Micro-entity Accounts - WALTON BODY & BRAIN LTD

WALTON BODY & BRAIN LTD - Company Information

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Registered Number 09135089

WALTON BODY & BRAIN LTD

Micro-entity Accounts

31 July 2017

WALTON BODY & BRAIN LTD Registered Number 09135089

Micro-entity Balance Sheet as at 31 July 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets	1	3,362	2,327
		3,362	2,327
Current Assets		63,134	59,147
Creditors: amounts falling due within one year		(38,480)	(30,655)
Net current assets (liabilities)		24,654	28,492
Total assets less current liabilities		28,016	30,819
Creditors: amounts falling due after more than one year		(50,000)	(50,000)
Total net assets (liabilities)		(21,984)	(19,181)
Capital and reserves
Called up share capital	2	1,000	1,000
Profit and loss account		(22,984)	(20,181)
Shareholders' funds		(21,984)	(19,181)

For the year ending 31 July 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 15 August 2017

And signed on their behalf by:
Jeonghee JEON, Director

WALTON BODY & BRAIN LTD Registered Number 09135089

Notes to the Micro-entity Accounts for the period ended 31 July 2017

1Tangible fixed assets

	£
Cost
At 1 August 2016	3,523
Additions	1,875
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2017	5,398
Depreciation
At 1 August 2016	1,196
Charge for the year	840
On disposals	-
At 31 July 2017	2,036
Net book values
At 31 July 2017	3,362
At 31 July 2016	2,327

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £	2016 £
1,000 Ordinary shares of £1 each	1,000	1,000

3Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible assets depreciation policy
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery: over 5 years
Fixtures, fittings, tools and equipment: over 5 years

Intangible assets amortisation policy
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

Valuation information and policy
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

Other accounting policies
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.