Balloons By Up Up and Away Limited - Abbreviated accounts 16.1

Balloons By Up Up and Away Limited - Abbreviated accounts 16.1

BALLOONS BY UP UP AND AWAY LIMITED - Company Information

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REGISTERED NUMBER: 04179701 (England and Wales)


















Abbreviated Unaudited Accounts

for the Year Ended 30 September 2015

for

Balloons By Up Up and Away Limited

Balloons By Up Up and Away Limited (Registered number: 04179701)






Contents of the Abbreviated Accounts
for the Year Ended 30 September 2015




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Balloons By Up Up and Away Limited

Company Information
for the Year Ended 30 September 2015







DIRECTOR: G.P. Watts





SECRETARY: L.E. Watts





REGISTERED OFFICE: Suite 3 Warren House
10-20 Main Road
Hockley
Essex
SS5 4QS





REGISTERED NUMBER: 04179701 (England and Wales)





ACCOUNTANTS: Anser Solutions!
Chartered Accountants
Suite 3 Warren House
10-20 Main Road
Hockley
Essex
SS5 4QS
Page 1
Balloons By Up Up and Away Limited (Registered number: 04179701)

Abbreviated Balance Sheet
30 September 2015

30.9.15 30.9.14
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - -
Tangible assets 3 85,089 91,151
85,089 91,151

CURRENT ASSETS
Stocks 547,326 596,016
Debtors 139,471 107,022
Cash at bank and in hand 9,463 25,156
696,260 728,194
CREDITORS
Amounts falling due within one year 568,401 610,716
NET CURRENT ASSETS 127,859 117,478
TOTAL ASSETS LESS CURRENT
LIABILITIES
212,948
208,629

CREDITORS
Amounts falling due after more than one
year
(120,000
)
(120,944
)

PROVISIONS FOR LIABILITIES (14,290 ) (14,903 )
NET ASSETS 78,658 72,782

CAPITAL AND RESERVES
Called up share capital 4 100 100
Profit and loss account 78,558 72,682
SHAREHOLDERS' FUNDS 78,658 72,782

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

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

The director acknowledges his 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 notes form part of these abbreviated accounts

Page 2 continued...
Balloons By Up Up and Away Limited (Registered number: 04179701)

Abbreviated Balance Sheet - continued
30 September 2015


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 director on 30 June 2016 and were signed by:





G.P. Watts - Director


The notes form part of these abbreviated accounts

Page 3
Balloons By Up Up and Away Limited (Registered number: 04179701)

Notes to the Abbreviated Accounts
for the Year Ended 30 September 2015

1. ACCOUNTING POLICIES

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).

Turnover
Turnover represents net sales of goods sold, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held
under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases
are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The
capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Page 4 continued...
Balloons By Up Up and Away Limited (Registered number: 04179701)

Notes to the Abbreviated Accounts - continued
for the Year Ended 30 September 2015

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2014
and 30 September 2015 350,000
AMORTISATION
At 1 October 2014
and 30 September 2015 350,000
NET BOOK VALUE

At 30 September 2015 -
At 30 September 2014 -

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 October 2014 294,274
Additions 18,922
At 30 September 2015 313,196
DEPRECIATION
At 1 October 2014 203,123
Charge for year 24,984
At 30 September 2015 228,107
NET BOOK VALUE
At 30 September 2015 85,089
At 30 September 2014 91,151

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.15 30.9.14
value: £    £   
100 Ordinary £1 100 100

Page 5