Company Registration No. 04526633 (England and Wales)
B3 Designers Limited
Unaudited Abbreviated Financial Statements
For The Year Ended 30 September 2016
B3 Designers Limited
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
B3 Designers Limited
Abbreviated Balance Sheet
As At 30 September 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
54,558
56,842
Current assets
Debtors
455,954
485,175
Cash at bank and in hand
186,178
135,783
642,132
620,958
Creditors: amounts falling due within one year
(280,055)
(313,502)
Net current assets
362,077
307,456
Total assets less current liabilities
416,635
364,298
Creditors: amounts falling due after more than one year
-
(9,371)
416,635
354,927
Capital and reserves
Called up share capital
3
10
10
Profit and loss account
416,625
354,917
Shareholders' funds
416,635
354,927
For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 9 June 2017
Mr M Bithrey
Director
Company Registration No. 04526633
B3 Designers Limited
Notes To The Abbreviated Accounts
For The Year Ended 30 September 2016
Page 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
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
1.4
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:
Land and buildings Leasehold
Straight line over 20 years
Plant and machinery
Straight line over 10 months
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
B3 Designers Limited
Notes To The Abbreviated Accounts (Continued)
For The Year Ended 30 September 2016
Page 3
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2015
107,665
Additions
8,348
At 30 September 2016
116,013
Depreciation
At 1 October 2015
50,823
Charge for the year
10,632
At 30 September 2016
61,455
Net book value
At 30 September 2016
54,558
At 30 September 2015
56,842
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10 Ordinary shares of £1 each
10
10
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