Company Registration No. 06423079 (England and Wales)
B Jet Interiors Ltd
Unaudited Abbreviated Financial Statements
For The Year Ended 31 March 2016
B Jet Interiors Ltd
Contents
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
B Jet Interiors Ltd
Abbreviated Balance Sheet
As At 31 March 2016
Page 1
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
8,750
9,500
Tangible assets
2
2,911
3,764
11,661
13,264
Current assets
Debtors
4,935
4,815
Cash at bank and in hand
167,261
96,303
172,196
101,118
Creditors: amounts falling due within one year
(66,939)
(63,536)
Net current assets
105,257
37,582
Total assets less current liabilities
116,918
50,846
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
116,916
50,844
Shareholders' funds
116,918
50,846
For the financial year ended 31 March 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 11 June 2016
Mr C D Barnes
Director
Company Registration No. 06423079
B Jet Interiors Ltd
Notes To The Abbreviated Accounts
For The Year Ended 31 March 2016
Page 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. Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
Turnover is recognised when goods are physically delivered to the customer and the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.
Where a contract has only been partially completed at the balance sheet date turnover represents the value of the services provided to the date based on a proportion of the total expected consideration at completion. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.
1.5
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:
Plant and machinery
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
B Jet Interiors Ltd
Notes To The Abbreviated Accounts (Continued)
For The Year Ended 31 March 2016
Page 3
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
15,000
10,244
25,244
Additions
-
104
104
At 31 March 2016
15,000
10,348
25,348
Depreciation
At 1 April 2015
5,500
6,481
11,981
Charge for the year
750
956
1,706
At 31 March 2016
6,250
7,437
13,687
Net book value
At 31 March 2016
8,750
2,911
11,661
At 31 March 2015
9,500
3,764
13,264
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Related party relationships and transactions
Loan from Director
The following directors
made
interest free loans during the year. The movement on these loans are as follows:
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mr C D Barnes -
-
43,507
-
5,177
38,330
43,507
-
-
5,177
38,330