Blue Ibex Limited - Period Ending 2015-10-31

Registration number: 04093697

Blue Ibex Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2015
 

Beevers & Co
Chartered Accountants
44 Chatsworth Gardens
Acton
London
W3 9LW

Blue Ibex Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Blue Ibex Limited
for the Year Ended 31 October 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 Ibex Limited for the year ended 31 October 2015 set out on pages 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Blue Ibex Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Blue Ibex Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Blue Ibex Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Blue Ibex Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Blue Ibex Limited. You consider that Blue Ibex Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Blue Ibex Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Beevers & Co
Chartered Accountants
44 Chatsworth Gardens
Acton
London
W3 9LW

10 May 2016

Page 1

Blue Ibex Limited
(Registration number: 04093697)
Abbreviated Balance Sheet at 31 October 2015

		Note			2015 £			2014 £
Fixed assets
Intangible fixed assets					3,000			4,000
Tangible fixed assets					1,001			2,125
					4,001			6,125
Current assets
Stocks					380			425
Debtors					223,007			196,335
Cash at bank and in hand					8,920			25,794
					232,307			222,554
Creditors: Amounts falling due within one year					(235,302)			(227,584)
Net current liabilities					(2,995)			(5,030)
Net assets					1,006			1,095
Capital and reserves
Called up share capital		3			999			999
Profit and loss account					7			96
Shareholders' funds					1,006			1,095

For the year ending 31 October 2015 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 10 May 2016 and signed on its behalf by:

.........................................
Mr Roderick Millar
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

Blue Ibex Limited
(Registration number: 04093697)
Abbreviated Balance Sheet at 31 October 2015
......... continued

.........................................
Mr Peter Chadwick
Chairman

.........................................
Mr Patrick Le Joncour
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

Blue Ibex Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Amortisation

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

Asset class	Amortisation method and rate
Book list rights	10% straight line method

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% straight line method
Website	25% straight line method

Research and development

Development expenditure incurred on an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amortised in line with the expected future sales from the related project.

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Page 4

Blue Ibex Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2015
......... 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

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2014		10,000			46,798			56,798
At 31 October 2015		10,000			46,798			56,798
Depreciation
At 1 November 2014		6,000			44,673			50,673
Charge for the year		1,000			1,124			2,124
At 31 October 2015		7,000			45,797			52,797
Net book value
At 31 October 2015		3,000			1,001			4,001
At 31 October 2014		4,000			2,125			6,125

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary of £1 each		999			999			999			999

Page 5