The Brain Training Company Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04290170 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 September 2016

for

The Brain Training Company Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

to

4

DIRECTOR:

Mr H R Hopking

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

04290170 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

BANKERS:

National Westminster Bank plc

7 Cornhill

Bury St Edmunds

Suffolk

IP33 1BQ

FIXED ASSETS

Tangible assets

2

1,276

605

CURRENT ASSETS

Debtors

914

3,026

Cash at bank

2,429

520

3,343

3,546

CREDITORS

Amounts falling due within one year

7,534

9,315

NET CURRENT LIABILITIES

(4,191

)

(5,769

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(2,915

)

(5,164

)

CAPITAL AND RESERVES

Called up share capital

3

1

Profit and loss account

(2,916

)

(5,165

)

SHAREHOLDERS' FUNDS

(2,915

)

(5,164

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 June 2017 and were signed by:

Mr H R Hopking - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements - going concern

As at the balance sheet date total liabilities exceed gross assets hence the company is technically insolvent. The

director is of the opinion that this is a temporary position and that the company remains a going concern. He

will continue to financially support the company as required. That being the case, these financial statements

have been drawn up on the going concern basis and no adjustments have been made to reclassify certain

assets that would be required if the company ceased to be a trading entity.

Accounting convention

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

Turnover represents the total value of services provided during the year excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures, fittings and equipment

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax, where relevant. Current or deferred taxation assets

and liabilities are not discounted.

Deferred tax is recognised on timing differences that are likely to result in future tax liabilities or reductions in

tax liabilities.

Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted

or substantively enacted by the balance sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

1,122

Additions

839

At 30 September 2016

1,961

DEPRECIATION

At 1 October 2015

517

Charge for year

168

At 30 September 2016

685

NET BOOK VALUE

At 30 September 2016

1,276

At 30 September 2015

605

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

In 2015 interest of £172 was paid on the loan to the director at HM Revenue and Customs approved rate.