Registered number
06692115
Abacus Consulting Interventions Ltd
Filleted Accounts
For the Year Ended
31 March 2017
Abacus Consulting Interventions Ltd
Registered number: 06692115
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 201 402
Current assets
Cash at bank and in hand 63,083 51,431
Creditors: amounts falling due within one year 4 (40,962) (28,421)
Net current assets 22,121 23,010
Total assets less current liabilities 22,322 23,412
Provisions for liabilities (38) (80)
Net assets 22,284 23,332
Capital and reserves
Called up share capital 2 2
Profit and loss account 22,282 23,330
Shareholders' funds 22,284 23,332
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.
Paul Whitters
Director
Approved by the board on 6 December 2017
Abacus Consulting Interventions Ltd
Notes to the Accounts
for the year ended 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:
Fixtures, fittings, tools and 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office Equipment
£
Cost
At 1 April 2016 2,100
At 31 March 2017 2,100
Depreciation
At 1 April 2016 1,698
Charge for the year 201
At 31 March 2017 1,899
Net book value
At 31 March 2017 201
At 31 March 2016 402
4 Creditors: amounts falling due within one year 2017 2016
£ £
Other taxes and social security costs 1,640 4,842
Other creditors 39,322 23,579
40,962 28,421
5 Related party transactions 2017 2016
£ £
P. Whitters
Director & shareholder
Director's loan account
Balance due from/(to) the company at 1 April 22,883 11,441
Amount advanced (7,450) -
Amount advanced or repaid 8,293 11,442
Balance due from/(to) the company at 31 March 38,626 22,883
6 Other information
Abacus Consulting Interventions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
55 Coniston Drive
Holmes Chapel
Cheshire
CW4 7UB
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