Initio Star Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 04396632 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 31st March 2016

for

Initio Star Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

G Lowrey

REGISTERED OFFICE:

2 /4 Ash Lane

Rustington

West Sussex

BN16 3BZ

REGISTERED NUMBER:

04396632 (England and Wales)

ACCOUNTANTS:

Lucraft, Hodgson & Dawes LLP

Chartered Accountants

2/4 Ash Lane

Rustington

West Sussex

BN16 3BZ

FIXED ASSETS

Tangible assets

2

535

718

Investments

3

107,123

107,658

107,841

CURRENT ASSETS

Cash at bank

38,212

3,433

CREDITORS

Amounts falling due within one year

12,174

36,427

NET CURRENT ASSETS/(LIABILITIES)

26,038

(32,994

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

133,696

74,847

PROVISIONS FOR LIABILITIES

107

144

NET ASSETS

133,589

74,703

CAPITAL AND RESERVES

Called up share capital

4

71,322

Profit and loss account

62,267

3,381

SHAREHOLDERS' FUNDS

133,589

74,703

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394
and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 31st May 2016 and were signed by:

G Lowrey - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 amounts receivable for consultancy services provided in the normal course of business, net of

trade discounts, VAT and other sales related taxes. Turnover is recognised as earned.

Turnover is recognised as earned when, and to the extent that, the company obtains the right to consideration in

exchange for performance of contracted services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Current taxation is provided for at amounts expected to be paid (or recovered) using the tax rates and laws that have

been enacted or substantively enacted by the balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date. A deferred tax asset is only recognised when it is more likely than not that the asset will be recoverable

in the foreseeable future out of suitable taxable profits from which the underlying timing differences can be deducted.

Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and

loss account over the expected useful lives of the assets concerned. Other grants are credited to the profit and loss

account as the related expenditure is incurred.

.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st April 2015

and 31st March 2016

5,941

DEPRECIATION

At 1st April 2015

5,223

Charge for year

183

At 31st March 2016

5,406

NET BOOK VALUE

At 31st March 2016

535

At 31st March 2015

718

3.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st April 2015

and 31st March 2016

107,123

NET BOOK VALUE

At 31st March 2016

107,123

At 31st March 2015

107,123

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

71,322