Registered number
10164816
The Budding Entrepreneur Limited
Unaudited Filleted Accounts
31 May 2018
The Budding Entrepreneur Limited
Registered number: 10164816
Balance Sheet
as at 31 May 2018
Notes 2018 2017
£ £
Current assets
Cash at bank and in hand 970 2,347
Creditors: amounts falling due within one year 2 (2,493) (1,992)
Net current (liabilities)/assets (1,523) 355
Net (liabilities)/assets (1,523) 355
Capital and reserves
Called up share capital 1 1
Profit and loss account (1,524) 354
Shareholder's funds (1,523) 355
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr O G Forsyth
Director
Approved by the board on 13 November 2018
The Budding Entrepreneur Limited
Notes to the Accounts
for the year ended 31 May 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Going concern
The company has net liabilities and is therefore dependent upon the continuing support of its creditors and directors. On the basis that this support is expected to continue, the accounts have been drawn up on the going concern basis.
2 Creditors: amounts falling due within one year 2018 2017
£ £
Trade creditors 8,422 -
Taxation and social security costs 322 88
Other creditors (6,251) 1,904
2,493 1,992
3 Other information
The Budding Entrepreneur Limited is a private company limited by shares and incorporated in England. Its registered office is:
2 Hinksey Court
Church Way
Oxford
Oxfordshire
OX2 9SX
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