Abbreviated Company Accounts - ABALONE GRAPHICS LTD

ABALONE GRAPHICS LTD Registered Number 07342562

Abbreviated Balance Sheet as at 31 July 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	15,942	21,883
		15,942	21,883
Current assets
Stocks		2,046	2,012
Debtors		20,823	11,028
Cash at bank and in hand		16,062	6,699
		38,931	19,739
Creditors: amounts falling due within one year		(32,895)	(14,398)
Net current assets (liabilities)		6,036	5,341
Total assets less current liabilities		21,978	27,224
Creditors: amounts falling due after more than one year		(16,036)	(18,604)
Total net assets (liabilities)		5,942	8,620
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		5,842	8,520
Shareholders' funds		5,942	8,620

For the year ending 31 July 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 26 April 2017

And signed on their behalf by:
J Middleton, Director

ABALONE GRAPHICS LTD Registered Number 07342562

Notes to the Abbreviated Accounts for the period ended 31 July 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared on a going concern basis. The Director considers the business to be a going concern on the basis of full support and the directors loan account being postponed until the funds allow repayment.
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).
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a small company.

Turnover policy
Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

Valuation information and policy
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 August 2015	34,599
Additions	449
Disposals	-
Revaluations	-
Transfers	-
At 31 July 2016	35,048
Depreciation
At 1 August 2015	12,716
Charge for the year	6,390
On disposals	-
At 31 July 2016	19,106
Net book values
At 31 July 2016	15,942
At 31 July 2015	21,883

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
100 Ordinary shares of £1 each	100	100