Momentum Business Gifts Limited - Accounts to registrar (filleted) - small 17.3
Momentum Business Gifts Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31st July 2017 |
for |
Momentum Business Gifts Limited |
Momentum Business Gifts Limited (Registered number: 04287812) |
Contents of the Financial Statements |
for the Year Ended 31st July 2017 |
Page |
Company Information | 1 |
Abridged Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Momentum Business Gifts Limited |
Company Information |
for the Year Ended 31st July 2017 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
Momentum Business Gifts Limited (Registered number: 04287812) |
Abridged Balance Sheet |
31st July 2017 |
31/7/17 | 31/7/16 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Momentum Business Gifts Limited (Registered number: 04287812) |
Abridged Balance Sheet - continued |
31st July 2017 |
In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
The financial statements were approved by the director on |
Momentum Business Gifts Limited (Registered number: 04287812) |
Notes to the Financial Statements |
for the Year Ended 31st July 2017 |
1. | STATUTORY INFORMATION |
Momentum Business Gifts Limited is a |
The company's registered number and registered office address can be found on the Company Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Land and buildings | - |
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The following liabilities are classified as financial instruments - directors loans. |
Directors loans (being repayable on demand) are measured at the undiscounted amount of the cash or other |
consideration expected to be paid or received. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, |
except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or |
substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from |
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that |
have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the |
timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they |
will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Momentum Business Gifts Limited (Registered number: 04287812) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2017 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
At 1st August 2016 |
Revaluations |
At 31st July 2017 |
DEPRECIATION |
At 1st August 2016 |
Revaluation adjustments | ( |
) |
At 31st July 2017 |
NET BOOK VALUE |
At 31st July 2017 |
At 31st July 2016 |
Cost or valuation at 31st July 2017 is represented by: |
Totals |
£ |
Valuation in 2004 | 300,000 |
Valuation in 2009 | 262,500 |
Valuation in 2017 | 277,500 |
840,000 |
If land and buildings had not been revalued they would have been included at the following historical cost: |
31/7/17 | 31/7/16 |
£ | £ |
Cost | 300,000 | 300,000 |
Aggregate depreciation | 63,000 | 58,500 |
Value of land in freehold land and buildings | 56,250 | 56,250 |
5. | FIXED ASSET INVESTMENTS |
Information on investments other than loans is as follows: |
Totals |
£ |
COST |
At 1st August 2016 |
and 31st July 2017 | 100 |
NET BOOK VALUE |
At 31st July 2017 | 100 |
At 31st July 2016 | 100 |
Momentum Business Gifts Limited (Registered number: 04287812) |
Notes to the Financial Statements - continued |
for the Year Ended 31st July 2017 |
6. | FIRST YEAR ADOPTION |
The company has transitioned to FRS 102 from previously being prepared under the historical cost convention |
and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2015) as at 1st |
August 2016. |