S.B.M.C .Business Management Limited - Period Ending 2016-10-31

Registration number: 02460722

S.B.M.C .Business Management Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

S.B.M.C .Business Management Limited
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Statutory Accounts of
S.B.M.C .Business Management Limited
for the Year Ended 31 October 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of S.B.M.C .Business Management Limited for the year ended 31 October 2016 set out on pages 2 to 5 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of S.B.M.C .Business Management Limited, as a body, in accordance. Our work has been undertaken solely to prepare for your approval the accounts of S.B.M.C .Business Management Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than S.B.M.C .Business Management Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that S.B.M.C .Business Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of S.B.M.C .Business Management Limited. You consider that S.B.M.C .Business Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of S.B.M.C .Business Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

SBMC Business Management Ltd
Accountants
432 Gloucester Road
Horfield
Bristol
BS7 8TX

6 March 2017

Page 1

S.B.M.C .Business Management Limited
(Registration number: 02460722)
Abbreviated Balance Sheet at 31 October 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					229,275			236,932
Current assets
Stocks					1,564			3,434
Debtors					154,643			138,239
Cash at bank and in hand					127,469			130,549
					283,676			272,222
Creditors: Amounts falling due within one year					(109,885)			(109,320)
Net current assets					173,791			162,902
Total assets less current liabilities					403,066			399,834
Creditors: Amounts falling due after more than one year					(93,421)			(104,538)
Provisions for liabilities					(5,253)			(6,282)
Net assets					304,392			289,014
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					304,292			288,914
Shareholders' funds					304,392			289,014

For the year ending 31 October 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 March 2017 and signed on its behalf by:

.........................................
Mr N J Jarrett
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

S.B.M.C .Business Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Evenly over its estimated useful life of five years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Freehold Property	5% on cost
Plant and Machinery etc	25% on cost and 15% on cost

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

S.B.M.C .Business Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation 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. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The compnay operates a money-purchase pension scheme. Contributions paid to the pension scheme are charged to the profit and loss account in the period in which they are paid.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 November 2015		32,327			333,703			366,030
Additions		-			8,839			8,839
At 31 October 2016		32,327			342,542			374,869
Depreciation
At 1 November 2015		32,327			96,771			129,098
Charge for the year		-			16,496			16,496
At 31 October 2016		32,327			113,267			145,594
Net book value
At 31 October 2016		-			229,275			229,275
At 31 October 2015		-			236,932			236,932

Page 4

S.B.M.C .Business Management Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2016 £			2015 £
Amounts falling due after more than one year		100,930			107,746

Included in the creditors are the following amounts due after more than five years:

		2016 £			2015 £
After more than five years by instalments		60,293			68,998

4	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		100			100			100			100

Page 5