Registered number
04770195
Ab Intra Management Consulting Limited
Unaudited Filleted Accounts
31 May 2017
Ab Intra Management Consulting Limited
Registered number: 04770195
Balance Sheet
as at 31 May 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 669 239
Current assets
Stocks 13 3,088
Debtors 4 1,180 2,839
Cash at bank and in hand 27,860 27,114
29,053 33,041
Creditors: amounts falling due within one year 5 (10,332) (19,274)
Net current assets 18,721 13,767
Total assets less current liabilities 19,390 14,006
Provisions for liabilities (193) (48)
Net assets 19,197 13,958
Capital and reserves
Called up share capital 2 2
Profit and loss account 19,195 13,956
Shareholders' funds 19,197 13,958
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 and delivered 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.
Colin Edwards
Director
Approved by the board on 19 December 2017
Ab Intra Management Consulting Limited
Notes to the Accounts
for the year ended 31 May 2017
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice 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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Computer equipment Fixtures and fittings Total
£ £ £
Cost
At 1 June 2016 5,005 160 5,165
Additions 853 - 853
Disposals (1,800) - (1,800)
At 31 May 2017 4,058 160 4,218
Depreciation
At 1 June 2016 4,882 44 4,926
Charge for the year 405 18 423
On disposals (1,800) - (1,800)
At 31 May 2017 3,487 62 3,549
Net book value
At 31 May 2017 571 98 669
At 31 May 2016 123 116 239
4 Debtors 2017 2016
£ £
Trade debtors - 2,496
Other debtors 865 343
Supplier debit balances 315 -
1,180 2,839
5 Creditors: amounts falling due within one year 2017 2016
£ £
Trade creditors 574 125
Corporation tax 4,441 12,199
Other taxes and social security costs 3,933 4,495
Other creditors 1,384 2,455
10,332 19,274
6 Transactions with Directors
During the year both Directors, Colin and Jacqueline Edwards used a current account with the company to record amounts due to them and amounts drawn by them. The account shows an amount owing back to Colin and Jacqueline Edwards as directors as at 31st May 2017 of £63.89 (2016: £797.55). The amount is repayable on demand and does not carry interest.
7 Controlling party
Mr Colin Edwards & Mrs Jacqueline Edwards each hold 50% of the share capital of the company therefore together they are the company's ultimate controlling party.
8 Other information
Ab Intra Management Consulting Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is:
1 High Street
Crickhowell
Powys
NP8 1BD
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