Business Debt Advice Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07914355 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2018

FOR

BUSINESS DEBT ADVICE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Director:

Mr A B Fisher

Registered office:

Skull House Lane

Appley Bridge

Wigan

Lancashire

WN6 9DW

Registered number:

07914355 (England and Wales)

Accountants:

NR Barton

19-21 Bridgeman Terrace

Wigan

Lancashire

WN1 1TD

FIXED ASSETS

Intangible assets

3

20,000

25,000

Tangible assets

4

1,279

1,598

21,279

26,598

CURRENT ASSETS

Debtors

5

100

100

Cash at bank

610

1,448

710

1,548

CREDITORS

Amounts falling due within one year

6

52,022

59,651

NET CURRENT LIABILITIES

(51,312

)

(58,103

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,033

)

(31,505

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

(30,133

)

(31,605

)

SHAREHOLDERS' FUNDS

(30,033

)

(31,505

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2018 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 16 August 2018 and were signed by:

Mr A B Fisher - Director

1.	STATUTORY INFORMATION

Business Debt Advice 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

20% 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.

3.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2017

and 31 January 2018

50,000

AMORTISATION

At 1 February 2017

25,000

Amortisation for year

5,000

At 31 January 2018

30,000

NET BOOK VALUE

At 31 January 2018

20,000

At 31 January 2017

25,000

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2017

and 31 January 2018

3,900

DEPRECIATION

At 1 February 2017

2,302

Charge for year

319

At 31 January 2018

2,621

NET BOOK VALUE

At 31 January 2018

1,279

At 31 January 2017

1,598

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other debtors

100

100

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Other creditors

52,022

59,651

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.18

31.1.17

value:

£

£

100

Ordinary

£1

100

100

8.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr A B Fisher.

The ultimate controlling party is Focus Insolvency Group Limited..