Company Registration No. 07296433 (England and Wales)
A+B BOOKKEEPING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
PAGES FOR FILING WITH REGISTRAR
A+B BOOKKEEPING LIMITED
COMPANY INFORMATION
Directors
Mrs M Hutchings
Mr P A Morrish
Mr D I Wicks
Company number
07296433
Registered office
21 Bampton Street
Tiverton
Devon
EX16 6AA
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
A+B BOOKKEEPING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
A+B BOOKKEEPING LIMITED
BALANCE SHEET
AS AT
30 APRIL 2017
30 April 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
208
Current assets
Stocks
-
5,055
Debtors
4
16,882
16,750
Cash at bank and in hand
12,673
14,000
29,555
35,805
Creditors: amounts falling due within one year
5
(15,166)
(17,327)
Net current assets
14,389
18,478
Total assets less current liabilities
14,389
18,686
Capital and reserves
Called up share capital
6
3
3
Profit and loss reserves
7
14,386
18,683
Total equity
14,389
18,686

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 4 January 2018 and are signed on its behalf by:
Mrs M Hutchings
Director
Company Registration No. 07296433
A+B BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2017
- 2 -
1
Accounting policies
Company information

A+B Bookkeeping Limited is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

These financial statements for the year ended 30 April 2017 are the first financial statements of A+B Bookkeeping Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 May 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Turnover represents amounts receivable for services net of VAT.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
15% reducing balance basis
Computer equipment
3 years striaght line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks represent contract work in progress which are stated at the lower of cost and net realisable value.

A+B BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.6
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.9
Retirement benefits

The company operates a defined contribution scheme for the benefit of its employees.  The costs of contributions are written off against profits in the year they are payable.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 2).

A+B BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
- 4 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Total
£
£
£
Cost
At 1 May 2016
164
1,930
2,094
Disposals
-
(1,930)
(1,930)
At 30 April 2017
164
-
164
Depreciation and impairment
At 1 May 2016
99
1,787
1,886
Depreciation charged in the year
65
143
208
Eliminated in respect of disposals
-
(1,930)
(1,930)
At 30 April 2017
164
-
164
Carrying amount
At 30 April 2017
-
-
-
At 30 April 2016
65
143
208
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
11,733
15,974
Unpaid share capital
3
3
Other debtors
4,735
-
Prepayments and accrued income
411
773
16,882
16,750
5
Creditors: amounts falling due within one year
2017
2016
£
£
Trade creditors
1,410
2,113
Corporation tax
2,450
2,996
Other taxation and social security
4,291
5,096
Dividends payable
6,000
-
Other creditors
150
4,391
Accruals and deferred income
865
2,731
15,166
17,327
A+B BOOKKEEPING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2017
- 5 -
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
Ordinary shares of 0p each
3
3
7
Profit and loss reserves
2017
2016
£
£
At the beginning of the year
18,683
6,852
Profit for the year
10,703
11,831
Dividends
(15,000)
-
At the end of the year
14,386
18,683
2017-04-302016-05-01falseCCH SoftwareCCH Accounts Production 2017.400No description of principal activity04 January 2018072964332016-05-012017-04-3007296433bus:Director12016-05-012017-04-3007296433bus:Director22016-05-012017-04-3007296433bus:Director32016-05-012017-04-3007296433bus:RegisteredOffice2016-05-012017-04-30072964332017-04-30072964332016-04-3007296433core:FurnitureFittings2016-04-3007296433core:ComputerEquipment2016-04-3007296433core:CurrentFinancialInstruments2017-04-3007296433core:CurrentFinancialInstruments2016-04-3007296433core:ShareCapital2017-04-3007296433core:ShareCapital2016-04-3007296433core:RetainedEarningsAccumulatedLosses2017-04-3007296433core:RetainedEarningsAccumulatedLosses2016-04-3007296433core:FurnitureFittings2016-05-012017-04-3007296433core:ComputerEquipment2016-05-012017-04-3007296433core:FurnitureFittings2016-04-3007296433core:ComputerEquipment2016-04-30072964332016-04-3007296433core:FurnitureFittings2017-04-3007296433core:LandBuildings2016-04-30072964332015-05-012016-04-3007296433bus:PrivateLimitedCompanyLtd2016-05-012017-04-3007296433bus:FRS1022016-05-012017-04-3007296433bus:AuditExempt-NoAccountantsReport2016-05-012017-04-3007296433bus:SmallCompaniesRegimeForAccounts2016-05-012017-04-3007296433bus:FullAccounts2016-05-012017-04-30xbrli:purexbrli:sharesiso4217:GBP