Company Registration No. 08015683 (England and Wales)
PRINTBAR LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
PRINTBAR LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
PRINTBAR LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PRINTBAR LIMITED FOR THE YEAR ENDED 30 APRIL 2016
- 1 -
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 Printbar Limited for the year ended 30 April 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Printbar 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 Printbar Limited and state those matters that we have agreed to state to the Board of Directors of Printbar Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Printbar Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Printbar 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 profit of Printbar Limited. You consider that Printbar 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 Printbar 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.
Carpenter Box
31 January 2017
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
PRINTBAR LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
15,000
17,500
Tangible assets
2
278
903
15,278
18,403
Current assets
Debtors
10,027
8,788
Cash at bank and in hand
3,016
2,496
13,043
11,284
Creditors: amounts falling due within one year
(43,850)
(36,709)
Net current liabilities
(30,807)
(25,425)
Total assets less current liabilities
(15,529)
(7,022)
Provisions for liabilities
(56)
(181)
(15,585)
(7,203)
Capital and reserves
Called up share capital
3
10
10
Profit and loss account
(15,595)
(7,213)
Shareholders' funds
(15,585)
(7,203)
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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;
-
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 30 January 2017
Mr R Hardiman
Director
Company Registration No. 08015683
PRINTBAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
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 financial statements have been prepared on a going concern basis, the director considers this to be appropriate, but the company is dependent on the continuing support of the director. The financial statements do not include any adjustment that would result from a withdrawal of support.
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 10 years .
of 10 years
.
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
33.33% per annum on a straight line basis
1.5
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.
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015 & at 30 April 2016
25,000
1,873
26,873
Depreciation
At 1 May 2015
7,500
971
8,471
Charge for the period
2,500
624
3,124
At 30 April 2016
10,000
1,595
11,595
Net book value
At 30 April 2016
15,000
278
15,278
At 30 April 2015
17,500
903
18,403
PRINTBAR LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
10 Ordinary shares of £1 each
10
10