ABFAB CONSULTANCY LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Ms S-A Howitt

REGISTERED OFFICE:

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

REGISTERED NUMBER:

03420118 (England and Wales)

ACCOUNTANTS:

Sibbalds Limited

Chartered Accountants and Business Advisers

Oakhurst House

57 Ashbourne Road

Derby

Derbyshire

DE22 3FS

CURRENT ASSETS

Debtors

48,596

49,041

CREDITORS

Amounts falling due within one year

38,641

41,341

NET CURRENT ASSETS

9,955

7,700

TOTAL ASSETS LESS CURRENT LIABILITIES

9,955

7,700

CAPITAL AND RESERVES

Called up share capital

3

10

10

Profit and loss account

9,945

7,690

SHAREHOLDERS' FUNDS

9,955

7,700

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 3 April 2017 and were signed by:

Ms S-A Howitt - Director

1.	ACCOUNTING POLICIES

Accounting convention

The 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 net invoiced sales of services, excluding value added tax, except in respect of service

contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

3,208

DEPRECIATION

At 1 August 2015

and 31 July 2016

3,208

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

10

Ordinary

£1

10

10

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 July 2016 and

31 July 2015:

2016

2015

£

£

Ms S-A Howitt

Balance outstanding at start of year

35,625

35,672

Amounts repaid

(233

)

(47

)

Balance outstanding at end of year

35,392

35,625

There are no formal repayment terms and no interest is payable if owed to the directors. if the director's loan

account is overdrawn then interest is charged at HMRC approved rates. The total amount of interest charged

to the director's loan account at the year end was £1,030 (2015: £1,146).