Registration number:
Abaca Holidays and Business Limited
for the Year Ended 31 December 2016
Abaca Holidays and Business Limited
Contents
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Company Information |
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Director's Report |
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Abridged Statement of Financia lPosition |
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Statement of Changes in Equity |
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Notes to the Abridged Financial Statements |
Abaca Holidays and Business Limited
Company Information
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Director |
Michele Barison |
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Company secretary |
Lincoln Secretaries Limited |
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Registered office |
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Page 1 |
Abaca Holidays and Business Limited
Director's Report for the Year Ended 31 December 2016
The director presents his report and the abridged financial statements for the year ended 31 December 2016.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is that of the leisure industry
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on
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Lincoln Secretaries Limited
Company secretary
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Page 2 |
Abaca Holidays and Business Limited
(Registration number: 05985297)
Abridged Statement of Financia lPosition as at 31 December 2016
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Note |
2016 |
2015 |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Prepayments and accrued income |
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Creditors: Amounts falling due within one year |
( |
( |
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Total assets less current liabilities |
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Accruals and deferred income |
( |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
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For the financial year ending 31 December 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
All of the company’s members have consented to the preparation of an Abridged Income Statement and an Abridged Statement of Financia lPosition in accordance with Section 444(2A) of the Companies Act 2006.
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Page 3 |
Abaca Holidays and Business Limited
(Registration number: 05985297)
Abridged Statement of Financia lPosition as at 31 December 2016
Approved and authorised by the
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Michele Barison
Director
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Page 4 |
Abaca Holidays and Business Limited
Statement of Changes in Equity for the Year Ended 31 December 2016
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Share capital |
Profit and loss account |
Total |
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At 1 January 2016 |
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Loss for the year |
- |
( |
( |
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Total comprehensive income |
- |
( |
( |
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At 31 December 2016 |
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( |
( |
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Share capital |
Profit and loss account |
Total |
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At 1 January 2015 |
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( |
( |
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Profit for the year |
- |
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Total comprehensive income |
- |
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At 31 December 2015 |
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Page 5 |
Abaca Holidays and Business Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
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General information |
The company is a private company limited by share capital incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Page 6 |
Abaca Holidays and Business Limited
Notes to the Abridged Financial Statements for the Year Ended 31 December 2016
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Related party transactions |
Summary of transactions with other related parties
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Transition to FRS 102 |
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Page 7 |