Abbeyfield Consultancy Ltd - Period Ending 2016-05-31

Abbeyfield Consultancy Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016

Abbeyfield Consultancy Ltd
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Abbeyfield Consultancy Ltd
(Registration number: 05403931)
Abbreviated Balance Sheet at 31 May 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets	2	6,715	8,914
Current assets
Debtors		68,066	48,620
Cash at bank and in hand		27,162	20,969
		95,228	69,589
Creditors: Amounts falling due within one year		(55,367)	(62,902)
Net current assets		39,861	6,687
Total assets less current liabilities		46,576	15,601
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		45,576	14,601
Shareholders' funds		46,576	15,601

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

The members have not required the company to obtain an audit in accordance with section 476 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 accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 25 January 2017 and signed on its behalf by:

.........................................
Mr A N Butler
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Abbeyfield Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of consultancy services provided to customers in the period.

Depreciation

Depreciation has been computed to write off the cost of tangible fixed assets over their expected useful lives using the following rates:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance
Office equipment	33.33% reducing balance

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. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

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Abbeyfield Consultancy Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 May 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 June 2015	28,584	28,584
Additions	265	265
At 31 May 2016	28,849	28,849
Depreciation
At 1 June 2015	19,670	19,670
Charge for the year	2,464	2,464
At 31 May 2016	22,134	22,134
Net book value
At 31 May 2016	6,715	6,715
At 31 May 2015	8,914	8,914

3	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

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