Abstract Entertainment Ltd

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		278		348

			278		348
CURRENT ASSETS
Debtors	3	15,248		10,705

		15,248		10,705
Creditors: Amounts Falling Due Within One Year	4	(14,360 )		(11,014 )

NET CURRENT ASSETS (LIABILITIES)			888		(309 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,166		39

NET ASSETS			1,166		39

CAPITAL AND RESERVES
Called up share capital	5		1		1
Profit and Loss Account			1,165		38

SHAREHOLDERS' FUNDS			1,166		39

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

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Peter Upton

27/10/2016

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

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. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% Reducing Balance

2. Tangible Assets


	Total
Cost	£
As at 1 August 2015	1,328

As at 31 July 2016	1,328

Depreciation
As at 1 August 2015	980
Provided during the period	70

As at 31 July 2016	1,050

Net Book Value
As at 31 July 2016	278

As at 1 August 2015	348

3. Debtors

Debtors include an amount of £ 2,141 (2015 - £ 2,141 ) falling due after more than one year.

4. Creditors: Amounts Falling Due Within One Year

	2016	2015
	£	£
Bank loans and overdrafts	2,845	4,954
Corporation tax	10,515	4,720
Other creditors	-	1,340
Accruals and deferred income	1,000	-

	14,360	11,014

Page 1

Abstract Entertainment Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 July 2016

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1	1	1

6. Transactions With and Loans to Directors

Included within Debtors is a loan to the director of £8,564.

The above loan is unsecured, repayable on demand and interest accrued at a rate of 3% for the period of the accounting period.

Dividends paid to directors

7. Ultimate Controlling Party

The company's ultimate controlling party is Peter Upton by virtue of his ownership of 100% of the issued share capital in the company.