Accounts filed on 31-05-2016

Accounts filed on 31-05-2016

10 EIGHTY LIMITED - Company Information

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10 EIGHTY LIMITED

Company Registration Number:
07878179 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 June 2015

End date: 31 May 2016

10 EIGHTY LIMITED

Abbreviated Balance sheet

As at 31 May 2016


Notes
2016
£
2015
£
Fixed assets
Intangible assets: 2 21,663 10,242
Tangible assets: 3 791 1,615
Total fixed assets: 22,454 11,857
Current assets
Debtors: 285,829 169,071
Cash at bank and in hand: 115,797 91,866
Total current assets: 401,626 260,937
Creditors: amounts falling due within one year: ( 272,421 ) ( 211,304 )
Net current assets (liabilities): 129,205 49,633
Total assets less current liabilities: 151,659 61,490
Total net assets (liabilities): 151,659 61,490

The notes form part of these financial statements

10 EIGHTY LIMITED

Balance sheet continued

As at 31 May 2016


Notes
2016
£
2015
£
Capital and reserves
Called up share capital: 4 111,560 51,560
Profit and loss account: 40,099 9,930
Shareholders funds: 151,659 61,490

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities 2015.

The financial statements were approved by the Board of Directors on 20 October 2016

SIGNED ON BEHALF OF THE BOARD BY:

Name: Nicholas Lawson
Status: Director

The notes form part of these financial statements

10 EIGHTY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

    Turnover policy

    The turnover shown in the profit and loss account represents revenues recognised by the company in respect of goods and services supplied during the year, exclusive of VAT and trade discounts.

    Tangible fixed assets depreciation policy

    Depreciation is provided in equal monthly installments in order to write off the cost of each asset over its estimated useful life of three years.

    Intangible fixed assets amortisation policy

    Investments are carried at cost with provision being made for any permanent impairment in value.

10 EIGHTY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 2. Intangible assets

    Total
    Cost £
    01 June 2015: 10,242
    Additions: 11,421
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 May 2016: 21,663
    Amortisation
    01 June 2015: 0
    Provided during the period: 0
    On disposals: 0
    Other Adjustments: 0
    31 May 2016: 0
    Net book value
    31 May 2016: 21,663
    31 May 2015: 10,242

10 EIGHTY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 3. Tangible assets

    Total
    Cost £
    01 June 2015: 7,356
    Additions: 609
    Disposals: 0
    Revaluations: 0
    Transfers: 0
    31 May 2016: 7,965
    Depreciation
    01 June 2015: 5,741
    Charge for year: 1,433
    On disposals: 0
    Other adjustments: 0
    31 May 2016: 7,174
    Net book value
    31 May 2016: 791
    31 May 2015: 1,615

10 EIGHTY LIMITED

Notes to the Abbreviated Accounts

for the Period Ended 31 May 2016

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 51,560.00 51,560
    Preference shares: 0
    Total share capital (£): 51,560
    Current period
    2016
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 1 111,560.00 111,560
    Preference shares: 0
    Total share capital (£): 111,560

    During the year 192,000 ordinary £0.001 shares were issued at £0.3125 per share, bringing the total number of ordinary £0.001 shares in issue to 1,792,000.