Background Trading Limited - Abbreviated accounts

BACKGROUND TRADING LIMITED - Company Information

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Registered number

09714577

Background Trading Limited

Abbreviated Accounts

31 August 2016

AGK Partners

Chartered Accountants

Background Trading Limited				Registered number
				09714577
Abbreviated Balance Sheet
as at 31 August 2016

Notes			2016
£
Fixed assets
Intangible assets	2		806
Tangible assets	3		88,015
			88,821

Current assets
Stocks		11,983
Debtors		61,178
Cash at bank and in hand		101,523
		174,684

Creditors: amounts falling due within one year		(182,299)

Net current liabilities			(7,615)

Net assets			81,206

Capital and reserves
Called up share capital	4		100
Profit and loss account			81,106

Shareholders' funds			81,206

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Approved by the board on 8 February 2017




Mr J Rule
Director

Background Trading Limited
Notes to the Abbreviated Accounts
for the period ended 31 August 2016

1	Accounting policies

	Basis of preparation
	The accounts 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 the value, net of value added tax and discounts, in respect of goods and services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			25% on reducing balance
	Fixtures and fittings			25% on reducing balance
	Leasehold additions			Over the terms of the lease

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes, provided the amount is material in the context of the Financial Statement as a whole. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.












2	Intangible fixed assets					£

	Cost
	Additions					1,020
	At 31 August 2016					1,020

	Amortisation
	Provided during the period					214
	At 31 August 2016					214

	Net book value
	At 31 August 2016					806


3	Tangible fixed assets					£

	Cost
	Additions					117,667
	At 31 August 2016					117,667

	Depreciation
	Charge for the period					29,652
	At 31 August 2016					29,652

	Net book value
	At 31 August 2016					88,015


4	Share capital	Nominal		2016		2016
value			Number		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100

Nominal			Number		Amount
value			£
	Shares issued during the period:
	Ordinary shares	£1 each		100		100