pinacle - Company Accounts (iXBRL 6.0.16)

BETTER LIFE WORLDWIDE LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 December 2016

Company Registration Number - 08746816

ANDREWS & COMPANY

Accountants & Tax Consultants

	1.
BETTER LIFE WORLDWIDE LIMITED
COMPANY NUMBER - 08746816
Balance sheet as at 31 December 2016

			2016		2015
	Notes	£	£	£	£

FIXED ASSETS
Intangible assets	4		41,806		62,709
Tangible assets	5		6,645		7,961
			48,451		70,670
Current assets
Stocks		33,858		10,027
Debtors	6	7,763		13,616
Cash at bank and in hand		52,674		61,342
		94,295		84,985
Current liabilities
Creditors - Amounts
falling due within one year	7	93,867		122,751
NET CURRENT ASSETS (LIABILITIES)			428		( 37,766)
Total assets less current liabilities			48,879		32,904

	2.
BETTER LIFE WORLDWIDE LIMITED
COMPANY NUMBER - 08746816
Balance sheet as at 31 December 2016
	Notes

CAPITAL AND RESERVES
Called up share capital	8		1		1
Profit and loss account			48,878		32,903
Shareholders' funds			48,879		32,904

These financial statements have been prepared in accordance with the provisions of FRS102 Section 1A of the Companies Act 2006 relating to small companies.

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

For the financial year ended 31 December 2016, the company was entitled to exemption from audit under section 477 of the Companies Act 2006; and no notice has been deposited under section 476.

The members have not required the company to obtain an audit.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

Approved by the board of directors on 27 September 2017
and signed on their behalf by:
MISS KATJA SIEVERS
The notes on pages 3 to 5 form an integral part of these accounts.

	3.
BETTER LIFE WORLDWIDE LIMITED
Notes to the Financial Statements
For the year ended 31 December 2016
1. General Information

BETTER LIFE WORLDWIDE LIMITED is a Private Company, limited by shares, domiciled in England and Wales, registration number 08746816.

The company's registered office is Unit 6c Abbey Business Centre, Uddens Trading Estate, Wimborne, Dorset BH21 7LQ.

2. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102, section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

This is the first year in which the financial statements have been prepared under FRS102. Details of the transition to FRS 102 are disclosed in note 9.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents goods supplied or services rendered, stated net of Value Added Tax. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.

Tangible fixed assets and depreciation

Depreciation is provided, after taking account of any grants receivable, at the following annual rates in order to write off each asset over its estimated useful life:

Plant and machinery - 25% reducing balance

Fixtures and fittings - 25% reducing balance

Motor vehicles - 25% reducing balance

Computer equipment - 50% straight line

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

3. Employees

The average number of persons employed by the company (including directors) during the year was 2 (2015 - 2).

	4.
BETTER LIFE WORLDWIDE LIMITED
Notes to the Financial Statements
For the year ended 31 December 2016

4. Fixed assets - intangible

	Goodwill
Cost or valuation	£
At 1 January 2016	83,612
and 31 December 2016
Amortisation
At 1 January 2016	20,903
Charge for year	20,903
At 31 December 2016	41,806
Net book values
At 31 December 2016	41,806
At 1 January 2016	62,709
5. Fixed assets - tangible

	Plant	Fixtures
	and	and	Motor	Computer	Total
	machinery	fittings	vehicles	equipment
Cost or valuation	£	£	£	£	£
At 1 January 2016	1,158	2,489	8,200	2,978	14,825
Additions	-	1,192	-	1,204	2,396
At 31 December 2016	1,158	3,681	8,200	4,182	17,221
Depreciation
At 1 January 2016	507	886	3,588	1,883	6,864
Charge for year	163	699	1,153	1,697	3,712
At 31 December 2016	670	1,585	4,741	3,580	10,576
Net book values
At 31 December 2016	488	2,096	3,459	602	6,645
At 1 January 2016	651	1,603	4,612	1,095	7,961

	2016		2015
	£		£

6. DEBTORS
Due within one year:
Trade debtors	7,763		13,616

	5.
BETTER LIFE WORLDWIDE LIMITED
Notes to the Financial Statements
For the year ended 31 December 2016

	2016		2015
	£		£

7. CREDITORS
Amounts falling due within one year:
Trade creditors	50,058		30,868
Other creditors:
Corporation tax	11,867		11,328
Other taxation and social security	13,366		8,473
Directors' current accounts	17,326		70,857
Accruals and deferred income	1,250		1,225
	93,867		122,751
8. Called up share capital

There was no change in share capital during the year.

Allotted, called up and fully paid
shares of £1 each Ordinary	1		1
9. Impact of first year adoption of FRS102

The accounting policies applied under the company's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or the profit or loss.