The Black Whole Limited - Abbreviated accounts 16.3

The Black Whole Limited - Abbreviated accounts 16.3

THE BLACK WHOLE LIMITED - Company Information

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REGISTERED NUMBER: 07995333 (England and Wales)


























ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

FOR

THE BLACK WHOLE LIMITED








THE BLACK WHOLE LIMITED (REGISTERED NUMBER: 07995333)

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

THE BLACK WHOLE LIMITED (REGISTERED NUMBER: 07995333)

ABBREVIATED BALANCE SHEET
31 MAY 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 41,631 48,569
Tangible assets 3 343,640 387,976
385,271 436,545

CURRENT ASSETS
Stocks 26,732 28,778
Debtors 32,189 24,741
Cash at bank and in hand 315,269 220,085
374,190 273,604
CREDITORS
Amounts falling due within one year 447,902 463,785
NET CURRENT LIABILITIES (73,712 ) (190,181 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
311,559
246,364

PROVISIONS FOR LIABILITIES 37,689 41,796
NET ASSETS 273,870 204,568

CAPITAL AND RESERVES
Called up share capital 4 150 150
Profit and loss account 273,720 204,418
SHAREHOLDERS' FUNDS 273,870 204,568

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

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

The directors acknowledge their 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 Board of Directors on 7 October 2016 and were signed on its behalf by:





Mr D G Nicholson - Director


The notes form part of these abbreviated accounts

Page 1
THE BLACK WHOLE LIMITED (REGISTERED NUMBER: 07995333)

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2016


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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of
Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done
in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and
contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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

Improvements to property - 10% straight line
Plant and machinery - 20% straight line
Fixtures and fittings - 20% straight line
Motor vehicles - 25% on reducing balance
Computer equipment - 25% straight line

All fixed assets are initially recorded at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay
more, or a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed
assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the
extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned.
However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more
likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the
replacement assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that
there will be suitable taxable profits from which the future reversal of the underlying timing differences can be
deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in
which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance
sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

Page 2 continued...
THE BLACK WHOLE LIMITED (REGISTERED NUMBER: 07995333)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE YEAR ENDED 31 MAY 2016


1. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2015
and 31 May 2016 69,383
AMORTISATION
At 1 June 2015 20,814
Amortisation for year 6,938
At 31 May 2016 27,752
NET BOOK VALUE

At 31 May 2016 41,631
At 31 May 2015 48,569

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 June 2015 502,161
Additions 31,177
Disposals (413 )
At 31 May 2016 532,925
DEPRECIATION
At 1 June 2015 114,185
Charge for year 75,382
Eliminated on disposal (282 )
At 31 May 2016 189,285
NET BOOK VALUE
At 31 May 2016 343,640
At 31 May 2015 387,976

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
100 Ordinary A £1 100 100
50 Ordinary B £1 50 50
150 150

Page 3