BUSINESS_FINANCE_SERVICES - Accounts

BUSINESS FINANCE SERVICES LIMITED - Company Information

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Company Registration No. 04377201 (England and Wales)

BUSINESS FINANCE SERVICES LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

BUSINESS FINANCE SERVICES LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

BUSINESS FINANCE SERVICES LIMITED

ABBREVIATED BALANCE SHEET

AS AT

28 FEBRUARY 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

103

137

Investments

3,600

3,703

137

Current assets

Debtors

185

8,976

Cash at bank and in hand

792

2,140

977

11,116

Creditors: amounts falling due within one year

(3,290)

(11,974)

Net current liabilities

(2,313)

(858)

Total assets less current liabilities

1,390

(721)

Capital and reserves

Called up share capital

Profit and loss account

1,389

(722)

Shareholders' funds

1,390

(721)

For the financial year ended 28 February 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The member has 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 10 November 2014

Mr P K Douglas

Director

Company Registration No. 04377201

BUSINESS FINANCE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 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 April 2008).

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

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 March 2013

1,166

Additions

3,600

At 28 February 2014

1,166

3,600

4,766

Depreciation

At 1 March 2013

1,029

Charge for the year

At 28 February 2014

1,063

Net book value

At 28 February 2014

103

3,600

3,703

At 28 February 2013

137

BUSINESS FINANCE SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 28 FEBRUARY 2014

- 3 -

Share capital

2014

2013

Allotted, called up and fully paid

1 Ordinary of £1 each