Abbreviated Company Accounts - RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED

Abbreviated Company Accounts - RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED - Company Information

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Registered Number 08635031

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED

Abbreviated Accounts

28 February 2016

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED Registered Number 08635031

Abbreviated Balance Sheet as at 28 February 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 15,763 7,241
15,763 7,241
Current assets
Debtors 72,414 40,779
Cash at bank and in hand 13,254 53,308
85,668 94,087
Creditors: amounts falling due within one year (111,066) (119,582)
Net current assets (liabilities) (25,398) (25,495)
Total assets less current liabilities (9,635) (18,254)
Creditors: amounts falling due after more than one year (291,286) (231,156)
Total net assets (liabilities) (300,921) (249,410)
Capital and reserves
Called up share capital 3 26 26
Profit and loss account (300,947) (249,436)
Shareholders' funds (300,921) (249,410)
  • For the year ending 28 February 2016 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 6 February 2017

And signed on their behalf by:
K R Cottam, Director

RESTART BUSINESS TURNAROUND AND INSOLVENCY LIMITED Registered Number 08635031

Notes to the Abbreviated Accounts for the period ended 28 February 2016

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 2015).

Turnover policy
Turnover represents the value, net of value added tax and discounts, of work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance.

Other accounting policies
Going concern
The accounts have been prepared on a going concern basis on the understanding that the directors will continue to support the company financially for the foreseeable future.
Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2Tangible fixed assets
£
Cost
At 1 March 2015 11,434
Additions 13,774
Disposals -
Revaluations -
Transfers -
At 28 February 2016 25,208
Depreciation
At 1 March 2015 4,193
Charge for the year 5,252
On disposals -
At 28 February 2016 9,445
Net book values
At 28 February 2016 15,763
At 28 February 2015 7,241
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
26 Ordinary shares of £1 each 26 26