Registered number
04590690
Academy Marquees Limited
Abbreviated unaudited financial statements
30 November 2016
Academy Marquees Limited
Registered number: 04590690
Abbreviated Balance Sheet
as at 30 November 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 324,727 272,015
Current assets
Stocks 5,686 5,686
Debtors 90,653 86,768
Cash at bank and in hand 623 7,037
96,962 99,491
Creditors: amounts falling due within one year (167,265) (206,231)
Net current liabilities (70,303) (106,740)
Total assets less current liabilities 254,424 165,275
Creditors: amounts falling due after more than one year (111,494) (70,664)
Provisions for liabilities (61,814) (34,509)
Net assets 81,116 60,102
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 81,016 60,002
Shareholder's funds 81,116 60,102
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
……………………………………………
Mr E L Buchanan
Director
Approved by the board on 31 August 2017
Academy Marquees Limited
Notes to the Abbreviated unaudited financial statements
for the year ended 30 November 2016
1 Accounting policies
Basis of preparation
The unaudited financial statements 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 the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and equipment 20% on reducing balance
Office equipments 25% on reducing balance
Motor vehicles 25% on reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the unaudited financial statements and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Leasing and hire purchase commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lesser are charged against profit on a straight line basis over the lease term.
2 Tangible fixed assets £
Cost
At 1 December 2015 644,859
Additions 142,667
Disposals (25,367)
At 30 November 2016 762,159
Depreciation
At 1 December 2015 372,844
Charge for the year 65,761
On disposals (1,173)
At 30 November 2016 437,432
Net book value
At 30 November 2016 324,727
At 30 November 2015 272,015
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
A Ordinary shares £1 each 80 80 80
B Ordinary shares £1 each 20 20 20
100 100
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