Company Registration No. 05455129 (England and Wales)
CITY BUSINESS BROKERS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2016
CITY BUSINESS BROKERS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CITY BUSINESS BROKERS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
26
35
Current assets
Debtors
38,974
37,209
Cash at bank and in hand
8,021
10,151
46,995
47,360
Creditors: amounts falling due within one year
(46,256)
(48,503)
Net current assets/(liabilities)
739
(1,143)
Total assets less current liabilities
765
(1,108)
Provisions for liabilities
(7)
(7)
758
(1,115)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
756
(1,117)
Shareholders' funds
758
(1,115)
For the financial year ended 31 May 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.
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 24 February 2017
Mr K Stokes
Director
Company Registration No. 05455129
CITY BUSINESS BROKERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 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
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2015 & at 31 May 2016
426
Depreciation
At 1 June 2015
391
Charge for the year
9
At 31 May 2016
400
Net book value
At 31 May 2016
26
At 31 May 2015
35
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 of £1 each
2
2
4
Related party relationships and transactions
CITY BUSINESS BROKERS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2016
4
Related party relationships and transactions
(Continued)
- 3 -
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Loan
3.00
33,956
-
968
3,358
31,566
33,956
-
968
3,358
31,566