Company Registration No. 07011298 (England and Wales)
BADU SPORTS (BROADEN. ADVANCE. DEVELOP. UNDERSTAND) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
BADU SPORTS (BROADEN. ADVANCE. DEVELOP. UNDERSTAND) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BADU SPORTS (BROADEN. ADVANCE. DEVELOP. UNDERSTAND) LTD
ABBREVIATED BALANCE SHEET
AS AT
30 SEPTEMBER 2015
30 September 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,217
5,842
Current assets
Debtors
132,911
40,717
Cash at bank and in hand
91,876
33,396
224,787
74,113
Creditors: amounts falling due within one year
(213,021)
(70,909)
Net current assets
11,766
3,204
Total assets less current liabilities
16,983
9,046
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
16,883
8,946
Shareholder's funds
16,983
9,046
For the financial year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his 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 29 June 2016
Mr N Badu
Director
Company Registration No. 07011298
BADU SPORTS (BROADEN. ADVANCE. DEVELOP. UNDERSTAND) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 2 -
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 April 2008).
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
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
1.5
The company has created a trust whose beneficiaries will include employees of the Company and their dependents. Assets held under this trust will be controlled by the trustees who will be acting independently and entirely at their own discretion.
Where assets are held in the trust and these are considered by the Company to be in respect of services already provided by employees to the Company, the Company will account for these as assets of the trust when payment is made to the trust. The value transferred will be charged in the Company's profit and loss account for the year to which it relates.
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2014 & at 30 September 2015
15,140
Depreciation
At 1 October 2014 & at 30 September 2015
9,923
Net book value
At 30 September 2015
5,217
At 30 September 2014
5,842
BADU SPORTS (BROADEN. ADVANCE. DEVELOP. UNDERSTAND) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100