Company Registration No. 07871423 (England and Wales)
BOOMTOWN FESTIVAL UK LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2015
BOOMTOWN FESTIVAL UK LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BOOMTOWN FESTIVAL UK LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2015
31 October 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
177,334
21,910
Current assets
Debtors
132,136
778,255
Cash at bank and in hand
139,492
735,914
271,628
1,514,169
Creditors: amounts falling due within one year
(371,314)
(868,991)
Net current liabilities/(assets)
(99,686)
645,178
Total assets less current liabilities
77,648
667,088
Capital and reserves
Called up share capital
3
4
4
Profit and loss account
77,644
667,084
Shareholders' funds
77,648
667,088
For the financial year ended 31 October 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 and authorised for issue on 17 July 2016
Mr C Rutherford
Mr LM Mitchell
Director
Director
Company Registration No. 07871423
BOOMTOWN FESTIVAL UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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:
Plant and machinery
Computer equipment
25% Straight Line
Fixtures, fittings & equipment
33% Straight Line
Motor vehicles
25% Straight Line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.7
Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
BOOMTOWN FESTIVAL UK LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2015
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 November 2014
26,907
Additions
207,218
At 31 October 2015
234,125
Depreciation
At 1 November 2014
4,997
Charge for the year
51,794
At 31 October 2015
56,791
Net book value
At 31 October 2015
177,334
At 31 October 2014
21,910
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
4 Ordinary of £1 each
4
4