Adventure Balloons Limited Filleted accounts for Companies House (small and micro)
Adventure Balloons Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
04837166
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for the year ended |
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Statement of Financial Position |
as at
5 November 2017
2017 |
2016 |
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Note |
£ |
£ |
£ |
£ |
Fixed assets
Intangible assets |
5 |
– |
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Tangible assets |
6 |
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Investments |
7 |
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Current assets
Stocks |
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Debtors |
8 |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
9 |
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Net current (liabilities)/assets |
(
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Total assets less current liabilities |
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Provisions
Taxation including deferred tax |
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Net assets |
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Capital and reserves
Called up share capital |
10 |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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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 financial statements
.
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Statement of Financial Position (continued) |
as at
5 November 2017
These financial statements were approved by the
board of directors
and authorised for issue on
30 July 2018
, and are signed on behalf of the board by:
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Director |
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Company registration number:
04837166
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Notes to the Financial Statements |
for the year ended 5th November 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bank House, Broad Street, Spalding, Lincolnshire, PE11 1TB. The trading address of the company is Winchfield Park, London Road, Hartley Wintney, Hampshire, RG27 8HY.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 6th November 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 12.
Revenue recognition
Income tax
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill |
- |
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Solar panels |
- |
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Plant and machinery |
- |
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Office equipment |
- |
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Motor vehicles |
- |
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
Stocks
Provisions
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
Defined contribution plans
4.
Staff costs
The average number of persons employed by the company during the year amounted to
6
(2016:
8
).
5.
Intangible assets
Goodwill |
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£ |
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Cost |
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At 6th November 2016 and 5th November 2017 |
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Amortisation |
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At 6th November 2016 |
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Charge for the year |
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At 5th November 2017 |
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Carrying amount |
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At 5th November 2017 |
– |
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At 5th November 2016 |
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6.
Tangible assets
Solar panels |
Plant and machinery |
Fixtures and fittings |
Motor vehicles |
Total |
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£ |
£ |
£ |
£ |
£ |
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Cost |
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At 6th November 2016 and 5th November 2017 |
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Depreciation |
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At 6th November 2016 |
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Charge for the year |
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At 5th November 2017 |
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Carrying amount |
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At 5th November 2017 |
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At 5th November 2016 |
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7.
Investments
Shares in participating interests |
Other investments other than loans |
Total |
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£ |
£ |
£ |
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Cost |
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At 6th November 2016 and 5th November 2017 |
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Impairment |
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At 6th November 2016 and 5th November 2017 |
– |
– |
– |
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Carrying amount |
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At 5th November 2017 |
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At 5th November 2016 |
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Investments are included at cost. Profits and losses arising from disposals of fixed asset investments are treated as part of the result from ordinary activities.
8.
Debtors
2017 |
2016 |
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£ |
£ |
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Prepayments and accrued income |
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Corporation tax repayable |
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Other debtors |
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– |
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9.
Creditors:
amounts falling due within one year
2017 |
2016 |
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£ |
£ |
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Trade creditors |
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Accruals and deferred income |
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Social security and other taxes |
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Director loan accounts |
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Event control |
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Other creditors |
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10.
Called up share capital
Authorised share capital
2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
100 |
100 |
100 |
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Issued, called up and fully paid
2017 |
2016 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
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11.
Director's advances, credits and guarantees
As at the 5th November 2017, the company owed
K S Hull
£ 11,985
(2016 - £ 36,069
).
12.
Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 6th November 2015.
No transitional adjustments were required in equity or profit or loss for the year.