REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2016 |
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BUSBY AUCTIONS LTD |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JULY 2016 |
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FOR |
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BUSBY AUCTIONS LTD |
BUSBY AUCTIONS LTD (REGISTERED NUMBER: 08642644) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2016 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 | to | 4 |
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BUSBY AUCTIONS LTD |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST JULY 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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BUSBY AUCTIONS LTD (REGISTERED NUMBER: 08642644) |
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BALANCE SHEET |
31ST JULY 2016 |
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2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 2 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 3 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Profit and loss account | 5 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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. |
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The financial statements were approved by the director on
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BUSBY AUCTIONS LTD (REGISTERED NUMBER: 08642644) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST JULY 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Going concern |
The historical cost convention has been used on the basis of the Director having expressed his commitment to |
continue financially supporting the company. |
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2. | DEBTORS |
2016 | 2015 |
£ | £ |
Amounts falling due within one year: |
Other debtors |
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Prepayments |
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Amounts falling due after more than one year: |
Trade debtors |
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Aggregate amounts |
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3. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade creditors |
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Social security and other taxes |
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Other creditors |
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Directors Account |
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary shares | £1 |
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BUSBY AUCTIONS LTD (REGISTERED NUMBER: 08642644) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST JULY 2016 |
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5. | RESERVES |
Profit |
and loss |
account |
£ |
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At 1st August 2015 | ( |
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Profit for the year |
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At 31st July 2016 | ( |
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6. | RELATED PARTY DISCLOSURES |
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The company was controlled during the year by the director, who is the sole shareholder. |
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Rent of £8,400 (2015: £8,400) was paid to Busby & Busby Ltd. Busby & Busby Ltd is owned by Mr Hugo |
Busby a director of Busby Auctions Ltd. |
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The Director has a loan account with the company and is owed £105,242 (2015: £96,768) which is included in |
creditors. |