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Registration number: 03465424

Abbey International Events Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2016

Ripe LLP
9a Burroughs Gardens
London
NW4 4AU

 

Abbey International Events Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3 to 5

 

Abbey International Events Ltd

Company Information

Director

Mr A Aljoe

Company secretary

Mrs S Aljoe

Registered office

Basement 2
22 Greek Street
London
W1D 4DY

Accountants

Ripe LLP
9a Burroughs Gardens
London
NW4 4AU

 

Abbey International Events Ltd

(Registration number: 03465424)
Balance Sheet as at 31 December 2016

Note

2016
£

2015
£

Fixed assets

 

Tangible assets

2

84

99

Current assets

 

Debtors

3

448,741

190,427

Cash at bank and in hand

 

103,019

347,795

 

551,760

538,222

Creditors: Amounts falling due within one year

4

(280,659)

(370,236)

Net current assets

 

271,101

167,986

Net assets

 

271,185

168,085

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

270,185

167,085

Total equity

 

271,185

168,085

For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 21 March 2017
 

.........................................

Mr A Aljoe

Director

 

Abbey International Events Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

15% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Abbey International Events Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2016

1,569

1,569

At 31 December 2016

1,569

1,569

Depreciation

At 1 January 2016

1,470

1,470

Charge for the year

15

15

At 31 December 2016

1,485

1,485

Carrying amount

At 31 December 2016

84

84

At 31 December 2015

99

99

3

Debtors

2016
 £

2015
 £

Trade debtors

17,600

9,286

Prepayments

431,141

181,141

 

448,741

190,427

 

Abbey International Events Ltd

Notes to the Financial Statements for the Year Ended 31 December 2016

4

Creditors

Note

2016
£

2015
£

Due within one year

 

Trade creditors

 

11

-

Other creditors

 

280,648

370,236

 

280,659

370,236

5

Share capital

Allotted, called up and fully paid shares

 

2016

2015

 

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000