Company Registration No. 5147474 (England and Wales)
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED FOR THE YEAR ENDED 30 JUNE 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Abbotts Advertising and Sponsorship Limited for the year ended 30 June 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of Abbotts Advertising and Sponsorship Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Abbotts Advertising and Sponsorship Limited and state those matters that we have agreed to state to the Board of Directors of Abbotts Advertising and Sponsorship Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbotts Advertising and Sponsorship Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Abbotts Advertising and Sponsorship Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbotts Advertising and Sponsorship Limited. You consider that Abbotts Advertising and Sponsorship Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Abbotts Advertising and Sponsorship Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Carpenter Box
13 February 2017
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
365
487
Current assets
Debtors
35,291
31,402
Cash at bank and in hand
11,737
9,925
47,028
41,327
Creditors: amounts falling due within one year
(53,972)
(43,872)
Net current liabilities
(6,944)
(2,545)
Total assets less current liabilities
(6,579)
(2,058)
Provisions for liabilities
(100)
(100)
(6,679)
(2,158)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(6,779)
(2,258)
Shareholders'  funds
(6,679)
(2,158)
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 13 February 2017
Mr J Ramsden
Mrs C Ramsden
Director
Director
Company Registration No. 5147474
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
1
Accounting policies
1.1
Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The accounts have been prepared on a going concern basis, which assumes that the company will continue trading for the foreseeable future. The company is dependent on the continued support of their trade creditors and are currently trading within their terms. The financial statements do not include any adjustment that would result from a withdrawal of this support.

1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
25% reducing balance per annum
1.4
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.5
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes.  The deferred tax balance has not been discounted.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015 & at 30 June 2016
2,934
Depreciation
At 1 July 2015
2,447
Charge for the period
122
At 30 June 2016
2,569
Net book value
At 30 June 2016
365
At 30 June 2015
487
ABBOTTS ADVERTISING AND SPONSORSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 4 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary Shares of £1 each
100
100
4
Related party relationships and transactions
Loans to directors
The following directors had interest free loans during the year. The movement on these loans are as follows:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
Mrs C Ramsden -
-
3,643
31,153
-
34,451
345
Mr J Ramsden  -
-
3,643
31,153
-
34,451
345
7,286
62,306
-
68,902
690
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