Orange Balloon Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 09278545 (England and Wales)

ORANGE BALLOON LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Mrs S J Penney

SECRETARY:

Mrs S J Penney

REGISTERED OFFICE:

Station House

North Street

Havant

Hampshire

PO9 1QU

REGISTERED NUMBER:

09278545 (England and Wales)

ACCOUNTANTS:

Morris Crocker

Chartered Accountants

Station House

North Street

Havant

Hampshire

PO9 1QU

FIXED ASSETS

Intangible assets

2

6,475

-

CURRENT ASSETS

Stocks

4,022

-

Debtors

638

329

Cash at bank

4,752

16,353

9,412

16,682

CREDITORS

Amounts falling due within one year

18,957

17,276

NET CURRENT LIABILITIES

(9,545

)

(594

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,070

)

(594

)

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

(3,072

)

(596

)

SHAREHOLDERS' FUNDS

(3,070

)

(594

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director on 10 July 2017 and were signed by:

Mrs S J Penney - 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 is derived from ordinary activities, stated net of Value Added Tax. The revenue is recognised

at the point when the company satisfies a performance obligation to a customer as agreed.

Franchise fee

Franchise fee, being the amount paid in the year, is being amortised over its useful life of 5 years.

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.

Going concern

The company has the continued financial support of its director Mrs S J Penney, who has agreed not

to request repayment of her loan until the company has the funds available. On this basis the director

of Orange Balloon Limited considers it appropriate to prepare accounts on the going concern basis.

The financial statements do not include any adjustments that would result in the company suffering

further trading losses.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Additions

7,000

At 31 October 2016

7,000

AMORTISATION

Amortisation for year

525

At 31 October 2016

525

NET BOOK VALUE

At 31 October 2016

6,475

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2