Company Registration No. SC337052 (Scotland)
BIBALOO LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2016
BIBALOO LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BIBALOO LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 JANUARY 2016
31 January 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,086
3,259
Current assets
Stocks
140,264
179,139
Debtors
13,166
27,126
Cash at bank and in hand
19,640
106
173,070
206,371
Creditors: amounts falling due within one year
(62,282)
(94,208)
Net current assets
110,788
112,163
Total assets less current liabilities
111,874
115,422
Creditors: amounts falling due after more than one year
(149,389)
(101,151)
(37,515)
14,271
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
(37,517)
14,269
Shareholders' funds
(37,515)
14,271
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.
Directors' 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 directors acknowledge their 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 28 October 2016
C V Wright
Director
Company Registration No. SC337052
BIBALOO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 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 supplied during the year net of VAT and trade discounts.
supplied during the year
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
- 33% on cost
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Stocks are valued at the lower of cost and net realisable value.
1.7
The financial statements have been prepared on the going concern basis. The directors of the company have agreed to continue to provide financial support in order for the company to continue trading for the foreseeable future.
1.8
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
BIBALOO LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 February 2015 & at 31 January 2016
9,866
Depreciation
At 1 February 2015
6,607
Charge for the year
2,173
At 31 January 2016
8,780
Net book value
At 31 January 2016
1,086
At 31 January 2015
3,259
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2