Company Registration No. 05624558 (England and Wales)
ABACUS COLLEGE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2016
ABACUS COLLEGE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABACUS COLLEGE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
3,300
4,800
Tangible assets
2
4,907
7,649
8,207
12,449
Current assets
Debtors
236,364
266,053
Cash at bank and in hand
58,149
19,165
294,513
285,218
Creditors: amounts falling due within one year
(465,857)
(299,524)
Net current liabilities
(171,344)
(14,306)
Total assets less current liabilities
(163,137)
(1,857)
Capital and reserves
Profit and loss account
(163,137)
(1,857)
Shareholders' funds
(163,137)
(1,857)
For the financial Period ended 31 August 2016 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 financial statements for the Period in question in accordance with section 476;
-
The director acknowledges his 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 for issue on 15 November 2016
R Carrington
Director
Company Registration No. 05624558
ABACUS COLLEGE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for services provided.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.4
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
25% per annum straight line method
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 June 2015
6,000
43,102
49,102
Additions
-
933
933
At 31 August 2016
6,000
44,035
50,035
Depreciation
At 1 June 2015
1,200
35,453
36,653
Charge for the period
1,500
3,675
5,175
At 31 August 2016
2,700
39,128
41,828
Net book value
At 31 August 2016
3,300
4,907
8,207
At 31 May 2015
4,800
7,649
12,449