Ability Product Marketing Ltd |
Registered number: |
06884052 |
Statement of Financial Position |
as at 30 April 2017 |
|
Notes |
|
|
2017 |
|
|
2016 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
53 |
|
|
71 |
|
Current assets |
Cash at bank and in hand |
|
|
156 |
|
|
337 |
|
Creditors: amounts falling due within one year |
4 |
|
(6,158) |
|
|
(5,715) |
|
Net current liabilities |
|
|
|
(6,002) |
|
|
(5,378) |
|
Net liabilities |
|
|
|
(5,949) |
|
|
(5,307) |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
(6,049) |
|
|
(5,407) |
|
Shareholders' funds |
|
|
|
(5,949) |
|
|
(5,307) |
|
|
|
|
|
|
|
|
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 members have 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 special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
J N Harpham |
Director |
Approved by the board on 29 November 2017 |
|
Ability Product Marketing Ltd |
Notes to the Accounts |
for the year ended 30 April 2017 |
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|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland. |
|
|
Transition to FRS 102 |
|
The entity transitioned from previous UK GAAP to FRS 102 as at 1 May 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in the notes below. |
|
|
Going concern |
|
The company had retained losses as at the balance sheet date which were not covered by the share capital of the company. The company is intending to trade in the future and the director is funding the company in the form of a director’s loan. The director is planning to continue this financial support for the foreseeable future. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
25% reducing balance |
|
|
Creditors |
|
Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
2 |
Employees |
2017 |
|
2016 |
Number |
Number |
|
|
Average number of persons employed by the company |
- |
|
- |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
£ |
|
Cost |
|
At 1 May 2016 |
533 |
|
At 30 April 2017 |
533 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 May 2016 |
462 |
|
Charge for the year |
18 |
|
At 30 April 2017 |
480 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 30 April 2017 |
53 |
|
At 30 April 2016 |
71 |
|
|
|
|
|
|
|
|
|
|
4 |
Creditors: amounts falling due within one year |
2017 |
|
2016 |
£ |
£ |
|
|
Accruals |
396 |
|
378 |
|
Directors' current accounts |
5,762 |
|
5,337 |
|
|
|
|
|
|
6,158 |
|
5,715 |
|
|
|
|
|
|
|
|
|
6 |
Other information |
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Ability Product Marketing Ltd is a private company limited by shares and incorporated in England. Its registered office is: |
|
269 Farnborough Road |
|
Farnborough |
|
Hampshire |
|
GU14 7LY |
|
7 |
Transition to FRS 102 |
|
|
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 May 2015. No transitional adjustments were required in equity or profit or loss for the year. |