Bobak Conservation Limited Company Accounts

BOBAK CONSERVATION LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2016-04-01 Sage Accounts Production Advanced 2017 - FRS 130,000 39,000 13,000 52,000 78,000 91,000 xbrli:pure xbrli:shares iso4217:GBP 08304553 2016-04-01 2017-03-31 08304553 2017-03-31 08304553 2016-03-31 08304553 2014-12-01 2016-03-31 08304553 2016-03-31 08304553 core:NetGoodwill 2016-04-01 2017-03-31 08304553 core:FurnitureFittings 2016-04-01 2017-03-31 08304553 bus:Director1 2016-04-01 2017-03-31 08304553 core:NetGoodwill 2016-03-31 08304553 core:NetGoodwill 2017-03-31 08304553 core:FurnitureFittings 2016-03-31 08304553 core:FurnitureFittings 2017-03-31 08304553 core:WithinOneYear 2017-03-31 08304553 core:WithinOneYear 2016-03-31 08304553 core:ShareCapital 2017-03-31 08304553 core:ShareCapital 2016-03-31 08304553 core:RetainedEarningsAccumulatedLosses 2017-03-31 08304553 core:RetainedEarningsAccumulatedLosses 2016-03-31 08304553 core:NetGoodwill 2016-03-31 08304553 core:FurnitureFittings 2016-03-31 08304553 bus:FRS102 2016-04-01 2017-03-31 08304553 bus:AuditExempt-NoAccountantsReport 2016-04-01 2017-03-31 08304553 bus:FullAccounts 2016-04-01 2017-03-31 08304553 bus:SmallCompaniesRegimeForAccounts 2016-04-01 2017-03-31 08304553 bus:PrivateLimitedCompanyLtd 2016-04-01 2017-03-31

COMPANY REGISTRATION NUMBER: 08304553

Bobak Conservation Limited

Unaudited Financial Statements

31 March 2017

Bobak Conservation Limited

Financial Statements

Year ended 31 March 2017

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Bobak Conservation Limited

Statement of Financial Position

31 March 2017

	2017		2016
Note	£	£	£

Fixed assets

Intangible assets	6	78,000	91,000
Tangible assets	7	3,029	1,059
		--------	--------
		81,029	92,059

Current assets

Stocks	8	625	625
Debtors	9	34,661	34,948
Cash at bank and in hand		130,379	170,511
		---------	---------
		165,665	206,084

Creditors: amounts falling due within one year	10	178,677		224,427
		---------		---------
Net current liabilities			13,012	18,343
			--------	--------
Total assets less current liabilities			68,017	73,716

Provisions

Taxation including deferred tax	596	212
	--------	--------
Net assets	67,421	73,504
	--------	--------

Capital and reserves

Called up share capital	100	100
Profit and loss account	67,321	73,404
	--------	--------
Members funds	67,421	73,504
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 31 March 2017 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 .

Bobak Conservation Limited

Statement of Financial Position (continued)

31 March 2017

These financial statements were approved by the board of directors and authorised for issue on 22 September 2017 , and are signed on behalf of the board by:

S Bobak
Director

Company registration number: 08304553

Bobak Conservation Limited

Notes to the Financial Statements

Year ended 31 March 2017

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 22 Friars Street, Sudbury, Suffolk, CO10 2AA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	-	25% reducing balance
Computer equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Staff costs

The average number of persons employed by the company during the year, including the director, amounted to 3 (2016: 3).

5. Profit before taxation

(Loss)/profit before taxation is stated after charging:

		Period from
	Year to	1 Dec 14 to
	31 Mar 17	31 Mar 16
	£	£
Amortisation of intangible assets	13,000	13,000
Depreciation of tangible assets	1,010	353
	--------	--------

6. Intangible assets

	Goodwill
	£
Cost
At 1 Apr 2016 and 31 Mar 2017	130,000
	---------
Amortisation
At 1 April 2016	39,000
Charge for the year	13,000
	---------
At 31 March 2017	52,000
	---------
Carrying amount
At 31 March 2017	78,000
	---------
At 31 March 2016	91,000
	---------

7. Tangible assets

	Fixtures and fittings	Equipment	Total
	£	£	£
Cost
At 1 April 2016	1,407	1,106	2,513
Additions	2,980	–	2,980
	-------	-------	-------
At 31 March 2017	4,387	1,106	5,493
	-------	-------	-------
Depreciation
At 1 April 2016	814	640	1,454
Charge for the year	893	117	1,010
	-------	-------	-------
At 31 March 2017	1,707	757	2,464
	-------	-------	-------
Carrying amount
At 31 March 2017	2,680	349	3,029
	-------	-------	-------
At 31 March 2016	593	466	1,059
	-------	-------	-------

8. Stocks

	2017	2016
	£	£
Raw materials and consumables	625	625
	----	----

9. Debtors

	2017	2016
	£	£
Trade debtors	33,045	32,956
Other debtors	1,616	1,992
	--------	--------
	34,661	34,948
	--------	--------

10. Creditors: amounts falling due within one year

	2017	2016
	£	£
Trade creditors	598	1,877
Corporation tax	2,638	27,866
Social security and other taxes	9,347	10,786
Other creditors	166,094	183,898
	---------	---------
	178,677	224,427
	---------	---------

11. Director's advances, credits and guarantees

There are no such transactions for the accounting period.