B38 Projects Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 08945716 (England and Wales)

B38 PROJECTS LTD

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J Henderson

P Needham

R Sommerville

REGISTERED OFFICE:

Unit A

Cedar Court Office Park

Denby Dale Road

Wakefield

West Yorkshire

WF4 3DB

REGISTERED NUMBER:

08945716 (England and Wales)

ACCOUNTANTS:

Paramount Accountancy Ltd

Chartered Accountants

Ellerslie House

Queen's Road

Edgerton

Huddersfield

West Yorkshire

HD2 2AG

FIXED ASSETS

Tangible assets

2

72,887

2,427

CURRENT ASSETS

Debtors

323,425

534,617

Cash at bank

244,084

255,284

567,509

789,901

CREDITORS

Amounts falling due within one year

3

(344,035

)

(576,787

)

NET CURRENT ASSETS

223,474

213,114

TOTAL ASSETS LESS CURRENT LIABILITIES

296,361

215,541

CREDITORS

Amounts falling due after more than one year

3

(56,093

)

(37,507

)

PROVISIONS FOR LIABILITIES

-

(485

)

NET ASSETS

240,268

177,549

CAPITAL AND RESERVES

Called up share capital

4

200

200

Profit and loss account

240,068

177,349

SHAREHOLDERS' FUNDS

240,268

177,549

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 1 July 2016 and were signed on its behalf by:

J Henderson - Director

P Needham - Director

R Sommerville - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

Straight line over 3 years

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

4,058

Additions

94,889

Disposals

(1,700

)

At 31 May 2016

97,247

DEPRECIATION

At 1 June 2015

1,631

Charge for year

22,729

At 31 May 2016

24,360

NET BOOK VALUE

At 31 May 2016

72,887

At 31 May 2015

2,427

3.

CREDITORS

Creditors include an amount of £ 70,671 (2015 - £ 44,929 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

75

Ordinary A

£1

75

75

50

Ordinary B

£1

50

50

75

Ordinary C

£1

75

75

200

200

Each share is entitled to one vote in any circumstance, has equal rights to dividend declared for that class of

share and is entitled to participate in a distribution arising from a winding up of the company.