ABIKA_CONSULTING_LTD

ABIKA CONSULTING LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,605

575

Current assets

Debtors

211,516

136,436

Cash at bank and in hand

11,548

149,945

223,064

286,381

Creditors: amounts falling due within one year

(146,359)

(103,796)

Net current assets

76,705

182,585

Total assets less current liabilities

78,310

183,160

Creditors: amounts falling due after more than one year

(46,054)

32,256

183,160

Capital and reserves

Called up share capital

Profit and loss account

32,254

183,158

Shareholders' funds

32,256

183,160

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 16 March 2017

Mr J F Armiger

Director

Company Registration No. 06844379

ABIKA CONSULTING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company has cash resources and utilises a debt factoring arrangement in order to meet its day to day working capital requirements. Based on current forecasts the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. They continue to believe the going concern basis of accounting appropriate in preparing the annual financial statements.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

Fixtures, fittings & equipment

3 year straight line

Fixed assets

Tangible assets

Cost

At 1 April 2015

6,335

Additions

2,407

At 31 March 2016

8,742

Depreciation

At 1 April 2015

5,760

Charge for the year

1,377

At 31 March 2016

7,137

Net book value

At 31 March 2016

1,605

At 31 March 2015

575

ABIKA CONSULTING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary shares of £1 each

Related party relationships and transactions

Loans to directors

Transactions in relation to loans with directors during the year are outlined in the table below:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr J F Armiger - Loan

8,592

Mr J R L Gordon - Loan

561

9,153