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2016-03-31
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iso4217:GBP
| Booths Garden Studios Limited |
For the year ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07197460
2
| Abbreviated Balance Sheet |
Booths Garden Studios Limited
2016
2015
2
24,000
36,000
3
9,495
12,550
33,495
48,550
220,450
271,000
43,122
38,152
113,992
43,900
423,144
307,472
| Creditors: amounts falling due within one year |
(281,232)
(281,523)
26,240
141,621
Net current assets
| Total assets less current liabilities |
175,116
74,790
| Creditors: amounts falling due after more than one year |
(44,482)
(74,754)
(1,899)
(2,510)
| Provisions for liabilities |
98,463
Net assets
27,798
100
4
100
98,363
27,698
98,463
27,798
Shareholders funds
| For the 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: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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. |
| Date approved by the board: 19 December 2016 |
| Signed on behalf of the board of directors |
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3
| Notes to the Abbreviated Financial Statements |
Booths Garden Studios Limited
For the year ended 31 March 2016
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Research and development expenditure |
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the |
| shareholders prior to the balance sheet date. |
| Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
| Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated |
| expected useful economic life of the goodwill of 5 years. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
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4
| Notes to the Abbreviated Financial Statements |
Booths Garden Studios Limited
For the year ended 31 March 2016
Computer Equipment
Motor Vehicles
Fixtures and Fittings
| 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 costs and an appropriate proportion of fixed and variable overheads. |
| 2 Intangible fixed assets |
60,000
60,000
24,000
12,000
Charge for year
36,000
24,000
36,000
Goodwill relates to the purchase of the business Booths Garden Studios on 1 April 2012.
23,091
23,091
10,541
3,055
Charge for year
13,596
9,495
12,550
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5
| Notes to the Abbreviated Financial Statements |
Booths Garden Studios Limited
For the year ended 31 March 2016
| Allotted called up and fully paid |
2016
2015
| 100 Ordinary shares of £1.00 each |
100
100
100
100
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