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REGISTERED NUMBER: 08319376











Banabay Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2015






Banabay Limited (Registered number: 08319376)

Contents of the Abbreviated Accounts
for the Year Ended 31 December 2015










Page

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2

Banabay Limited (Registered number: 08319376)

Abbreviated Balance Sheet
31 December 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 6,926 8,772

CURRENT ASSETS
Debtors 1,896,492 902,527
Cash at bank and in hand 7,831 127,177
1,904,323 1,029,704
CREDITORS
Amounts falling due within one year 5,161,103 2,527,046
NET CURRENT LIABILITIES (3,256,780 ) (1,497,342 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,249,854

)

(1,488,570

)

CAPITAL AND RESERVES
Called up share capital 3 100 100
Profit and loss account (3,249,954 ) (1,488,670 )
SHAREHOLDERS' FUNDS (3,249,854 ) (1,488,570 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end
of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the director on 15 September 2016 and were signed by:





M M O'Sullivan - Director


Banabay Limited (Registered number: 08319376)

Notes to the Abbreviated Accounts
for the Year Ended 31 December 2015


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts have been prepared on a going concern basis. This is despite the balance sheet being overdrawn
as it is the opinion of the director that the company will be able to continue to trade for a period of at least a year
after the signing of the balance sheet. This is due to the support of the company's creditors the majority of which
are associated with the business via joint venture shareholding.

Accounting convention
The financial statements 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 net invoiced sales of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.


Fixture and Fittings 33% straight line

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling
at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 January 2015 10,844
Additions 2,422
At 31 December 2015 13,266
DEPRECIATION
At 1 January 2015 2,072
Charge for year 4,268
At 31 December 2015 6,340
NET BOOK VALUE
At 31 December 2015 6,926
At 31 December 2014 8,772

Banabay Limited (Registered number: 08319376)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 December 2015


3. CALLED UP SHARE CAPITAL


Nominal
Value:

2014

2013
£    £   

Ordinary 'A' shares £1 25 25
Ordinary 'B' shares £1 25 25
Ordinary 'C' shares £1 25 25
Ordinary 'D' shares £1 25 25
100 100


All classes of shares rank equally with respect to the right to attend meetings and vote, to dividends and upon
winding up.