Company Registration No. 03273514 (England and Wales)
ABALONE VENTURES LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
LB GROUP
7 Hydra, Orion Court
Addison Way
Great Blakenham
Ipswich
Suffolk
UK
IP6 0LW
ABALONE VENTURES LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABALONE VENTURES LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
2,321
3,330
Current assets
Debtors
15,622
12,905
Cash at bank and in hand
12,877
8,778
28,499
21,683
Creditors: amounts falling due within one year
(20,168)
(15,314)
Net current assets
8,331
6,369
Total assets less current liabilities
10,652
9,699
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
10,650
9,697
Shareholders' funds
10,652
9,699
For the financial year ended 31 March 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 19 December 2016
Mrs A Powell
Director
Company Registration No. 03273514
ABALONE VENTURES LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 2 -
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).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
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 & equipment
3 years straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
13,774
Additions
2,085
Disposals
(7,565)
At 31 March 2016
8,294
Depreciation
At 1 April 2015
10,444
On disposals
(6,801)
Charge for the year
2,330
At 31 March 2016
5,973
Net book value
At 31 March 2016
2,321
At 31 March 2015
3,330
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2