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Registration number: 09610136

B2 Technologies Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2017

Rain Gaskell Limited
Chartered Certified Accountants
1024 Stockport road
Manchester
M19 3WX

 

B2 Technologies Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Abridged Financial Statements

4 to 7

 

B2 Technologies Limited

Company Information

Director

Ahmad Shahzad

Registered office

33 Jamestown Avenue
Great Sankey
Warrington
WA5 8AD

Accountants

Rain Gaskell Limited
Chartered Certified Accountants
1024 Stockport road
Manchester
M19 3WX

 

B2 Technologies Limited

(Registration number: 09610136)
Abridged Balance Sheet as at 31 May 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

2,323

1,200

Current assets

 

Cash at bank and in hand

 

47,498

39,556

Creditors: Amounts falling due within one year

(20,208)

(14,293)

Net current assets

 

27,290

25,263

Total assets less current liabilities

 

29,613

26,463

Creditors: Amounts falling due after more than one year

-

(7,372)

Accruals and deferred income

 

(1,020)

(1,020)

Net assets

 

28,593

18,071

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

28,493

17,971

Total equity

 

28,593

18,071

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

B2 Technologies Limited

(Registration number: 09610136)
Abridged Balance Sheet as at 31 May 2017

Approved and authorised by the director on 18 August 2017
 

.........................................

Ahmad Shahzad

Director

 

B2 Technologies Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

1

General information

The company is a private company limited by share capital, incorporated in OK.

The address of its registered office is:
33 Jamestown Avenue
Great Sankey
Warrington
WA5 8AD

These financial statements were authorised for issue by the director on 18 August 2017.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

B2 Technologies Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

20% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

B2 Technologies Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

4

Tangible assets

Total
£

Cost or valuation

At 1 June 2016

1,500

Additions

1,704

At 31 May 2017

3,204

Depreciation

At 1 June 2016

300

Charge for the year

581

At 31 May 2017

881

Carrying amount

At 31 May 2017

2,323

At 31 May 2016

1,200

5

Share capital

Allotted, called up and fully paid shares

 

2017

2016

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         
 

B2 Technologies Limited

Notes to the Abridged Financial Statements for the Year Ended 31 May 2017

6

Dividends

Final dividends paid

   

2017
£

 

2016
£

Final dividend of £1.00 per each Ordinary shares share

 

40,000

 

18,000

         

7

Related party transactions

Directors' remuneration

The director's remuneration for the year was as follows:

2017
£

2016
£

Remuneration

20,000

20,000


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