Banjimak Consulting Limited Small abbreviated accounts

Banjimak Consulting Limited Small abbreviated accounts


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COMPANY REGISTRATION NUMBER 08515273
BANJIMAK CONSULTING LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
31 May 2016
STEWART ASSOCIATES SHREWSBURY LTD
Chartered Accountants
Emstrey House (North)
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
BANJIMAK CONSULTING LIMITED
ABBREVIATED BALANCE SHEET
31 May 2016
2016
2015
Note
£
£
£
£
Fixed Assets
2
Tangible assets
637
156
Current Assets
Debtors
16,091
13,943
Cash at bank and in hand
10,622
2,322
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---------
26,713
16,265
Creditors: Amounts Falling due Within One Year
26,570
16,179
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---------
Net Current Assets
143
86
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Total Assets Less Current Liabilities
780
242
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Capital and Reserves
Called up equity share capital
4
100
100
Profit and loss account
680
142
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----
Shareholders' Funds
780
242
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For the year ended 31st May 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 accounts for the year in question in accordance with section 476; and
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved and signed by the director and authorised for issue on 28 February 2017 .
Mr O Makanjuola
Company Registration Number: 08515273
BANJIMAK CONSULTING LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 31st MAY 2016
1. Accounting Policies
Basis of Accounting
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
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Fixed Assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings-33.33% straight line
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
2. Fixed Assets
Tangible Assets
£
Cost
At 1st June 2015
500
Additions
900
-------
At 31st May 2016
1,400
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Depreciation
At 1st June 2015
344
Charge for year
419
----
At 31st May 2016
763
----
Net Book Value
At 31st May 2016
637
----
At 31st May 2015
156
----
3. Transactions With the Director
The following loan to/(from) the director subsisted during the year ended 31st May 2016 and 31st May 2015.
Mr O Makanjuola
2016
2015
£
£
Balance outstanding at start of year
3,715
194
Amounts advanced
42,232
37,909
Amounts repaid
34,800
34,000
---------
---------
Balance outstanding at end of year
11,147
3,715
---------
---------
Interest has been charged on the loan at a rate of 3% and is repayable upon demand.
4. Share Capital
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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