Company Registration No. 06665686 (England and Wales)
ABC DIGITAL DISTRIBUTION LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2015
ABC DIGITAL DISTRIBUTION LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABC DIGITAL DISTRIBUTION LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2015
31 August 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
2,629
3,286
Tangible assets
2
17,473
10,354
20,102
13,640
Current assets
Debtors
20,701
31,644
Cash at bank and in hand
23,672
20,769
44,373
52,413
Creditors: amounts falling due within one year
(139,944)
(114,157)
Net current liabilities
(95,571)
(61,744)
Total assets less current liabilities
(75,469)
(48,104)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
(75,470)
(48,105)
Shareholders' funds
(75,469)
(48,104)
For the financial period ended 31 August 2015 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 period 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 and authorised for issue on 4 April 2016
Mr Gautam Puri
Director
Company Registration No. 06665686
ABC DIGITAL DISTRIBUTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
The company meets its day to day working capital requirements through an overdraft facility which is repayable on demand.
The nature of the company's business is such that there can be considerable unpredictable variation in the timing of cash inflows. The directors have prepared projected cash flow information for the period ending 9 months from the date of their approval of these financial statements. On the basis of this cash flow information and discussions with the company's bankers, the directors consider that the company will continue to operate within the facility currently agreed and within that which they expect will be agreed, when the company's bankers are due to consider renewing the facility for a further year.
However, the margin of facilities over requirements is not large and, inherently there can be no certainty in relation to these matters. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the overdraft facility by the company's bankers.
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
Patents
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.5
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:
Fixtures, fittings & equipment
20% RBM
1.6
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ABC DIGITAL DISTRIBUTION LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2015
- 3 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 September 2014
10,027
12,942
22,969
Additions
-
11,487
11,487
At 31 August 2015
10,027
24,429
34,456
Depreciation
At 1 September 2014
6,741
2,588
9,329
Charge for the period
657
4,368
5,025
At 31 August 2015
7,398
6,956
14,354
Net book value
At 31 August 2015
2,629
17,473
20,102
At 31 August 2014
3,286
10,354
13,640
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 Ordinary shares of £1 each
1
1