Business Asset & Vehicle Finance Ltd 06197598 false true 2015-05-01 2016-04-30 2016-04-30 06197598 2015-05-01 2016-04-30 06197598 2016-04-30 06197598 uk-bus:OrdinaryShareClass1 2016-04-30 06197598 uk-bus:Director1 2015-05-01 2016-04-30 06197598 uk-bus:OrdinaryShareClass1 2015-05-01 2016-04-30 06197598 uk-gaap:ComputerEquipment 2015-05-01 2016-04-30 06197598 2015-04-30 06197598 2015-04-30 06197598 uk-bus:OrdinaryShareClass1 2015-04-30 iso4217:GBP xbrli:shares

Registration number: 06197598

Business Asset & Vehicle Finance Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016
 

 

Business Asset & Vehicle Finance Ltd
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Business Asset & Vehicle Finance Ltd
(Registration number: 06197598)
Abbreviated Balance Sheet at 30 April 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

687

   

826

 

Current assets

 

             

Debtors

 

   

2,618

   

5,104

 

Cash at bank and in hand

 

   

3,532

   

6,391

 
   

   

6,150

   

11,495

 

Creditors: Amounts falling due within one year

 

   

(4,744)

   

(10,853)

 

Net current assets

 

   

1,406

   

642

 

Net assets

 

   

2,093

   

1,468

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

1,993

   

1,368

 

Shareholders' funds

 

   

2,093

   

1,468

 

For the year ending 30 April 2016 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 29 September 2016 and signed on its behalf by:

.........................................
Mr Stuart Norman Balfour
Director

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

 

Business Asset & Vehicle Finance Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Depreciation

epreciation 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

33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 May 2015

 

1,407

   

1,407

 

Additions

 

250

   

250

 

At 30 April 2016

 

1,657

   

1,657

 

Depreciation

           

At 1 May 2015

 

581

   

581

 

Charge for the year

 

389

   

389

 

At 30 April 2016

 

970

   

970

 

Net book value

           

At 30 April 2016

 

687

   

687

 

At 30 April 2015

 

826

   

826

 
 

Business Asset & Vehicle Finance Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

100

   

100

   

100

   

100

 
                         

4

Going concern

The directors have reviewed the twelve months ahead and considered the company's financial position and note no material uncertainties that may cast significant doubt about the ability of it to continue as a going concern.


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