ABQM Consulting Ltd - Filleted accounts

ABQM Consulting Ltd
Registered number:		07395276
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Current assets
Debtors	4	-			4,373
Cash at bank and in hand		20,366			57,173
		20,366			61,546

Creditors: amounts falling due within one year	5	(20,929)			(36,677)

Net current (liabilities)/assets			(563)			24,869

Net (liabilities)/assets			(563)			24,869

Capital and reserves
Called up share capital			100			100
Profit and loss account			(663)			24,769

Shareholders' funds			(563)			24,869

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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 A D Beddin
Director
Approved by the board on 3 April 2017

ABQM Consulting Ltd
Notes to the Accounts
for the period from 1 October 2016 to 31 March 2017


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.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Office Equipment	over 4 years
	Computer Equipment	over 3 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


2	Employees		2017		2016
Number				Number

	Average number of persons employed by the company		2		2


3	Tangible fixed assets
		Office Equipment	Computer Equipment		Total
		£	£		£
	Cost
	At 1 October 2016	700	792		1,492
	Disposals	(700)	(792)		(1,492)
	At 31 March 2017	-	-		-

	Depreciation
	At 1 October 2016	700	792		1,492
	On disposals	(700)	(792)		(1,492)
	At 31 March 2017	-	-		-

	Net book value
	At 31 March 2017	-	-		-


4	Debtors		2017		2016
£				£

	Trade debtors		-		3,935
	Prepayments and accrued income		-		438
			-		4,373


5	Creditors: amounts falling due within one year		2017		2016
£				£

	Bank loans and overdrafts		89		9
	Trade creditors		-		1,461
	Accruals and defered income		567		8,000
	Corporation tax		2,094		8,452
	Other taxes and social security costs		5,748		3,082
	Director's loan account		12,431		15,673
			20,929		36,677


6	Other information

	ABQM Consulting Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	The Barn
	11a Queen Catherine Road
	Steeple Claydon
	Buckinghamshire
	MK18 2PZ