BRIGHT_RED_PUBLISHING_LIM - Accounts
BRIGHT_RED_PUBLISHING_LIM - Accounts
Company Registration No. SC325561 (Scotland)
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
Current assets
Stocks
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
(292,569 )
(386,395 )
Net current liabilities
(103,173 )
(114,906 )
Total assets less current liabilities
(103,173 )
(114,800 )
Creditors: amounts falling due after more than one year
3
(25,463 )
(55,766 )
(128,636)
(170,566)
Capital and reserves
Called up share capital
4
Share premium account
Profit and loss account
(278,644 )
(320,574 )
Shareholders' funds
(128,636 )
(170,566 )
Directors' responsibilities:
-
-
Approved by the Board for issue on 13 December 2016
Director
Company Registration No. SC325561
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The company meets its day to day working capital requirements through a bank loan facility which is repayable on demand and the support of its directors. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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 consists entirely of sales made in the United Kingdom.
1.4
Tangible fixed assets and depreciation
Computer equipment
Fixtures, fittings & equipment
1.5
Stock
Stock is valued at the lower of cost and net realisable value.
Obsolete stock totalling £36,364 was written off in the year ended 31 March 2016. (2015: £110,635)
1.6
Revenue recognition
Revenue from the sale of books is recognised at the point of sale.
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
10,279
Depreciation
At 1 April 2015
10,172
Charge for the year
107
At 31 March 2016
10,279
Net book value
At 31 March 2016
-
At 31 March 2015
106
3
Creditors: amounts falling due after more than one year
The aggregate amount of creditors for which security has been given amounted to £0 (2015 - £86,069).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid