I_TALK_RUBBISH_LIMITED - Accounts

I TALK RUBBISH LIMITED - Company Information

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Company Registration No. 08220974 (England and Wales)

I TALK RUBBISH LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

I TALK RUBBISH LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

I TALK RUBBISH LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

9,125

12,166

Current assets

Cash at bank and in hand

421

Creditors: amounts falling due within one year

(60,664)

(51,058)

Net current liabilities

(60,243)

(51,003)

Total assets less current liabilities

(51,118)

(38,837)

Creditors: amounts falling due after more than one year

(398)

(51,118)

(39,235)

Capital and reserves

Called up share capital

Profit and loss account

(51,120)

(39,237)

Shareholders' funds

(51,118)

(39,235)

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.

Director's 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 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 29 June 2017

J Lilley

Director

Company Registration No. 08220974

I TALK RUBBISH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

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).

These financial statements have been prepared on a going concern basis which assumes that the company is dependent upon the continued support from the company's director. The director has considered the period ahead and addressed the company's performance in light of the current economic downturn. The director is confident that continued financial support to the company will be forthcoming for the foreseeable future to ensure that the company can meet its day-to-day commitments from cash flows. As a consequence, the director believes that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. As such, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, he continues to adopt the going concern basis in preparing the annual report and accounts.

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:

Motor vehicles

25% Reducing Balance

1.4

Financial Instruments

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.

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

28,840

Depreciation

At 1 October 2015

16,673

Charge for the year

3,042

At 30 September 2016

19,715

Net book value

At 30 September 2016

9,125

At 30 September 2015

12,166

I TALK RUBBISH LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary Shares of £1 each