internet recruitment services.

Revenue from the provision of internet recruitment services is recognised as vacancies are published on the

website. Where revenue exceeds amounts invoiced, the excess is classified as accrued income and included in

prepayments and accrued income within debtors. Where amounts invoiced exceed revenue, the excess is

classified as deferred income and included in accruals and deferred income within creditors.

Revenue on long-term contracts is deemed as that proportion of the total expected income to which the cost of

sales incurred to date bears to the total expected cost of sales if the final outcome can be assessed with

reasonable certainty. Full provision is made for losses on all contracts in the year in which they are foreseen.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Tangible fixed assets are assessed annually for any indications of impairment between the carrying and net

realisable values on the basis that the assets are to be sold in the normal course of business.

Taxation

The tax expense represents the sum of the tax currently payable and the deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before

taxation as reported in the profit and loss account because it excludes items of income and expense that are

taxable or deductible in other years and it further excludes items which are never taxable or deductible. The

Company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted

by the balance sheet date.

Deferred tax is the tax expected to be payable or recoverable on differences between the carrying amounts of

assets and liabilities in the financial statements and the corresponding tax bases used in the computation of

taxable profit. This is accounted for using the balance sheet liability method. Deferred tax liabilities are

generally recognised for all taxable temporary differences and deferred tax assets are recognised to the extent

that it is probable that taxable profits will be available against which deductible temporary differences can be

utilised. Such assets and liabilities are not recognised if the temporary difference arises from goodwill or from

the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the

accounting profit.

Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or

the asset realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to

items charged or credited directly to reserves, in which case the deferred tax is also dealt with in reserves.

Research and development

Development spend on the launch of new products or services is expensed to the profit and loss account as

incurred. The cost of developing website software may be capitalised and written off over its estimated useful

life if it meets the necessary criteria.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs

The company operates a defined contribution pension scheme. Contributions to the scheme are charged to the

profit and loss account as they become payable in accordance with the rules of the scheme.

There were no outstanding amounts at the year end.

Fixed asset investment

Investments are held at cost less any diminution for permanent impairment.

Trade debtors

Trade debtors are recognised and carried at original invoice amount less an allowance for any non-collectable

amounts. An estimate for doubtful debts is made when collection of the full amount is no longer probable. Bad

debts are written off when identified.

Trade creditors

Trade creditors are recognised and carried at original invoice amount.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2014

139,877

Additions

191,146

At 30 April 2015

331,023

DEPRECIATION

At 1 May 2014

119,954

Charge for year

24,264

At 30 April 2015

144,218

NET BOOK VALUE

At 30 April 2015

186,805

At 30 April 2014

19,923

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 May 2014

and 30 April 2015

100

NET BOOK VALUE

At 30 April 2015

100

At 30 April 2014

100

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

£

100

Ordinary

£1

100

100