3BG Limited - Period Ending 2017-04-14
3BG Limited - Period Ending 2017-04-14
Company registration number:
for the Period from 1 July 2016 to
3BG Limited
Contents
Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
3BG Limited
(Registration number: 09615483)
Balance Sheet as at 14 April 2017
Note |
14 April 2017 |
30 June 2016 |
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Fixed assets |
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Tangible assets |
- |
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Current assets |
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Debtors |
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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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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
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Deferred tax liabilities |
- |
(114) |
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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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Profit and loss reserve |
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Total equity |
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For the financial period ending 14 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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 and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The option not to file the profit and loss account and directors’ report has been taken.
Approved and authorised by the
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Page 1
3BG Limited
Statement of Changes in Equity
for the Period from 1 July 2016 to 14 April 2017
Share capital |
Profit and loss reserve |
Total |
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At 1 July 2016 |
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Movement in period : |
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Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 14 April 2017 |
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Share capital |
Profit and loss reserve |
Total |
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At 1 July 2015 |
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- |
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Movement in period : |
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Profit for the period |
- |
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Total comprehensive income |
- |
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At 30 June 2016 |
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Page 2
3BG Limited
Notes to the Financial Statements
for the Period from 1 July 2016 to 14 April 2017
General information |
The company is a private company limited by share capital incorporated in Other.
The address of its registered office is:
The principal place of business is:
Luxborough Farm
Aisholt
Bridgwater
Somerset
TA5 1AR
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 are presented in Sterling (£) and have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Turnover recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tangible assets
Tangible assets are stated at cost, less accumulated depreciation and accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Page 3
3BG Limited
Notes to the Financial Statements
for the Period from 1 July 2016 to 14 April 2017
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
25% 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.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
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.
Reserves
Called up share capital represents the nominal value of shares that have been issued.
Profit and loss account includes all current and prior period profits and losses.
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.
Tangible assets |
Computer equipment |
Total |
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Cost or valuation |
Page 4
3BG Limited
Notes to the Financial Statements
for the Period from 1 July 2016 to 14 April 2017
Computer equipment |
Total |
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At 1 July 2016 |
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Disposals |
( |
( |
At 14 April 2017 |
- |
- |
Depreciation |
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At 1 July 2016 |
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Eliminated on disposal |
( |
( |
At 14 April 2017 |
- |
- |
Carrying amount |
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At 14 April 2017 |
- |
- |
At 30 June 2016 |
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Debtors |
14 April 2017 |
30 June 2016 |
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Trade debtors |
- |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
- |
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Corporation tax |
8,127 |
23,304 |
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Other creditors |
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Page 5
3BG Limited
Notes to the Financial Statements
for the Period from 1 July 2016 to 14 April 2017
Related party transactions |
Transactions with directors |
2017 |
At 1 July 2016 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 14 April 2017 |
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Shawn S R I Trott |
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Interest free loan with no fixed terms for repayment |
216 |
( |
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- |
- |
- |
( |
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2016 |
At 1 July 2015 |
Advances to directors |
Re- payments by director |
Other payments made to company by director |
Written off |
Waived |
At 30 June 2016 |
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Shawn S R I Trott |
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Interest free loan with no fixed terms for repayment |
- |
- |
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- |
- |
- |
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Transition to FRS 102 |
Balance Sheet at 1 July 2015
As originally reported |
Re- |
Re- |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
Page 6
3BG Limited
Notes to the Financial Statements
for the Period from 1 July 2016 to 14 April 2017
Balance Sheet at 30 June 2016
As originally reported |
Re- |
Re- |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
Page 7