2_SMALL_2_BE_HUMBLE_LIMIT - Accounts

2 SMALL 2 BE HUMBLE LIMITED - Company Information

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Company Registration No. 06080343 (England and Wales)

2 SMALL 2 BE HUMBLE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

2 SMALL 2 BE HUMBLE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

2 SMALL 2 BE HUMBLE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

198,146

399,548

Current assets

Debtors

27,112

24,409

Cash at bank and in hand

248,215

119,113

275,327

143,522

Creditors: amounts falling due within one year

(20,705)

(43,063)

Net current assets

254,622

100,459

Total assets less current liabilities

452,768

500,007

Provisions for liabilities

(718)

(1,079)

452,050

498,928

Capital and reserves

Called up share capital

Profit and loss account

452,047

498,925

Shareholders' funds

452,050

498,928

For the financial year ended 28 February 2014 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 18 November 2014

I Sparkes

Director

Company Registration No. 06080343

2 SMALL 2 BE HUMBLE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 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 April 2008).

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.

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:

Fixtures, fittings & equipment

25% straight line basis

Investment properties are included in the balance sheet at their open market value. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.

Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be seperately identified or quantified.

1.5

Revenue recognition

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to clients is included in debtors and payments on account in excess of the relevant amount of revenue are included in creditors.

Fee income that is contingent on events outside the control of the firm is recognised when the contingent event occurs.

2 SMALL 2 BE HUMBLE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 March 2013

399,906

Additions

54,606

Disposals

(252,855)

At 28 February 2014

201,657

Depreciation

At 1 March 2013

358

Charge for the year

3,153

At 28 February 2014

3,511

Net book value

At 28 February 2014

198,146

At 28 February 2013

399,548

Share capital

2014

2013

Allotted, called up and fully paid

3 Ordinary shares of £1 each

Ultimate parent company

During the year the company was under the control of its three directors, I Sparkes, M Skarendahl and A Sharlandl who together own 100% of the company's issued share capital.