BETA_BABOON_LTD - Accounts

BETA BABOON LIMITED - Company Information

Print Friendly Version

Company Registration No. 03152144 (England and Wales)

BETA BABOON LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

BETA BABOON LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BETA BABOON LTD

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,051

Current assets

Debtors

79,413

14,190

Cash at bank and in hand

90,662

49,817

170,075

64,007

Creditors: amounts falling due within one year

(58,098)

(18,303)

Net current assets

111,977

45,704

Total assets less current liabilities

115,028

45,704

Capital and reserves

Called up share capital

Profit and loss account

115,026

45,702

Shareholders' funds

115,028

45,704

For the financial year ended 31 January 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 June 2016

Mr R J Hytner

Director

Company Registration No. 03152144

BETA BABOON LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for services net of VAT and discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

33% straight line

1.5

Revenue recognition

**Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

BETA BABOON LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 February 2015

Additions

4,575

At 31 January 2016

4,575

Depreciation

At 1 February 2015

Charge for the year

1,524

At 31 January 2016

1,524

Net book value

At 31 January 2016

3,051

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each

Related party relationships and transactions

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr R J Hytner - Loan

940