REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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THIS IS COUNTER CULTURE LTD |
REGISTERED NUMBER:
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ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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FOR |
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THIS IS COUNTER CULTURE LTD |
THIS IS COUNTER CULTURE LTD (REGISTERED NUMBER: 07614516) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
for the year ended 30 September 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
THIS IS COUNTER CULTURE LTD |
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COMPANY INFORMATION |
for the year ended 30 September 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
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BANKERS: |
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SOLICITORS: |
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THIS IS COUNTER CULTURE LTD (REGISTERED NUMBER: 07614516) |
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ABBREVIATED BALANCE SHEET |
30 September 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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( |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account | ( |
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SHAREHOLDERS' FUNDS | ( |
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The directors acknowledge their responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the Board of Directors on
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THIS IS COUNTER CULTURE LTD (REGISTERED NUMBER: 07614516) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
for the year ended 30 September 2016 |
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1. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
The company meets its day to day working capital requirements though a loan from Mr Michael Baldwin who is |
a shareholder of the company. Mr Baldwin will continue to support the company until sufficient profitability is |
achieved and on this basis the Directors consider it appropriate to prepare the accounts on a going concern basis. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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Stocks |
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
for obsolete and slow moving items. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the |
balance sheet date. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
THIS IS COUNTER CULTURE LTD (REGISTERED NUMBER: 07614516) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
for the year ended 30 September 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 October 2015 |
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Disposals | ( |
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At 30 September 2016 |
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DEPRECIATION |
At 1 October 2015 |
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Eliminated on disposal | ( |
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At 30 September 2016 |
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NET BOOK VALUE |
At 30 September 2016 |
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At 30 September 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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4. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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As at the balance sheet date the loan due to the company by Ms Emily Farnworth and Mr Callum Grieve |
amounted to nil (2015: £nil) and £21,962 (2015: £nil) respectively. The maximum balance due to the company |
by Ms Emily Farnworth and Mr Callum Grieve during the year was £1,650 (2015: £1,650) and £21,962 (2015: |
£5,721) respectively. |