A B Associates (GB) Limited 06626788 false 2016-09-01 2017-08-31 2017-08-31 The principal activity of the company is forensic psychology consultancy. Digita Accounts Production Advanced 6.21.8540.0 Software true 06626788 2016-09-01 2017-08-31 06626788 2017-08-31 06626788 core:RetainedEarningsAccumulatedLosses 2017-08-31 06626788 core:ShareCapital 2017-08-31 06626788 core:CurrentFinancialInstruments core:WithinOneYear 2017-08-31 06626788 core:FurnitureFittingsToolsEquipment 2017-08-31 06626788 bus:SmallEntities 2016-09-01 2017-08-31 06626788 bus:AuditExemptWithAccountantsReport 2016-09-01 2017-08-31 06626788 bus:FullAccounts 2016-09-01 2017-08-31 06626788 bus:RegisteredOffice 2016-09-01 2017-08-31 06626788 bus:Director1 2016-09-01 2017-08-31 06626788 bus:PrivateLimitedCompanyLtd 2016-09-01 2017-08-31 06626788 core:FurnitureFittingsToolsEquipment 2016-09-01 2017-08-31 06626788 core:OfficeEquipment 2016-09-01 2017-08-31 06626788 core:OtherRelatedParties 2016-09-01 2017-08-31 06626788 countries:AllCountries 2016-09-01 2017-08-31 06626788 core:FurnitureFittingsToolsEquipment 2016-08-31 06626788 2016-08-31 06626788 core:RetainedEarningsAccumulatedLosses 2016-08-31 06626788 core:ShareCapital 2016-08-31 06626788 core:CurrentFinancialInstruments core:WithinOneYear 2016-08-31 06626788 core:FurnitureFittingsToolsEquipment 2016-08-31 iso4217:GBP

Registration number: 06626788

Prepared for the registrar

A B Associates (GB) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2017

 

A B Associates (GB) Limited

(Registration number: 06626788)
Balance Sheet as at 31 August 2017

Note

2017
 £

2016
 £

Fixed assets

 

Tangible assets

4

202

303

Current assets

 

Debtors

5

21,367

10,951

Cash at bank and in hand

 

85

878

 

21,452

11,829

Creditors: Amounts falling due within one year

6

(10,093)

(6,025)

Net current assets

 

11,359

5,804

Total assets less current liabilities

 

11,561

6,107

Deferred tax liabilities

(34)

(61)

Net assets

 

11,527

6,046

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

11,526

6,045

Total equity

 

11,527

6,046

For the financial year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

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

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 16 May 2018
 

A A Burn

Director

 

A B Associates (GB) Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

 

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Midway House, Herrick Way
Staverton Technology Park
Staverton
Cheltenham
Gloucestershire
GL51 6TQ

 

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 

A B Associates (GB) Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office furniture and equipment

33.33% reducing balance

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. All trade debtors are repayable within one year and hence are included at the undiscounted cost of cash expected to be received. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the debtors.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Financial instruments


Classification
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 its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

 

A B Associates (GB) Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

 

4

Tangible assets

Furniture, fittings and equipment
 £

Cost

At 1 September 2016

1,181

At 31 August 2017

1,181

Depreciation

At 1 September 2016

878

Charge for the year

101

At 31 August 2017

979

Carrying amount

At 31 August 2017

202

At 31 August 2016

303

 

5

Debtors

2017
 £

2016
 £

Trade debtors

19,673

10,760

Other debtors

1,500

-

Prepayments

194

191

 

21,367

10,951

 

6

Creditors

Note

2017
 £

2016
 £

Due within one year

 

Amounts due to related parties

7

371

288

Accrued expenses

 

4,600

2,496

Corporation tax liability

5,122

3,241

 

10,093

6,025

 

7

Related party transactions

Summary of transactions with other related parties

At 31 August 2017, the company owed £371 (2016: £288) to A A Burn, in the form of a director's loan account. No interest was charged on this balance and there are no fixed repayment terms.
 

 

A B Associates (GB) Limited

Notes to the Financial Statements for the Year Ended 31 August 2017

 

8

Transition to FRS 102

This is the first period that the company has presented its financial statements under Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council. The last financial statements under previous UK GAAP were for the period from 1 September 2015 to 31 August 2016 and the date of transition to FRS 102 was therefore 1 September 2015. There are no transitional adjustments as a result of adopting FRS 102 for the first time.