Company Registration No. 02189554 (England and Wales)
BETTER BUSINESS MANAGEMENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
BETTER BUSINESS MANAGEMENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BETTER BUSINESS MANAGEMENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
105,907
120,272
Current assets
Stocks
43,666
38,756
Debtors
45,325
44,971
Cash at bank and in hand
19,218
18,378
108,209
102,105
Creditors: amounts falling due within one year
(221,209)
(200,272)
Net current liabilities
(113,000)
(98,167)
Total assets less current liabilities
(7,093)
22,105
Creditors: amounts falling due after more than one year
3
(28,180)
(33,782)
Provisions for liabilities
(460)
(714)
(35,733)
(12,391)
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
(35,833)
(12,491)
Shareholders' funds
(35,733)
(12,391)
For the financial year ended 31 March 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 and authorised for issue on 13 December 2016
D R C Johnson
Director
Company Registration No. 02189554
BETTER BUSINESS MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
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). The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because the Director s who are owed £ 160,371 at 31 March 2016 ha ve agreed to support the company for the foreseeable future. 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).
The accounts are prepared on a going concern basis, the use of the going concern basis of accounting is appropriate because the Directors who are owed £160,371 at 31 March 2016 have agreed to support the company for the foreseeable future.
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 goods and services net of VAT and trade 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:
Plant and machinery
10% Straight line
Equipment
20% Straight line / 10% Straight line
Motor vehicles
25% Reducing balance
1.5
Deferred taxation Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
129,346
Depreciation
At 1 April 2015
9,074
Charge for the year
14,365
At 31 March 2016
23,439
Net book value
At 31 March 2016
105,907
At 31 March 2015
120,272
BETTER BUSINESS MANAGEMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £33,980 (2015 - £39,782).
The bank loan is secured by a fixed and floating charge over the assets of the company.
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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