Abbreviated Company Accounts - BUY IT BETTER LIMITED

BUY IT BETTER LIMITED - Company Information

05962745 BUY IT BETTER LIMITED 2015-12-31 false 2015-01-01 2015-12-31 true 05962745 2015-01-01 2015-12-31 05962745 2015-12-31 05962745 2014-12-31 05962745 uk-gaap-cd-bus:Director1 2015-01-01 2015-12-31 05962745 uk-gaap-cd-bus:Director2 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-01-01 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-12-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-12-31 iso4217:GBP shares

Registered Number 05962745

BUY IT BETTER LIMITED

Abbreviated Accounts

31 December 2015

BUY IT BETTER LIMITED Registered Number 05962745

Abbreviated Balance Sheet as at 31 December 2015

	Notes	2015	2014
		£	£
Fixed assets
Tangible assets	2	53,218	38,168
		53,218	38,168
Current assets
Stocks		75,000	72,000
Debtors		9,241	5,554
Cash at bank and in hand		2,246	12,473
		86,487	90,027
Creditors: amounts falling due within one year	3	(50,429)	(39,790)
Net current assets (liabilities)		36,058	50,237
Total assets less current liabilities		89,276	88,405
Creditors: amounts falling due after more than one year	3	(86,647)	(85,852)
Total net assets (liabilities)		2,629	2,553
Capital and reserves
Called up share capital	4	1,000	1,000
Profit and loss account		1,629	1,553
Shareholders' funds		2,629	2,553

For the year ending 31 December 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 28 September 2016

And signed on their behalf by:
D M Evans, Director

BUY IT BETTER LIMITED Registered Number 05962745

Notes to the Abbreviated Accounts for the period ended 31 December 2015

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2016

Turnover policy
Represents the net value of goods sold and services supplied, excluding Value Added Tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads

Other accounting policies
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 leased are depreciated over their eastiated 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 future paymetnts is treated as liability.

2Tangible fixed assets

	£
Cost
At 1 January 2015	62,363
Additions	39,706
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2015	102,069
Depreciation
At 1 January 2015	24,195
Charge for the year	24,656
On disposals	-
At 31 December 2015	48,851
Net book values
At 31 December 2015	53,218
At 31 December 2014	38,168

3Creditors

	2015 £	2014 £
Secured Debts	1,044	4,175

4Called Up Share Capital
Allotted, called up and fully paid:

	2015 £	2014 £
1,000 Ordinary shares of £1 each	1,000	1,000