Registered number
06655035
ABCONSULTANCY SERVICES LTD
Filleted Accounts
31 August 2017
ABCONSULTANCY SERVICES LTD
Registered number: 06655035
Balance Sheet
as at 31 August 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 4,049 4,049
Current assets
Debtors 3 12,480 12,480
Cash at bank and in hand 353,882 265,896
366,362 278,376
Creditors: amounts falling due within one year 4 (43,670) (24,701)
Net current assets 322,692 253,675
Net assets 326,741 257,724
Capital and reserves
Called up share capital 40 40
Profit and loss account 326,701 257,684
Shareholders' funds 326,741 257,724
The director is 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 director acknowledges his 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.
Aashish Bhoja
Director
Approved by the board on 10 May 2018
ABCONSULTANCY SERVICES LTD
Notes to the Accounts
for the year ended 31 August 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 September 2016 7,373
At 31 August 2017 7,373
Depreciation
At 1 September 2016 3,324
At 31 August 2017 3,324
Net book value
At 31 August 2017 4,049
At 31 August 2016 4,049
3 Debtors 2017 2016
£ £
Trade debtors 12,480 12,480
4 Creditors: amounts falling due within one year 2017 2016
£ £
Corporation tax 19,240 17,388
Other taxes and social security costs 6,692 5,429
Other creditors 17,738 1,884
43,670 24,701
5 Other information
ABCONSULTANCY SERVICES LTD is a private company limited by shares and incorporated in England. Its registered office is:
Sinckot House
211, Station Road
Harrow
Middlesex
HA1 2TP
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