Statement of Consent to Prepare Abridged Financial Statements
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All of the members of Balito Consulting Limited have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
05137002
Balito Consulting Limited
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Filleted Unaudited Abridged Financial Statements
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Balito Consulting Limited
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Abridged Financial Statements
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Year ended 31 December 2016
Officers and professional advisers
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1
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Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements
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2
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Abridged statement of financial position
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3
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Notes to the abridged financial statements
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4
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Balito Consulting Limited
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Balito Consulting Limited
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Year ended 31 December 2016
As described on the abridged statement of financial position, the directors of the company are responsible for the preparation of the abridged financial statements for the year ended 31 December 2016, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Sable Accounting Limited
Chartered accountant
77-91 New Oxford Street
London
UK
WC1A 1DG
21 July 2017
Balito Consulting Limited
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Abridged Statement of Financial Position
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31 December 2016
Current assets
Debtors
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15,636
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13,436
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Cash at bank and in hand
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53,345
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34,173
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--------
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--------
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68,981
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47,609
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Creditors: amounts falling due within one year
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68,348
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47,131
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Net current assets
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633
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478
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----
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Total assets less current liabilities
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633
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478
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Net assets
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633
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478
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----
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----
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Capital and reserves
Called up share capital
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1
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1
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Profit and loss account
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632
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477
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Members funds
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633
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478
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These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
21 July 2017
, and are signed on behalf of the board by:
Mr R J B Diviani
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Director
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Company registration number:
05137002
Balito Consulting Limited
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Notes to the Abridged Financial Statements
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Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in . The address of the registered office is Castlewood House, 77-91 New Oxford Street, London, WC1A 1DG.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
The financial statements have been prepared on a going concern basis. The company has net current liabilities at year end and is dependent on the shareholders for continued financial support. The shareholders have confirmed to the directors its intention to continue to provide funding to enable the company to meet its liabilities as they fall due to foreseeable future.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
4.
Employee numbers
The average number of persons employed by the company during the year, including the directors, amounted to Nil
(2015: Nil).
5.
Related party transactions
The company is controlled by Mr R J B Diviani, who controls 100% of the issued share capital. Mr R J B Diviani is the managing director and sole shareholder. At the end of the year the company owed £27,524 (2015: 5,524) to the Directors of Balito Consulting Ltd.
6.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.
No transitional adjustments were required in equity or profit or loss for the period.