REGISTERED NUMBER: 08319376

Banabay Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 December 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

M M O'Sullivan

REGISTERED OFFICE:

The Gatehouse

2B Victoria Works

Vittoria Street

Birmingham

West Midlands

B1 3PE

REGISTERED NUMBER:

08319376

ACCOUNTANTS:

Haines Watts

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Tangible assets

2

8,772

-

CURRENT ASSETS

Stocks

-

56,450

Debtors

902,527

263,897

Cash at bank and in hand

127,177

36,581

1,029,704

356,928

CREDITORS

Amounts falling due within one year

2,527,046

839,399

NET CURRENT LIABILITIES

(1,497,342

)

(482,471

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,488,570

)

(482,471

)

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

(1,488,670

)

(482,571

)

SHAREHOLDERS' FUNDS

(1,488,570

)

(482,471

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2014 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 23 September 2015 and were signed by:

M M O'Sullivan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared on a standard going concern basis. Although the balance sheet is overdrawn

it is the opinion of the director that the company will be able to continue to trade for at least a year after the

signing of the balance sheet due to the fact that trade is growing and the company has the support of it's

creditors.

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 April 2008).

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

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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

Additions

10,844

At 31 December 2014

10,844

DEPRECIATION

Charge for year

2,072

At 31 December 2014

2,072

NET BOOK VALUE

At 31 December 2014

8,772

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.