UK Bolt Ltd - Period Ending 2016-08-31

Registration number: 06863873

UK Bolt Ltd

Unaudited Abbreviated Accounts
 
for the Year Ended 31 August 2016

Walker Hubble
Certified accountants
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

UK Bolt Ltd

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3 to 5

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
UK Bolt Ltd
for the Year Ended 31 August 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of UK Bolt Ltd for the year ended 31 August 2016 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of UK Bolt Ltd, as a body, in accordance with the terms of our engagement letter dated 21 May 2014. Our work has been undertaken solely to prepare for your approval the accounts of UK Bolt Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than UK Bolt Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that UK Bolt Ltd 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 UK Bolt Ltd. You consider that UK Bolt Ltd 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 UK Bolt Ltd. 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.

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

Walker Hubble
Certified accountants
5 Parsons Street
Dudley
West Midlands
DY1 1JJ

5 May 2017

Page 1

UK Bolt Ltd

(Registration number: 06863873)
Abbreviated Balance Sheet as at 31 August 2016

	Note	2016  £	2015  £
Fixed assets
Tangible assets	2	4,964	195
Current assets
Debtors		9,649	16,805
Cash at bank and in hand		8,196	5,392
		17,845	22,197
Creditors: Amounts falling due within one year		(19,607)	(21,085)
Net current (liabilities)/assets		(1,762)	1,112
Total assets less current liabilities		3,202	1,307
Provisions for liabilities		(993)	(39)
Accruals and deferred income		(1,667)	(800)
Net assets		542	468
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		442	368
Shareholders funds		542	468

For the year ending 31 August 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 5 May 2017 and signed on its behalf by:

.........................................
Mr Malcolm Bremner Walker
Director

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

UK Bolt Ltd

Notes to the Abbreviated Accounts

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 April 2008).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

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
Fixtures, fittings and equipment	20% reducing balance
Motor vehicles	25% reducing balance

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

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

UK Bolt Ltd

Notes to the Abbreviated Accounts (continued)

2

Fixed assets

	Tangible assets £	Total £
Cost
At 1 September 2015	500	500
Additions	5,167	5,167
At 31 August 2016	5,667	5,667
Depreciation
At 1 September 2015	305	305
Charge for the year	398	398
At 31 August 2016	703	703
Net book value
At 31 August 2016	4,964	4,964
At 31 August 2015	195	195

3

Share capital

Allotted, called up and fully paid shares

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

4

Related party transactions

Transactions with directors

2016	At 1 September 2015 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 August 2016 £
Mr Malcolm Bremner Walker
Interest free loan	9,727	-	(8,213)	-	1,514
Mrs Penelope Louise Walker
Interest free loan	6,918	1,217	-	-	8,135

Page 4

UK Bolt Ltd

Notes to the Abbreviated Accounts (continued)

4

Related party transactions (continued)

2015	At 1 September 2014 £	Advances to directors £	Repayments by director £	Other payments made to company by director £	At 31 August 2015 £
Mr Malcolm Bremner Walker
Interest free loan	7,429	5,698	(3,400)	-	9,727
Mrs Penelope Louise Walker
Interest free loan	7,596	2,722	(3,400)	-	6,918

5

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 5