Company Registration No. 08403989 (England and Wales)
CANNONBALL EVENTS LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2016
CANNONBALL EVENTS LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
CANNONBALL EVENTS LTD
ABBREVIATED BALANCE SHEET
AS AT
28 FEBRUARY 2016
28 February 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
35,546
19,173
Current assets
Stocks
4,238
-
Debtors
1,132
-
Investments
-
(1,500)
Cash at bank and in hand
2,577
2,376
7,947
876
Creditors: amounts falling due within one year
(41,714)
(15,947)
Net current liabilities
(33,767)
(15,071)
Total assets less current liabilities
1,779
4,102
Creditors: amounts falling due after more than one year
(10,030)
(12,670)
(8,251)
(8,568)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(8,351)
(8,668)
Shareholders' funds
(8,251)
(8,568)
For the financial year ended 28 February 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 4 August 2016
Mr J Lloyd
Director
Company Registration No. 08403989
CANNONBALL EVENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 28 FEBRUARY 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:
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
Motor vehicles
25% reducing balance
1.5
Investments
Current asset investments are stated at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 March 2015
33,616
Additions
22,645
At 28 February 2016
56,261
Depreciation
At 1 March 2015
14,443
Charge for the year
6,272
At 28 February 2016
20,715
Net book value
At 28 February 2016
35,546
At 28 February 2015
19,173
CANNONBALL EVENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100