| Blue Banana (on-line) Limited |
| Registered number: |
05165582 |
| Directors' Report |
|
| The directors present their report and accounts for the year ended 30 June 2015. |
|
| Principal activities |
| The company's principal activity during the year continued to be the retail of women's clothing and accessories via the internet. |
|
| Directors |
| The following persons served as directors during the year: |
|
|
Zoe E Procommenos |
|
| Political and charitable donations |
| During the year, the company made no political contributions nor charitable donations. |
|
| Directors' responsibilities |
| The directors are responsible for preparing the report and accounts in accordance with applicable law and regulations. |
|
| Company law requires the directors to prepare accounts for each financial year. Under that law the directors have elected to prepare the accounts in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the accounts unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these accounts, the directors are required to: |
| ● |
select suitable accounting policies and then apply them consistently; |
| ● |
make judgements and estimates that are reasonable and prudent; |
| ● |
prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
|
| The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
|
| Small company provisions |
| This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
| This report was approved by the board on 29 March 2016 and signed on its behalf. |
|
|
|
|
|
| Zoe Procommenos |
| Director |
|
| Blue Banana (on-line) Limited |
| Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Blue Banana (on-line) Limited for the year ended 30 June 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Blue Banana (on-line) Limited for the year ended 30 June 2015 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| Our work has been undertaken in accordance with AAF 2/10 as detailed at icaew.com/compilation. |
|
| Turner Burke Limited |
| Chartered Accountants |
| Suite 4, Third Floor, Roxby House |
| 20-22 Station Road |
| Sidcup |
| Kent |
| DA15 7EJ |
|
| 29 March 2016 |
|
| Blue Banana (on-line) Limited |
| Balance Sheet |
| as at 30 June 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
4 |
|
|
3,407 |
|
|
7,335 |
|
| Current assets |
| Stocks |
|
|
476,675 |
|
|
485,590 |
| Debtors |
5 |
|
7,398 |
|
|
20,037 |
| Cash at bank and in hand |
|
|
83,367 |
|
|
269,620 |
|
|
|
567,440 |
|
|
775,247 |
|
| Creditors: amounts falling due within one year |
6 |
|
(98,235) |
|
|
(306,170) |
|
| Net current assets |
|
|
|
469,205 |
|
|
469,077 |
|
| Total assets less current liabilities |
|
|
|
472,612 |
|
|
476,412 |
|
|
| Provisions for liabilities |
7 |
|
|
- |
|
|
(213) |
|
|
| Net assets |
|
|
|
472,612 |
|
|
476,199 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
8 |
|
|
200 |
|
|
200 |
| Profit and loss account |
9 |
|
|
472,412 |
|
|
475,999 |
|
| Shareholders' funds |
|
|
|
472,612 |
|
|
476,199 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
|
| Zoe Procommenos |
| Director |
| Approved by the board on 29 March 2016 |
|
| Blue Banana (on-line) Limited |
| Notes to the Accounts |
| for the year ended 30 June 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
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 |
|
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Motor vehicles - van |
20% straight line |
|
Computer equipment |
25% straight line |
|
Office equipment |
25% straight line |
|
Furniture and racking |
20% straight line |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. |
|
|
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. |
|
|
Foreign currencies |
|
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. |
|
|
|
| 2 |
Operating profit |
2015 |
|
2014 |
| £ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
5,231 |
|
6,874 |
|
Directors' remuneration |
8,400 |
|
8,450 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Taxation |
2015 |
|
2014 |
| £ |
£ |
|
|
UK corporation tax |
4,877 |
|
25,390 |
|
UK corporation tax - prior year adjustment |
- |
|
- |
|
Deferred tax |
(785) |
|
(655) |
|
|
|
|
|
|
4,092 |
|
24,735 |
|
|
|
|
|
|
|
|
|
|
| 4 |
Tangible fixed assets |
|
|
Office equipment, furniture and racking |
|
Computer equipment |
|
Motor vehicles - van |
|
Total |
| £ |
£ |
£ |
£ |
|
Cost |
|
At 1 July 2014 |
17,437 |
|
12,801 |
|
16,250 |
|
46,488 |
|
Additions |
1,303 |
|
- |
|
- |
|
1,303 |
|
Disposals |
- |
|
(1,429) |
|
- |
|
(1,429) |
|
At 30 June 2015 |
18,740 |
|
11,372 |
|
16,250 |
|
46,362 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 July 2014 |
14,271 |
|
11,340 |
|
13,542 |
|
39,153 |
|
Charge for the year |
1,352 |
|
1,171 |
|
2,708 |
|
5,231 |
|
On disposals |
- |
|
(1,429) |
|
- |
|
(1,429) |
|
At 30 June 2015 |
15,623 |
|
11,082 |
|
16,250 |
|
42,955 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 June 2015 |
3,117 |
|
290 |
|
- |
|
3,407 |
|
At 30 June 2014 |
3,166 |
|
1,461 |
|
2,708 |
|
7,335 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Debtors |
2015 |
|
2014 |
| £ |
£ |
|
|
Trade debtors |
6,726 |
|
18,310 |
|
Other debtors |
100 |
|
1,727 |
|
|
|
|
|
|
7,398 |
|
20,037 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2015 |
|
2014 |
| £ |
£ |
|
|
Trade creditors |
8,779 |
|
12,658 |
|
Corporation tax |
4,877 |
|
25,054 |
|
Other taxes and social security costs |
10,983 |
|
9,062 |
|
Other creditors |
73,596 |
|
259,396 |
|
|
|
|
|
|
98,235 |
|
306,170 |
|
|
| 7 |
Provisions for liabilities |
2015 |
|
2014 |
|
Deferred taxation: |
£ |
£ |
|
|
Accelerated capital allowances |
(572) |
|
213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2015 |
|
2014 |
| £ |
£ |
|
|
At 1 July |
213 |
|
868 |
|
Deferred tax charge in profit and loss account |
(785) |
|
(655) |
|
|
At 30 June |
(572) |
|
213 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
B Ordinary shares |
£1 each |
|
100 |
|
100 |
|
100 |
|
|
|
|
|
|
200 |
|
200 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Profit and loss account |
2015 |
|
2014 |
| £ |
£ |
|
|
At 1 July 2014 |
475,999 |
|
393,055 |
|
Profit for the year |
15,413 |
|
98,944 |
|
Dividends |
(19,000) |
|
(16,000) |
|
|
At 30 June 2015 |
472,412 |
|
475,999 |
|
|
|
|
|
|
|
|
|
|
| 10 |
Dividends |
2015 |
|
2014 |
| £ |
£ |
|
|
Dividends for which the company became liable during the year: |
|
Dividends paid |
19,000 |
|
16,000 |
|
|
|
|
|
|
|
|
|
|
|
| 11 |
Related party transactions |
2015 |
|
2014 |
| £ |
£ |
|
Zoe E Procommenos |
|
Director / shareholder |
|
Fund company activities |
|
Amount due from (to) the related party |
(16,069) |
|
(7,742) |
|
David Burke |
|
Related party / secretary |
|
Fund company activities |
|
Amount due from (to) the related party |
(50,281) |
|
(210,193) |
|
|
| 12 |
Ultimate controlling party |
|
|
Z E Procommenos controls the company by virtue of her ownership of all the voting shares. |
