BUSINESS OF INVOLVEMENT LTD Company Accounts

BUSINESS OF INVOLVEMENT LTD - Company Information

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COMPANY REGISTRATION NUMBER: 03251375

BUSINESS OF INVOLVEMENT LTD

Filleted Unaudited Financial Statements

31 December 2016

BUSINESS OF INVOLVEMENT LTD

Financial Statements

Year ended 31 December 2016

Contents	Page

Officers and professional advisers	1

Directors' report	2

Statement of financial position	4

Notes to the financial statements	6

BUSINESS OF INVOLVEMENT LTD

Officers and Professional Advisers

The board of directors	D. Matthew
	P J Lowe
	K Jones
	J. C. Starling
	A R Freeman

Registered office	1st Floor, Midmoor House
	1-2 Kew Road
	Richmond Upon Thames
	Surrey
	TW9 2NQ

Accountants	Higgins Fairbairn & Co
	Chartered Accountants
	1st Floor
	24/25 New Bond Street
	Mayfair
	London
	W1S 2RR

Bankers	Barclays Bank Plc
	93 Baker Street
	London
	W1A 4SD

BUSINESS OF INVOLVEMENT LTD

Directors' Report

Year ended 31 December 2016

The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2016 .

Directors

The directors who served the company during the year were as follows:

D. Matthew
P J Lowe
K Jones
J. C. Starling
A R Freeman
J P Prior	(Resigned 1 February 2016)

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 29 September 2017 and signed on behalf of the board by:

P J Lowe

Director

Registered office:

1st Floor, Midmoor House

1-2 Kew Road

Richmond Upon Thames

Surrey

TW9 2NQ

BUSINESS OF INVOLVEMENT LTD

Statement of Financial Position

31 December 2016

	2016		2015
Note	£	£	£

Fixed assets

Tangible assets	6		84,644	72,126

Current assets

Debtors	7	509,411	1,122,297
Cash at bank and in hand		228,967	215,669
		---------	------------
		738,378	1,337,966

Creditors: amounts falling due within one year	8	603,215		973,103
		---------		------------
Net current assets			135,163	364,863
			---------	---------
Total assets less current liabilities			219,807	436,989

Creditors: amounts falling due after more than one year	9		120,000	–

Provisions

Taxation including deferred tax	( 44,065)	11,002
	---------	---------
Net assets	143,872	425,987
	---------	---------

Capital and reserves

Called up share capital	10	9,167	9,167
Profit and loss account		134,705	416,820
		---------	---------
Members funds		143,872	425,987
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2016 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 .

BUSINESS OF INVOLVEMENT LTD

Statement of Financial Position (continued)

31 December 2016

These financial statements were approved by the board of directors and authorised for issue on 29 September 2017 , and are signed on behalf of the board by:

P J Lowe

Director

Company registration number: 03251375

BUSINESS OF INVOLVEMENT LTD

Notes to the Financial Statements

Year ended 31 December 2016

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Midmoor House, 1-2 Kew Road, Richmond Upon Thames, Surrey, TW9 2NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax, in respect of events produced during the year. Revenue is recognised in the period in which events are held. Any advance receipts and payments are carried forward as deferred income or prepaid job costs.

Income tax

Deferred Tax is recognised in respect of all timing difference that have been originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixture, fittings and equipment	-	25% reducing balance
Equipment	-	25% reducing balance
Computer software	-	25% reducing balance

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Particulars of employees

The average number of persons employed by the company during the year, including the directors, amounted to 13 (2015: 25 ).

5. Taxation on ordinary activities

Major components of tax (income)/expense

	2016	2015
	£	£

Current tax:

UK current tax expense	–	7,380

Deferred tax:

Origination and reversal of timing differences	( 62,447)	( 3,305)
	--------	-------
Taxation on ordinary activities	( 62,447)	4,075
	--------	-------

6. Tangible assets

	Fixtures and fittings	Equipment	User defined asset	Total
	£	£	£	£
Cost
At 1 January 2016	167,569	425,908	30,971	624,448
Additions	26,764	1,145	–	27,909
	---------	---------	--------	---------
At 31 December 2016	194,333	427,053	30,971	652,357
	---------	---------	--------	---------
Depreciation
At 1 January 2016	151,364	371,234	29,724	552,322
Charge for the year	3,311	12,015	65	15,391
	---------	---------	--------	---------
At 31 December 2016	154,675	383,249	29,789	567,713
	---------	---------	--------	---------
Carrying amount
At 31 December 2016	39,658	43,804	1,182	84,644
	---------	---------	--------	---------
At 31 December 2015	16,205	54,674	1,247	72,126
	---------	---------	--------	---------

7. Debtors

	2016	2015
	£	£
Trade debtors	119,152	579,064
Other debtors	390,259	543,233
	---------	------------
	509,411	1,122,297
	---------	------------

8. Creditors: amounts falling due within one year

	2016	2015
	£	£
Loan - Funding Circle	30,000	–
Trade creditors	317,957	487,983
Corporation tax	–	12,816
Social security and other taxes	182,926	355,340
Other creditors	72,332	116,964
	---------	---------
	603,215	973,103
	---------	---------

9. Creditors: amounts falling due after more than one year

	2016	2015
	£	£
Loan - Funding Circle	120,000	–
	---------	----

10. Called up share capital

Issued, called up and fully paid

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 0.10 each	91,670	9,167	91,670	9,167
	--------	-------	--------	-------

11.