Bug (UK) Limited Company Accounts

Bug (UK) Limited Company Accounts

BUG UK LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 04122332
Bug (UK) Limited
Filleted Unaudited Financial Statements
30 June 2017
Bug (UK) Limited
Financial Statements
Year ended 30 June 2017
Contents
Page
Officers and professional advisers
1
Statement of financial position
2
Notes to the financial statements
3
The following pages do not form part of the financial statements
Chartered accountants report to the director on the preparation of the unaudited statutory financial statements
6
Bug (UK) Limited
Officers and Professional Advisers
Director
H Sagne
Registered office
10 Orange Street
Haymarket
London
WC2H 7DQ
Accountants
Shipleys LLP
Chartered Accountants
5 Godalming Business Centre
Woolsack Way
Godalming
Surrey
GU7 1XW
Bug (UK) Limited
Statement of Financial Position
30 June 2017
2017
2016
Note
€
€
€
Current assets
Debtors
5
139,548
94,822
Cash at bank and in hand
545,172
545,668
---------
---------
684,720
640,490
Creditors: amounts falling due within one year
6
( 330,978)
( 296,618)
---------
---------
Net current assets
353,742
343,872
---------
---------
Total assets less current liabilities
353,742
343,872
---------
---------
Net assets
353,742
343,872
---------
---------
Capital and reserves
Called up share capital
8,202
8,202
Profit and loss account
345,540
335,670
---------
---------
Members funds
353,742
343,872
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 30 June 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 28 March 2018 , and are signed on behalf of the board by:
H Sagne
Director
Company registration number: 04122332
Bug (UK) Limited
Notes to the Financial Statements
Year ended 30 June 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 10 Orange Street, Haymarket, London, WC2H 7DQ. The principal place of business is 93 Tufnell Park Road, London, N7 0PS.
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 euro, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 July 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 7.
Revenue recognition
Turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contract actual arrangement, as either financial assets, financial liabilities or equity instruments of the company after deducting all of its liabilities
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Debtors
2017
2016
€
€
Trade debtors
139,500
93,000
Other debtors
48
1,822
---------
--------
139,548
94,822
---------
--------
6. Creditors: amounts falling due within one year
2017
2016
€
€
Trade creditors
–
1,745
Corporation tax
6,350
6,218
Other creditors
324,628
288,655
---------
---------
330,978
296,618
---------
---------
7. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 July 2015.
No transitional adjustments were required in equity or profit or loss for the year.
Bug (UK) Limited
Management Information
Year ended 30 June 2017
The following pages do not form part of the financial statements.
Bug (UK) Limited
Chartered Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Bug (UK) Limited
Year ended 30 June 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Bug (UK) Limited for the year ended 30 June 2017, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of Bug (UK) Limited in accordance with the terms of our engagement letter dated 7 July 2015. Our work has been undertaken solely to prepare for your approval the financial statements of Bug (UK) Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Bug (UK) Limited and its director for our work or for this report.
It is your duty to ensure that Bug (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Bug (UK) Limited. You consider that Bug (UK) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Bug (UK) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Shipleys LLP Chartered Accountants
5 Godalming Business Centre Woolsack Way Godalming Surrey GU7 1XW
28 March 2018