Company Registration No. 05256803 (England and Wales)
BAZZOO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
PAGES FOR FILING WITH REGISTRAR
BAZZOO LIMITED
COMPANY INFORMATION
Director
Mr Vivian Fountain
Secretary
Mrs L C Fountain
Company number
05256803
Registered office
18 Church Street
Sutton-On-Trent
Newark
Nottinghamshire
NG23 6PD
Accountants
K J Eaton & Co (Accountants) Ltd
Edwinstowe House
Centre for Business Excellence
Edwinstowe
Mansfield
Nottinghamshire
NG21 9PR
BAZZOO LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
BAZZOO LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2016
31 December 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
3
7,014
5,544
Current assets
Debtors
4
40,658
33,448
Cash at bank and in hand
100,613
102,484
141,271
135,932
Creditors: amounts falling due within one year
5
(38,228)
(37,494)
Net current assets
103,043
98,438
Total assets less current liabilities
110,057
103,982
Provisions for liabilities
(1,403)
(1,109)
Net assets
108,654
102,873
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
108,554
102,773
Total equity
108,654
102,873
The director of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
BAZZOO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2016
31 December 2016
- 2 -
For the financial year ended 31 December 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.
-
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 financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and signed by the director and authorised for issue on 15 August 2017
Mr Vivian Fountain
Director
Company Registration No. 05256803
BAZZOO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2016
- 3 -
1
Accounting policies
Company information
Bazzoo Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
18 Church Street, Sutton-On-Trent, Newark, Nottinghamshire, NG23 6PD.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents the total amount receivable during the year, for graphic design services, by the company in the ordinary course of business excluding value added tax and trade discounts.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
25% and 20% straight line basis
Computer equipment and cameras
33% and 25% straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.4
Impairment of fixed assets
The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect, if any change, is accounted for prospectively.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
BAZZOO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
1.6
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 5 (2015 - 5).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2016
27,292
Additions
4,299
Disposals
(7,460)
At 31 December 2016
24,131
Depreciation and impairment
At 1 January 2016
21,748
Depreciation charged in the year
2,829
Eliminated in respect of disposals
(7,460)
At 31 December 2016
17,117
Carrying amount
At 31 December 2016
7,014
At 31 December 2015
5,544
4
Debtors
2016
2015
Amounts falling due within one year:
£
£
Trade debtors
40,102
27,762
Other debtors
556
5,686
40,658
33,448
BAZZOO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2016
- 5 -
5
Creditors: amounts falling due within one year
2016
2015
£
£
Trade creditors
14,919
9,237
Corporation tax
10,141
12,352
Other taxation and social security
10,954
8,056
Other creditors
2,214
7,849
38,228
37,494
6
Provisions for liabilities
2016
2015
£
£
Deferred tax liabilities
1,403
1,109
1,403
1,109
7
Called up share capital
2016
2015
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
8
Directors' transactions
Dividends totalling £34,000 (2015 - £33,600) were paid in the year in respect of shares held by the company's directors.
The company has paid the director, Mr V J Fountain, £2,715 (2015 - £1,080) for office light and heat.