Blue Light Card Ltd - Period Ending 2014-04-30

Registration number: 06581540

Blue Light Card Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014
 

Farrars Limited
  Chartered Accountants
  9 John Tiltman Drive
  Loughborough
  Leicestershire
  LE11 2PU

Blue Light Card Ltd
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 3

Blue Light Card Ltd (Registration number: 06581540 )
  Abbreviated Balance Sheet at 30 April 2014

		Note			2014 £			2013 £
Fixed assets
Tangible fixed assets					21,511			5,595
Current assets
Stocks					4,040			2,533
Debtors					20,494			23,287
Cash at bank and in hand					52,344			32,068
					76,878			57,888
Creditors: Amounts falling due within one year					(21,535)			(23,059)
Net current assets					55,343			34,829
Total assets less current liabilities					76,854			40,424
Provisions for liabilities					(4,302)			(1,119)
Net assets					72,552			39,305
Capital and reserves
Called up share capital		4			1,000			1,000
Profit and loss account					71,552			38,305
Shareholders' funds					72,552			39,305

For the year ending 30 April 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 30 January 2015 and signed on its behalf by:

.........................................
T J Dalby
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
  Page 1

Blue Light Card Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014 ......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents the amount invoiced for goods and services supplied during the year. Turnover is recognised upon completion of service or despatch of goods.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Computer equipment	3 years straight line
Fixtures and fittings	25% reducing balance method
Office equipment	25% reducing balance method
Software	5 years straight line

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Blue Light Card Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014 ......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 May 2013		8,147			8,147
Additions		22,203			22,203
At 30 April 2014		30,350			30,350
Depreciation
At 1 May 2013		2,552			2,552
Charge for the year		6,287			6,287
At 30 April 2014		8,839			8,839
Net book value
At 30 April 2014		21,511			21,511
At 30 April 2013		5,595			5,595

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2014 £			2013 £
Amounts falling due within one year		580			-

4	Share capital

Allotted, called up and fully paid shares

	2014						2013
		No.			£			No.			£
Ordinary shares of £1 each		1,000			1,000			1,000			1,000

Page 3