Busy Lizzy Mum Limited - Accounts to registrar (filleted) - small 17.3

BUSY LIZZY MUM LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J Yates

Mrs S Batterbury

M Clabby

REGISTERED OFFICE:

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

REGISTERED NUMBER:

07754378 (England and Wales)

ACCOUNTANTS:

Halsey & Co (Accountants) Ltd.

Chartered Certified Accountants

Registered Auditors

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

FIXED ASSETS

Intangible assets

4

10,767

10,432

Tangible assets

5

10,040

9,963

20,807

20,395

CURRENT ASSETS

Debtors

6

13,388

6,785

Cash at bank

29,646

70,607

43,034

77,392

CREDITORS

Amounts falling due within one year

7

29,648

46,860

NET CURRENT ASSETS

13,386

30,532

TOTAL ASSETS LESS CURRENT LIABILITIES

34,193

50,927

PROVISIONS FOR LIABILITIES

1,908

-

NET ASSETS

32,285

50,927

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

32,275

50,917

SHAREHOLDERS' FUNDS

32,285

50,927

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 28th February 2018 and were signed on its behalf by:

Ms J Yates - Director

1.	STATUTORY INFORMATION

Busy Lizzy Mum Limited is a private company, limited by shares , registered in England and Wales. 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

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st September 2016

12,945

Additions

2,851

At 31st August 2017

15,796

AMORTISATION

At 1st September 2016

2,513

Charge for year

2,516

At 31st August 2017

5,029

NET BOOK VALUE

At 31st August 2017

10,767

At 31st August 2016

10,432

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st September 2016

3,904

11,163

268

15,335

Additions

3,423

-

-

3,423

At 31st August 2017

7,327

11,163

268

18,758

DEPRECIATION

At 1st September 2016

2,514

2,791

67

5,372

Charge for year

1,203

2,093

50

3,346

At 31st August 2017

3,717

4,884

117

8,718

NET BOOK VALUE

At 31st August 2017

3,610

6,279

151

10,040

At 31st August 2016

1,390

8,372

201

9,963

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

7,312

109

Cash In Transit

876

876

Other debtors

5,200

5,800

13,388

6,785

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade creditors

1,598

2,798

Taxation and social security

18,138

35,732

Other creditors

9,912

8,330

29,648

46,860

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £62,684 were paid to the directors .

At the balance sheet date, the company owed £3,245 (2016: £2,803) to Ms J Yates, the director and shareholder

of the company. The loan was interest free and repayable on demand.

At the balance sheet date, the company owed £5,527 (2016: £5,527) to Mrs S Batterbury, the director and

shareholder of the company. The loan was interest free and repayable on demand.

At the balance sheet date, the company owed £1,141 (£nil) to M Clabby, the director and shareholder of the

company. The loan was interest free and repayable on demand.

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by Ms J Yates and Mr M Clabby.

10.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the period ended 31 August 2016. The date of transition to FRS 102 was 1 September

2015. There have been no significant changes in accounting policies for the company as the result of transition to

FRS102 and a reconciliation of profit for the period ended 31 August 2016 and equity as at 1 September 2015

and 31 August 2016 between UK GAAP as previously reported and FRS 102 are not required as there are no

changes to the figures presented.