The Business Finance Company Limited
|
For the year ended 30 September 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05227124
The Business Finance Company Limited
For the year ended 30 September 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
The Business Finance Company Limited
Accountants' Report
For the year ended 30 September 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year
|
ended
30
September
2016
and you consider that the company is exempt from an audit under the Companies Act
|
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
Paul Dollins Accountants
Certified Public Accountants
3A Laburnum Row
Torre
Torquay
TQ2 7DA
1 of 4
Abbreviated Balance Sheet
|
The Business Finance Company Limited
2016
2015
2
1,190
1,586
1,190
1,586
57,709
46,746
57,709
46,746
Creditors
:
amounts falling due within one year
|
(18,750)
(26,348)
27,996
31,361
Net current assets
Total assets less current liabilities
|
32,551
29,582
(36)
(80)
Provisions for liabilities
|
32,515
Net assets
29,502
100
3
100
32,415
29,402
32,515
29,502
Shareholders funds
For the year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
|
Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
|
2) The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
|
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
|
Date approved by the board: 09 November 2016
|
Signed on behalf of the board of directors
|
2 of 4
Notes to the Abbreviated Financial Statements
|
The Business Finance Company Limited
For the year ended 30 September 2016
Turnover represents amounts receivable for services. Amounts receivable for services performed over time are based upon the stage of completion of the services performed.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Planning and operating costs for the company's website are charged to the profit and loss account as incurred.
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Fixtures and Fittings
Assets on finance lease and hire purchase
|
Assets held under finance lease or hire purchase contracts i
.
e
.
those contracts where substantially all the risks and
|
rewards of ownership have passed to the company
,
are included in the appropriate category of tangible fixed assets
|
and depreciated over the shorter of the lease term and their estimated expected useful lives
.
|
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods
.
|
3 of 4
Notes to the Abbreviated Financial Statements
|
The Business Finance Company Limited
For the year ended 30 September 2016
16,420
16,420
14,834
396
Charge for year
15,230
1,190
1,586
Allotted called up and fully paid
|
2016
2015
100
Ordinary shares of £
1
.
00
each
|
100
100
100
100
4 of 4