BUSUU LIMITED

BUSUU LIMITED

BUSUU LIMITED - Company Information

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BUSUU LIMITED

Company Registration Number:
08172044 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2017

Period of accounts

Start date: 01 January 2017

End date: 31 December 2017

BUSUU LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2017

Balance sheet
Notes

BUSUU LIMITED

Balance sheet

As at 31 December 2017


Notes
2017
2016


£
£
Fixed assets
Intangible assets: 3 610,666 732,799
Tangible assets: 4 10,481 43,099
Investments:   0 0
Total fixed assets: 621,147 775,898
Current assets
Stocks: 0 0
Debtors:   2,078,811 1,525,592
Cash at bank and in hand: 840,595 778,522
Investments:   0 0
Total current assets: 2,919,406 2,304,114
Creditors: amounts falling due within one year: 5 (4,227,106) (2,564,805)
Net current assets (liabilities): (1,307,700) (260,691)
Total assets less current liabilities: (686,553) 515,207
Creditors: amounts falling due after more than one year: 6 (12,480,835) (8,571,107)
Provision for liabilities: 0 0
Total net assets (liabilities): (13,167,388) (8,055,900)
Capital and reserves
Called up share capital: 1 1
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: (13,167,389) (8,055,901)
Shareholders funds: (13,167,388) (8,055,900)

The notes form part of these financial statements

BUSUU LIMITED

Balance sheet statements

For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 19 March 2018
and signed on behalf of the board by:

Name: Bernhard Niesner
Status: Director

The notes form part of these financial statements

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

2. Employees

2017 2016
Average number of employees during the period 51 39

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

3. Intangible Assets

Total
Cost £
At 01 January 2017 1,221,332
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2017 1,221,332
Amortisation
At 01 January 2017 488,533
Charge for year 122,133
On disposals 0
Other adjustments 0
At 31 December 2017 610,666
Net book value
At 31 December 2017 610,666
At 31 December 2016 732,799

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

4. Tangible Assets

Total
Cost £
At 01 January 2017 252,900
Additions 2,238
Disposals 0
Revaluations 0
Transfers 0
At 31 December 2017 255,138
Depreciation
At 01 January 2017 209,801
Charge for year 34,856
On disposals 0
Other adjustments 0
At 31 December 2017 244,657
Net book value
At 31 December 2017 10,481
At 31 December 2016 43,099

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

5. Creditors: amounts falling due within one year note

Amounts falling due within one yearTrade creditors 408,069Taxation and social security 27,362Other creditors 4,215Accruals 398,474Deferred income 3,388,986

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

6. Creditors: amounts falling due after more than one year note

Amounts falling due after more than one yearAmounts owed to group undertakings 8,962,390 Amounts owed to related parties 3,518,445

BUSUU LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

7. Related party transactions

Loan from Group Company £8,962,390Balance due on 31st August 2020Loan from Related Parties £3,518,445Balance due on 29th July 2020