Registered number
05955066
Bountee Limited
Abbreviated Accounts
31 October 2015
Bountee Limited
Registered number: 05955066
Abbreviated Balance Sheet
as at 31 October 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 5,969 7,461
Tangible assets 3 1,424 1,780
7,393 9,241
Current assets
Debtors 583 119
Cash at bank and in hand 958 678
1,541 797
Creditors: amounts falling due within one year (35,184) (35,884)
Net current liabilities (33,643) (35,087)
Total assets less current liabilities (26,250) (25,846)
Creditors: amounts falling due after more than one year (81,289) (81,289)
Net liabilities (107,539) (107,135)
Capital and reserves
Called up share capital 4 200 200
Profit and loss account (107,739) (107,335)
Shareholders' funds (107,539) (107,135)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
R Shivahare
Director
Approved by the board on 19 July 2016
Bountee Limited
Notes to the Abbreviated Accounts
for the year ended 31 October 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 25% reducing balance method
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Intangible fixed assets £
Cost
At 1 November 2014 52,987
At 31 October 2015 52,987
Amortisation
At 1 November 2014 45,526
Provided during the year 1,492
At 31 October 2015 47,018
Net book value
At 31 October 2015 5,969
At 31 October 2014 7,461
3 Tangible fixed assets £
Cost
At 1 November 2014 7,284
At 31 October 2015 7,284
Depreciation
At 1 November 2014 5,504
Charge for the year 356
At 31 October 2015 5,860
Net book value
At 31 October 2015 1,424
At 31 October 2014 1,780
4 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 200 200 200
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