RBSEO Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 07335483

RBSEO LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Tangible assets

4

70

139

CURRENT ASSETS

Debtors

5

4,432

-

Cash at bank

1,834

556

6,266

556

CREDITORS

Amounts falling due within one year

6

5,292

3,959

NET CURRENT ASSETS/(LIABILITIES)

974

(3,403

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,044

(3,264

)

PROVISIONS FOR LIABILITIES

21

28

NET ASSETS/(LIABILITIES)

1,023

(3,292

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

23

(4,292

)

1,023

(3,292

)

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

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

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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director on 23 February 2018 and were signed by:

Dr R S Brar - Director

1.	STATUTORY INFORMATION

RBSEO Ltd is a private company, limited by shares, registered in England. The company's registered office is

20-22 Wenlock Road, London, N1 7GU.

The presentation currency of the financial statements is Sterling (£).

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. There were no material departures from this standard. The financial

statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced sales of goods and services. The company's policy is to recognise a sale when

substantively all the risks and rewards in connection with the goods and services have been passed to the buyer.

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 etc

-

25% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in

the periods in which the timing differences reverse, based on tax rates and laws enacted or substantively enacted

at the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

and 31 August 2017

5,679

DEPRECIATION

At 1 September 2016

5,540

Charge for year

69

At 31 August 2017

5,609

NET BOOK VALUE

At 31 August 2017

70

At 31 August 2016

139

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

4,432

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

1,967

108

Other creditors

3,325

3,851

5,292

3,959

7.	RELATED PARTY DISCLOSURES

The balance due from the director at 31 August 2017 was £4,432 (2016 - £2,801 owed to director) and is

included in debtors. The amount is interest free and has no fixed repayment terms.

8.	FIRST YEAR ADOPTION

As required in Section 35 of FRS 102, the balances previously reported under the old UK GAAP at the date of

transition, 1 September 2015, and the prior year end, 31 August 2016 need to be restated for the changes which

have occurred on transition to FRS 102.

No restatement of the Profit and Loss Account or Balance Sheet and no changes to accounting policies have been

required on transition.