Abbreviated Company Accounts - BOOM LIMITED

Registered Number 03165769

BOOM LIMITED

Abbreviated Accounts

31 July 2016

BOOM LIMITED Registered Number 03165769

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	532,324	567,532
		532,324	567,532
Current assets
Debtors		590,615	233,130
Cash at bank and in hand		445,502	262,882
		1,036,117	496,012
Creditors: amounts falling due within one year		(406,012)	(248,619)
Net current assets (liabilities)		630,105	247,393
Total assets less current liabilities		1,162,429	814,925
Provisions for liabilities		(71,671)	(71,671)
Total net assets (liabilities)		1,090,758	743,254
Capital and reserves
Called up share capital		80	80
Profit and loss account		1,090,678	743,174
Shareholders' funds		1,090,758	743,254

For the year ending 31 July 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 20 January 2017

And signed on their behalf by:
Mr M P Jensen, Director
Mr S Hilliker, Director

BOOM LIMITED Registered Number 03165769

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:
Short Leasehold over lease term
Studio installation 10% on cost
Fixtures, fittings & equipment 10% on cost

Other accounting policies
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2Tangible fixed assets

	£
Cost
At 1 August 2015	2,600,457
Additions	94,476
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2016	2,694,933
Depreciation
At 1 August 2015	2,032,925
Charge for the year	129,684
On disposals	-
At 31 July 2016	2,162,609
Net book values
At 31 July 2016	532,324
At 31 July 2015	567,532