AA Accountancy Ltd - Filleted accounts

Registered number

05737053

AA Accountancy Ltd

Filleted Abridged Accounts

for the year ended

31 March 2017

AA Accountancy Ltd
Registered number:		05737053
Abridged Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Intangible assets	3		8,000			8,000
Tangible assets	4		7,300			5,350
			15,300			13,350

Current assets
Stocks		265			297
Work in progress		2,755			5,455
Debtors		15,641			18,628
Cash at bank and in hand		12,272			7,493
		30,933			31,873

Creditors: amounts falling due within one year		(3,894)			(4,247)

Net current assets			27,039			27,626

Total assets less current liabilities			42,339			40,976


Provisions for liabilities			(1,300)			-

Net assets			41,039			40,976

Capital and reserves
Called up share capital			40,000			40,000
Profit and loss account			1,039			976

Shareholders' funds			41,039			40,976

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.
The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

.................................................
A S Kidby
Director
Approved by the board on 22 October 2017

AA Accountancy Ltd
Notes to the Abridged Accounts
for the year ended 31 March 2017


1	Accounting policies

	Basis of preparation
	The abridged 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. 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:

	Equipment		25% reducing balance
	Motor vehicles		25% reducing balance

	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.


2	Employees			2017		2016
Number					Number

	Average number of persons employed by the company			4		4


3	Intangible fixed assets					£
	Goodwill:

	Cost
	At 1 April 2016					13,800
	At 31 March 2017					13,800

	Amortisation
	At 1 April 2016					5,800
	At 31 March 2017					5,800

	Net book value
	At 31 March 2017					8,000
	At 31 March 2016					8,000



4	Tangible fixed assets
						Total
£
	Cost
	At 1 April 2016					16,501
	Additions					4,177
	At 31 March 2017					20,678

	Depreciation
	At 1 April 2016					11,151
	Charge for the year					2,227
	At 31 March 2017					13,378

	Net book value
	At 31 March 2017					7,300
	At 31 March 2016					5,350


5	Other information

	AA Accountancy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
		68 Kensington Road
		Copnor
		Portsmouth
		Hampshire
		PO2 0JR