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FOR THE YEAR ENDED 30 NOVEMBER 2016
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Company Registration No. 07449288 (England and Wales)
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B LIVING LIMITED
REGISTERED NUMBER: 07449288
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ABBREVIATED BALANCE SHEET
AS AT 30 NOVEMBER 2016
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Creditors: amounts falling due within one year
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Net current assets/(liabilities)
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Shareholders' (deficit)/funds
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The director considers that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 November 2016 and of its loss for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
1
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ABBREVIATED BALANCE SHEET (continued)
AS AT 30 NOVEMBER 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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B Millar
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The notes on pages 3 to 4 form part of these financial statements.
2
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
1.Accounting Policies
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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At the balance sheet date, liabilities exceed assets by £8,053 (2015 - £nil). However, the financial statements have been prepared on a going concern basis as the company has the continuing support from its director and shareholder, B Millar. The director is therefore satisfied that the financial statements have been correctly prepared on the going concern basis.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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33.33% straight line basis
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2.Tangible fixed assets
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At 1 December 2015 and 30 November 2016
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3
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
3.Share capital
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Allotted, called up and fully paid
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100 Ordinary shares of £1 each
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4.Related party transactions
During the year B Millar, a director of the company repaid the company £36,386 (2015 - £nil) and made payments on behalf of the company totalling £11,890 (2015 - £7,755). The company made payments to the director totalling £48,671 (2015 - £43,350) and paid expenses totalling £5,730 (2015 - £5,415) on behalf of the director. B Millar was paid dividends during the year totalling £7,000 (2015 - £24,000). As at the balance sheet date B Millar owed the sum of £5,871 to the company (2015 - £6,746).
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