Company Registration No. 07007903 (England and Wales)
BAIN AND GRAY LIMITED
Unaudited abbreviated financial statements
For the year ended 30 September 2013
BAIN AND GRAY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
BAIN AND GRAY LIMITED
ABBREVIATED BALANCE SHEET
As at 30 September 2013
- 1 -
2013
2012
Notes
£
£
£
£
Fixed assets
Tangible assets
2
3,145
3,517
Current assets
Debtors
3
62,542
91,623
Cash at bank and in hand
64,915
91,152
127,457
182,775
Creditors: amounts falling due within one year
(66,112)
(84,682)
Net current assets
61,345
98,093
Total assets less current liabilities
64,490
101,610
Provisions for liabilities
(836)
(836)
63,654
100,774
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
63,554
100,674
Shareholders' funds
63,654
100,774
For the financial year ended 30 September 2013 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board and authorised for issue on 27 May 2014
Ms E Bain
Ms C Gray
Director
Director
Company Registration No. 07007903
BAIN AND GRAY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
For the year ended 30 September 2013
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover

Turnover represents the value of net commission receivable in the period and the recharge of the temporary staff costs incurred by the company on behalf of its clients, excluding value added tax. Revenue is recognised when each candidate has been placed successfully. The recharge of the staff costs is recognised when the direct wage costs are incurred.

1.4
Tangible fixed assets and depreciation

Fixed assets are recorded at cost, excluding value added tax. Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

 

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment
25% on reducing balance basis
Fixtures, fittings & equipment
15% on reducing balance basis
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 October 2012 & at 30 September 2013
5,940
Depreciation
At 1 October 2012
2,423
Charge for the year
372
At 30 September 2013
2,795
Net book value
At 30 September 2013
3,145
At 30 September 2012
3,517
BAIN AND GRAY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
For the year ended 30 September 2013
- 3 -
3
Debtors
Debtors include an amount of £1,750 (2012 - £1,200) which is due after more than one year.
4
Share capital
2013
2012
£
£
Allotted, called up and fully paid
100 ordinary shares of £1 each
100
100
2013-09-302012-10-01truetruetrue30 September 2013falsetruetruetmpC458.html2014-06-05070079032012-10-012013-09-30070079032013-09-30070079032012-09-3007007903uk-bus:Director12012-10-012013-09-3007007903uk-bus:Director22012-10-012013-09-3007007903uk-gaap:ComputerEquipment2012-10-012013-09-3007007903uk-gaap:FixturesFittingsToolsEquipment2012-10-012013-09-30070079032012-09-3007007903uk-bus:OrdinaryShareClass12012-10-012013-09-3007007903uk-bus:OrdinaryShareClass12013-09-3007007903uk-bus:OrdinaryShareClass12012-09-3007007903uk-curr:PoundSterling2012-10-012013-09-30xbrli:purexbrli:sharesiso4217:GBP

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