Registered Number 05471247

ABSEA VENTURES LIMITED

Abbreviated Accounts

30 June 2016

ABSEA VENTURES LIMITED Registered Number 05471247

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Current assets
Stocks 34,650 -
Cash at bank and in hand 38 -
34,688 -
Creditors: amounts falling due within one year (163,672) (159,463)
Net current assets (liabilities) (128,984) (159,463)
Total assets less current liabilities (128,984) (159,463)
Total net assets (liabilities) (128,984) (159,463)
Capital and reserves
Called up share capital 2 100 100
Profit and loss account (129,084) (159,563)
Shareholders' funds (128,984) (159,463)
  • For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 March 2017

And signed on their behalf by:
Edmund Barraclough Broadbent, Director

ABSEA VENTURES LIMITED Registered Number 05471247

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015

Turnover policy
Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

Other accounting policies
Work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on the selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax is recognised in respect of all timing differences that have originated but not yet reversed at the balance sheet date.

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of it’s liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100

The company is controlled by the directors who own 100% of the called up share capital.