Company Registration No. 09740818 (England and Wales)
CROSSFIT BRAINTREE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2016
LB GROUP
82 East Hill
Colchester
Essex
CO1 2QW
CROSSFIT BRAINTREE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CROSSFIT BRAINTREE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
Notes
£
£
Fixed assets
Tangible assets
2
1,590
Current assets
Debtors
2,037
Cash at bank and in hand
2,439
4,476
Creditors: amounts falling due within one year
(5,918)
Net current liabilities
(1,442)
Total assets less current liabilities
148
Capital and reserves
Called up share capital
3
100
Profit and loss account
48
Shareholders' funds
148
For the financial period ended 31 August 2016 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 period 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 31 March 2017
Mr G Poulter
Director
Company Registration No. 09740818
CROSSFIT BRAINTREE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2016
- 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 January 2015).
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:
Fixtures, fittings & equipment
Straight line over 5 years
1.5
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
2
Fixed assets
Tangible assets
£
Cost
At 19 August 2015
-
Additions
1,988
At 31 August 2016
1,988
Depreciation
At 19 August 2015
-
Charge for the period
398
At 31 August 2016
398
Net book value
At 31 August 2016
1,590
CROSSFIT BRAINTREE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
9
Related party transactions
Throughout the period the company was under the joint control of Mr A Colebrook and Mr G Poulter as directors of the company.
At the period end the company was owed £2,037 by the directors after advances of £16,124 and repayments of £14,087. This amount is interest free and will be repaid within 9 months of the period end.