Company Registration No. 06658651 (England and Wales)
A.B.C. PHOTOGRAPHY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
A.B.C. PHOTOGRAPHY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
A.B.C. PHOTOGRAPHY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,371
-
Current assets
Debtors
1,987
4,004
Cash at bank and in hand
11,607
8,274
13,594
12,278
Creditors: amounts falling due within one year
(7,589)
(13,029)
Net current assets/(liabilities)
6,005
(751)
Total assets less current liabilities
7,376
(751)
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
7,374
(753)
Shareholders'  funds
7,376
(751)
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their 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 13 April 2016
A Pearce
Director
Company Registration No. 06658651
A.B.C. PHOTOGRAPHY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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 April 2008), and on a going concern basis on the understanding that there will be continued support from the directors

1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services.
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
33% straight line
2
Fixed assets
Tangible assets
£
Cost
At 1 January 2015
-
Additions
2,057
At 31 December 2015
2,057
Depreciation
At 1 January 2015
-
Charge for the year
686
At 31 December 2015
686
Net book value
At 31 December 2015
1,371
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
A.B.C. PHOTOGRAPHY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
(Continued)
- 3 -
4
Related party relationships and transactions
Other transactions

Other creditors includes £5,808 (2014 £12,249) owed to the directors by A.B.C. Photography Limited. This amount is interest free and has no fixed terms of repayment.

 

Cost of sales includes purchases from A B C Photos Ltd, a company in which A Pearce is the director and shareholder, amounting to £17,824 (2014 £14,273). The company recharged costs of £860 (2014 £2,500) to A B C Photos Ltd. Included in other debtors is an amount of £1,987 (2014 £2,500) due from A B C Photos Ltd.

 

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