Company Registration No. 05895971 (England and Wales)
BAREBONES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
BAREBONES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BAREBONES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
23,182
3,325
Current assets
Debtors
3,180
5,608
Cash at bank and in hand
2
5,001
3,182
10,609
Creditors: amounts falling due within one year
(25,184)
(13,707)
Net current liabilities
(22,002)
(3,098)
Total assets less current liabilities
1,180
227
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
1,080
127
Shareholder's funds
1,180
227
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 31 May 2017
A Whitehead
Director
Company Registration No. 05895971
BAREBONES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
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:
Plant and machinery
25% Reducing balance method
Computer equipment
Straight line over 3 years
Motor vehicles
25% Reducing balance method
1.4
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
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
8,334
Additions
20,950
At 31 August 2016
29,284
Depreciation
At 1 September 2015
5,009
Charge for the year
1,093
At 31 August 2016
6,102
Net book value
At 31 August 2016
23,182
At 31 August 2015
3,325
BAREBONES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
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