BUSINESS_OF_CULTURE_LIMIT - Accounts

BUSINESS OF CULTURE LIMITED - Company Information

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Company Registration No. 04533979 (England and Wales)

BUSINESS OF CULTURE LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

BUSINESS OF CULTURE LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BUSINESS OF CULTURE LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

3,692

4,921

Current assets

Debtors

4,620

17,443

Cash at bank and in hand

488

2,347

5,108

19,790

Creditors: amounts falling due within one year

(26,563)

(41,300)

Net current liabilities

(21,455)

(21,510)

Total assets less current liabilities

(17,763)

(16,589)

Capital and reserves

Called up share capital

150

Profit and loss account

(17,913)

(16,739)

Shareholders' funds

(17,763)

(16,589)

For the financial year ended 30 September 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 financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 23 June 2017

Mr G Jennings

Director

Company Registration No. 04533979

BUSINESS OF CULTURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis even though the company has net liabilities of £17,763. The validity of the going concern concept is dependent on the continuing support of the company's bankers and the company's director. The director believes that the going concern concept is applicable as he believes that the company will be able to meet its debts as and when they fall .

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 represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

25% Reducing Balance

Fixed assets

Tangible assets

Cost

At 1 October 2015 & at 30 September 2016

30,483

Depreciation

At 1 October 2015

25,561

Charge for the year

1,230

At 30 September 2016

26,791

Net book value

At 30 September 2016

3,692

At 30 September 2015

4,921

Share capital

2016

2015

Allotted, called up and fully paid

150 Ordinary Shares of £1 each

150

BUSINESS OF CULTURE LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2016

- 3 -

Ultimate parent company

The Company was under the control of Mr. G Jennings by virtue of his majority shareholding in the Company.