The Yellow Bike Company Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 06922927 (England and Wales)

THE YELLOW BIKE COMPANY LTD

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2016

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2

FIXED ASSETS

Tangible assets

2

59,849

68,850

CURRENT ASSETS

Debtors

-

5,000

Cash at bank

774

4,912

774

9,912

CREDITORS

Amounts falling due within one year

(214,930

)

(198,438

)

NET CURRENT LIABILITIES

(214,156

)

(188,526

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(154,307

)

(119,676

)

CAPITAL AND RESERVES

Called up share capital

3

39,000

Share premium

10,000

Profit and loss account

(203,307

)

(168,676

)

SHAREHOLDERS' FUNDS

(154,307

)

(119,676

)

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 his 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 24 July 2017 and were signed by:

P R C Darlington - 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 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% Reducing balance

Fixtures and fittings

-

15% Reducing balance

Computer equipment

-

33% Reducing balance

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Going concern

The company is considered to be a going concern due to ongoing support provided by Mr P R C Darlington,

company director and the ultimate controlling party.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

138,682

Additions

1,888

At 31 October 2016

140,570

DEPRECIATION

At 1 November 2015

69,832

Charge for year

10,889

At 31 October 2016

80,721

NET BOOK VALUE

At 31 October 2016

59,849

At 31 October 2015

68,850

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

52,000

Ordinary

50p

26,000

13,000

Cumulative 7% Preference

£1

13,000

39,000

The 7% redeemable preference shares are only redeemable at the option of the company, not the shareholder,

and carry no voting rights. There are no date restrictions and no premium on redemption.