Super Being Labs Ltd - Abbreviated accounts

Super Being Labs Ltd - Abbreviated accounts


Registered number
08423298
Super Being Labs Ltd
Unaudited Abbreviated Accounts
29 February 2016
Super Being Labs Ltd
Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Super Being Labs Ltd for the year ended 29 February 2016
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Super Being Labs Ltd for the year ended 29 February 2016 which comprise of 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.
This report is made solely to the Board of Directors of Super Being Labs Ltd, as a body, in accordance with the terms of our engagement letter dated 3 February 2015. Our work has been undertaken solely to prepare for your approval the accounts of Super Being Labs Ltd and state those matters that we have agreed to state to the Board of Directors of Super Being Labs Ltd, 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 Super Being Labs Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Super Being Labs Ltd 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 Super Being Labs Ltd. You consider that Super Being Labs Ltd 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 Super Being Labs Ltd. 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 abbreviated accounts.
Paul Robson
Chartered Accountant & Tax Consultant
40 Mandeville Way
Benfleet
Essex
SS7 4LH
23 June 2016
Super Being Labs Ltd
Registered number: 08423298
Abbreviated Balance Sheet
as at 29 February 2016
Notes 2016 2015
£ £
Fixed assets
Intangible assets 2 10,937 14,687
Tangible assets 3 6,401 4,524
Investments 4 1 -
17,339 19,211
Current assets
Debtors 91,703 4,434
Cash at bank and in hand 40,403 7,068
132,106 11,502
Creditors: amounts falling due within one year (100,294) (29,801)
Net current assets/(liabilities) 31,812 (18,299)
Total assets less current liabilities 49,151 912
Provisions for liabilities (1,280) (905)
Net assets 47,871 7
Capital and reserves
Called up share capital 5 1 1
Profit and loss account 47,870 6
Shareholder's funds 47,871 7
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
D B Sanghrajka
Director
Approved by the board on 23 June 2016
Super Being Labs Ltd
Notes to the Abbreviated Accounts
for the year ended 29 February 2016
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 January 2015).
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.
Computer equipment 33% straight line
Fixtures & fittings 25% straight line
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.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.
2 Intangible fixed assets £
Cost
At 1 March 2015 15,000
At 29 February 2016 15,000
Amortisation
At 1 March 2015 313
Provided during the year 3,750
At 29 February 2016 4,063
Net book value
At 29 February 2016 10,937
At 28 February 2015 14,687
3 Tangible fixed assets £
Cost
At 1 March 2015 4,757
Additions 5,070
At 29 February 2016 9,827
Depreciation
At 1 March 2015 233
Charge for the year 3,193
At 29 February 2016 3,426
Net book value
At 29 February 2016 6,401
At 28 February 2015 4,524
4 Investments £
Cost
Additions 1
At 29 February 2016 1
The company holds 20% or more of the share capital of the following companies:
Capital and Profit (loss)
Company Shares held reserves for the year
Class % £ £
Being Humankind Ltd Ordinary 50 2 -
5 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £0.01 each 100 1 1
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