Company Registration No. 06373563 (England and Wales)
Biofarben Limited
Unaudited Abbreviated Financial Statements
For The Year Ended 31 December 2015
BIOFARBEN LIMITED
Biofarben Limited
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BIOFARBEN LIMITED FOR THE YEAR ENDED 31 DECEMBER 2015
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The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of BioFarben Limited for the year ended 31 December 2015 set out on pages to 4 from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the
Association of
Chartered
Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com/.
This report is made solely to the Board of Directors of BioFarben Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of BioFarben Limited and state those matters that we have agreed to state to the Board of Directors of BioFarben Limited, as a body, in this report in accordance with
the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163
. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than BioFarben Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that BioFarben Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of BioFarben Limited. You consider that BioFarben Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of BioFarben Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Clark Howes Accountants Limited
Chartered Certified Accountants
20 April 2016
2 Minton Place
Victoria Road
Bicester
Oxfordshire
OX26 6QB
BIOFARBEN LIMITED
Biofarben Limited
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
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2015
2014
Notes
£
£
£
£
Current assets
Debtors
2
980
2,390
Cash at bank and in hand
199
578
1,179
2,968
Creditors: amounts falling due within one year
(7,689)
(8,089)
Total assets less current liabilities
(6,510)
(5,121)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(6,610)
(5,221)
Shareholders' funds
(6,510)
(5,121)
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 20 April 2016
Mr A Lohmann
Director
Company Registration No. 06373563
BIOFARBEN LIMITED
Biofarben Limited
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
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1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
The accounts have been prepared under the going concern concept; the directors has confirmed that they will continue to support the company for a period of 12 months after the date of signing the financial statements.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.4
Deferred taxation
Deferred taxation
is calculated on an un-discounted basis at the tax rates that are expected to apply in the periods when the timing differences will reverse.
1.5
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to
P
rofit and
L
oss
A
ccount.
2
Debtors
Debtors include an amount of £0 (2014 - £378) which is due after more than one year.
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
BIOFARBEN LIMITED
Biofarben Limited
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
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4
Related party relationships and transactions
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
A Lohmann
-
1,513
-
-
1,400
113
1,513
-
-
1,400
113