Company Registration No. 6230021 (England and Wales)
Ability 1st Limited
Unaudited accounts
for the year ended 31 March 2017
Ability 1st Limited
Unaudited accounts
Contents
Ability 1st Limited
Company Information
for the year ended 31 March 2017
Company Number
6230021 (England and Wales)
Registered Office
41 Oldfields Road
Sutton
Surrey
SM1 2NB
Accountants
Blythe & Co
41 Oldfields Road
Sutton
Surrey
SM1 2NB
Ability 1st Limited
Statement of financial position
as at 31 March 2017
Tangible assets
14,310
3,449
Cash at bank and in hand
8,514
19,032
Creditors: amounts falling due within one year
(36,809)
(28,710)
Net current liabilities
(12,866)
(3,221)
Called up share capital
100
100
Profit and loss account
1,344
128
Shareholders' funds
1,444
228
For the year ending 31 March 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 4 July 2017.
Paul Moon
Director
Company Registration No. 6230021
Ability 1st Limited
Notes to the Accounts
for the year ended 31 March 2017
Ability 1st Limited is a private company, limited by shares, registered in England and Wales, registration number 6230021. The registered office and principal place of business is 41 Oldfields Road, Sutton, Surrey, SM1 2NB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2016.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% on cost
4
Tangible fixed assets
Motor vehicles
Ability 1st Limited
Notes to the Accounts
for the year ended 31 March 2017
Trade debtors
15,429
6,457
6
Creditors: amounts falling due within one year
2017
2016
Obligations under finance leases and hire purchase contracts
-
659
Corporation tax
3,089
7,008
Other taxes and social security costs
8,912
4,899
Loans from directors
23,808
15,144
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Average number of employees
During the year the average number of employees was 1 (2016: 1).