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COMPANY REGISTRATION NUMBER 04199149
ABC TECHNOLOGY SOLUTIONS LIMITED
UNAUDITED ABBREVIATED ACCOUNTS
30 September 2015
ABC TECHNOLOGY SOLUTIONS LIMITED
ABBREVIATED BALANCE SHEET
30 September 2015
2015
2014
Note
£
£
£
Fixed assets
2
Tangible assets
277
12,248
----
--------
Current assets
Debtors
174,930
144,496
Cash at bank and in hand
144,339
127,190
---------
---------
319,269
271,686
Creditors: Amounts falling due within one year
( 147,224)
( 77,320)
---------
---------
Net current assets
172,045
194,366
---------
---------
Total assets less current liabilities
172,322
206,614
Provisions for liabilities
-
( 4,627)
---------
---------
172,322
201,987
---------
---------
Capital and reserves
Called up equity share capital
4
3,051
3,051
Profit and loss account
169,271
198,936
---------
---------
Shareholders' funds
172,322
201,987
---------
---------
For the year ended 30 September 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 accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 22 June 2016 , and are signed on their behalf by:
S B Burgess Director
Company Registration Number: 04199149
ABC TECHNOLOGY SOLUTIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30 SEPTEMBER 2015
1. Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with applicable UK accounting standards.
Cash flow statement
The directors have taken advantage of the exemption in Financial Reporting Standard No 1 (Revised 1996) from including a cash flow statement in the financial statements on the grounds that the company is small.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Fittings-33% straight line
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold.
Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
2. Fixed assets
Tangible Assets
£
Cost
At 1 October 2014 and 30 September 2015
90,885
--------
Depreciation
At 1 October 2014
78,637
Charge for year
11,971
--------
At 30 September 2015
90,608
--------
Net book value
At 30 September 2015
277
----
At 30 September 2014
12,248
--------
3. Transactions with the directors
The following directors had interest free loans during the year . The movements on these loans were as follows:
2015 2014 Maximum in the year
£ £ £
S B Burgess 526 30,000 30,000
A M Ellis 30,000 30,000
By virtue of the outstanding loan accounts, a liability to taxation exists under Section 455 of CTA 2010 in the sum of £132. It is anticipated that the loans will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.
4. Share capital
Authorised share capital:
2015
2014
£
£
122,046 Ordinary Class A shares of £ 0.01 each
1,220
1,220
152,558 Ordinary Class B shares of £ 0.01 each
1,526
1,526
13,730 Ordinary Class D shares of £ 0.01 each
137
137
16,781 Ordinary Class E shares of £ 0.01 each
168
168
-------
-------
3,051
3,051
-------
-------
Allotted and called up:
2015
2014
No.
£
No.
£
Ordinary Class A shares of £ 0.01 each
122,046
1,220
122,046
1,220
Ordinary Class B shares of £ 0.01 each
152,558
1,526
152,558
1,526
Ordinary Class D shares of £ 0.01 each
13,730
137
13,730
137
Ordinary Class E shares of £ 0.01 each
16,781
168
16,781
168
---------
-------
---------
-------
305,115
3,051
305,115
3,051
---------
-------
---------
-------
The amounts of paid up share capital for the following categories of shares differed from the called up share capital stated above due to unpaid calls and were as follows:
2015
2014
£
£
Ordinary Class A shares
360
360
Ordinary Class D shares
779
779
Ordinary Class E shares
1,007
1,007
-------
-------
2,146
2,146
-------
-------