The Business Incentives Group Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: SC347368 (Scotland)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

FOR

THE BUSINESS INCENTIVES GROUP LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

I Adie

A Adie

Mrs A Adie

REGISTERED OFFICE:

6th Floor, Gordon Chambers

90 Mitchell Street

Glasgow

G1 3NQ

REGISTERED NUMBER:

SC347368 (Scotland)

ACCOUNTANTS:

Henderson Loggie

90 Mitchell Street

Glasgow

Lanarkshire

G1 3NQ

FIXED ASSETS

Intangible assets

2

11,754

-

Tangible assets

3

60,173

54,279

Investments

4

2

71,929

54,281

CURRENT ASSETS

Stocks

66,605

54,070

Debtors

94,146

119,528

Cash at bank and in hand

202,970

265,233

363,721

438,831

CREDITORS

Amounts falling due within one year

408,008

450,751

NET CURRENT LIABILITIES

(44,287

)

(11,920

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

27,642

42,361

CREDITORS

Amounts falling due after more than one
year

27,231

32,480

NET ASSETS

411

9,881

CAPITAL AND RESERVES

Called up share capital

5

102

Profit and loss account

309

9,779

SHAREHOLDERS' FUNDS

411

9,881

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 30 May 2017 and were signed on its behalf by:

A Adie - Director

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

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on a reducing balance basis

Fixtures and fittings

-

20% on a reducing balance basis

Computer equipment

-

33% on a straight line basis

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

13,060

At 31 August 2016

13,060

AMORTISATION

Amortisation for year

1,306

At 31 August 2016

1,306

NET BOOK VALUE

At 31 August 2016

11,754

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 September 2015

77,630

Additions

24,964

At 31 August 2016

102,594

DEPRECIATION

At 1 September 2015

23,351

Charge for year

19,070

At 31 August 2016

42,421

NET BOOK VALUE

At 31 August 2016

60,173

At 31 August 2015

54,279

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 September 2015

and 31 August 2016

2

NET BOOK VALUE

At 31 August 2016

2

At 31 August 2015

2

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Business Incentives Limited

Nature of business: general trading

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

1

Big Sourcing Limited

Nature of business: general trading

%

Class of shares:

holding

Ordinary

100.00

2016

2015

£

Aggregate capital and reserves

1

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

ordinary

£1

100

2

Ordinary A-J

£1

2

102