Company Registration No. 06002014 (England and Wales)
BITE EVENTS LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
BITE EVENTS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
BITE EVENTS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
133,791
158,246
Current assets
Debtors
8,055
9,419
Cash at bank and in hand
1,004
4
9,059
9,423
Creditors: amounts falling due within one year
(43,143)
(46,448)
Net current liabilities
(34,084)
(37,025)
Total assets less current liabilities
99,707
121,221
Creditors: amounts falling due after more than one year
(9,350)
(9,350)
Provisions for liabilities
(16,080)
(17,262)
74,277
94,609
Capital and reserves
Called up share capital
3
200
200
Share premium account
24,966
24,966
Revaluation reserve
48,694
68,552
Profit and loss account
417
891
Shareholders' funds
74,277
94,609
BITE EVENTS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2016
31 January 2016
- 2 -
For the financial year ended 31 January 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 31 October 2016
Mr G Ingram
Director
Company Registration No. 06002014
BITE EVENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention modified to include the revaluation of tableware and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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. Turnover from the hire of tableware and event management is recognised at the time the service is rendered to the customer.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:
Tableware
15% reducing balance
Fixtures and fittings
10 - 15% reducing balance
Motor vehicles
20% reducing balance
The part of the annual depreciation charge on revalued assets which relates to the revaluation surplus is transferred from the revaluation reserve to the profit and loss account.
The company has adopted a policy of revaluing tableware at replacement cost as this was felt to provide a fairer view of the value of the tableware available for hire by enabling breakages and replacements to be accounted for.
1.5
Leasing and hire purchase commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
BITE EVENTS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 4 -
2
Fixed assets
Tangible assets
£
Cost or valuation
At 1 February 2015
204,345
Additions
10,676
Revaluation
(35,662)
At 31 January 2016
179,359
Depreciation
At 1 February 2015
46,099
Revaluation
(24,397)
Charge for the year
23,866
At 31 January 2016
45,568
Net book value
At 31 January 2016
133,791
At 31 January 2015
158,246
At the year end the Director revalued tableware at its replacement cost using the standard prices provided to customers for breakages.
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
200 Ordinary shares of £1 each
200
200