Baby Beat Ltd - Period Ending 2017-03-31
Baby Beat Ltd - Period Ending 2017-03-31
Registration number:
Baby Beat Ltd
for the Year Ended 31 March 2017
1st Floor Offices
7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG
Baby Beat Ltd
Contents
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Company Information |
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Accountants' Report |
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Statement of Comprehensive Income |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Baby Beat Ltd
Company Information
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Directors |
Mr SEAN HUGHES Mrs C MCGOURTY |
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Registered office |
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Accountants |
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Page 1 |
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Baby Beat Ltd
for the Year Ended 31 March 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Baby Beat Ltd for the year ended 31 March 2017 as set out on pages 3 to 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Baby Beat Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Baby Beat Ltd and state those matters that we have agreed to state to the Board of Directors of Baby Beat Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Baby Beat Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Baby Beat Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and results of Baby Beat Ltd. You consider that Baby Beat Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Baby Beat Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG
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Page 2 |
Baby Beat Ltd
Statement of Comprehensive Income for the Year Ended 31 March 2017
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Note |
2017 |
2016 |
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Profit/(loss) for the year |
- |
- |
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Total comprehensive income for the year |
- |
- |
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Page 3 |
Baby Beat Ltd
(Registration number: 03817502)
Balance Sheet as at 31 March 2017
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Note |
2017 |
2016 |
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Current assets |
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Stocks |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Total equity |
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For the financial year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs C MCGOURTY
Director
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Page 4 |
Baby Beat Ltd
Statement of Changes in Equity for the Year Ended 31 March 2017
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Share capital |
Total |
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At 1 April 2016 |
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At 31 March 2017 |
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Share capital |
Total |
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At 1 April 2015 |
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At 31 March 2016 |
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Page 5 |
Baby Beat Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
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General information |
The company is a private company limited by share capital incorporated in England and Wales .
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Depreciation
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Asset class |
Depreciation method and rate |
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Computer Equipment |
33% on cost |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
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Page 6 |
Baby Beat Ltd
Notes to the Financial Statements for the Year Ended 31 March 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Stocks |
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2017 |
2016 |
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Finished goods and goods for resale |
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Creditors |
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Note |
2017 |
2016 |
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Due within one year |
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VAT Control account |
1,460 |
1,169 |
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Amounts due to Baby Beat Appeal |
28,589 |
20,960 |
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Accruals |
375 |
375 |
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Due after one year |
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Loan from Baby Beat Appeal |
11,500 |
11,500 |
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Share capital |
Allotted, called up and fully paid shares
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2017 |
2016 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
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Page 7 |