Change Board Holdings Limited - Abbreviated accounts 16.1
Change Board Holdings Limited - Abbreviated accounts 16.1
CHANGE BOARD HOLDINGS LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED |
30 APRIL 2016 |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
Page |
Company Information | 1 |
Abbreviated Balance Sheet | 2 |
Notes to the Abbreviated Accounts | 4 |
CHANGE BOARD HOLDINGS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2016 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
ABBREVIATED BALANCE SHEET |
30 APRIL 2016 |
2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
Investments | 3 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 4 |
Profit and loss account |
SHAREHOLDERS' FUNDS |
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. |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
ABBREVIATED BALANCE SHEET - continued |
30 APRIL 2016 |
The financial statements were approved by the Board of Directors on |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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 January 2015). |
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 |
Website and technology | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
1. | ACCOUNTING POLICIES - continued |
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. |
CHANGE BOARD HOLDINGS LIMITED (REGISTERED NUMBER: 05116525) |
NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 May 2015 |
Additions |
At 30 April 2016 |
DEPRECIATION |
At 1 May 2015 |
Charge for year |
At 30 April 2016 |
NET BOOK VALUE |
At 30 April 2016 |
At 30 April 2015 |
3. | FIXED ASSET INVESTMENTS |
Investments |
other |
than |
loans |
£ |
COST |
At 1 May 2015 |
and 30 April 2016 | 100 |
NET BOOK VALUE |
At 30 April 2016 |
At 30 April 2015 |
4. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
Ordinary | £1 |