ACCOUNTS - Final Accounts

Registered number: 07033978

ABACAS STUDIOS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

ABACAS STUDIOS LIMITED

COMPANY INFORMATION

Directors	H G Whitmore
	Mrs R Whitmore


Registered number	07033978


Registered office	4 Aldwycks Close
	Shenley Church End
	Milton Keynes
	Buckinghamshire
	MK5 6HZ


Accountants	Haysom Silverton
	Chartered Accountants
	Chancery House
	199 Silbury Boulevard
	Milton Keynes
	Bucks
	MK9 1JL

ABACAS STUDIOS LIMITED

CONTENTS

	Page
Balance sheet	1 - 2

ABACAS STUDIOS LIMITED

REGISTERED NUMBER: 07033978

BALANCE SHEET

AS AT 31 DECEMBER 2016

		2016		2015
Note		£		£


Fixed assets			155,582		210,539
Current assets		18,885		16,752
Creditors: amounts falling due within one year	6	(172,976)		(224,564)
Net current liabilities			(154,091)		(207,812)
Total assets less current liabilities			1,491		2,727
Provisions for liabilities
Deferred taxation		(1,360)		(1,858)
			(1,360)		(1,858)
Net assets			131		869


Capital and reserves	131	869

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions available to companies subject to the micro entities' regime in Part 15 of the Companies Act 2006 and FRS 105: The Financial Reporting Standard applicable to the micro-entities Regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

H G Whitmore

Director

Date: 11 July 2017

The notes on page 4 form part of these financial statements.

Page 1

ABACAS STUDIOS LIMITED

REGISTERED NUMBER: 07033978

1.	Intangible assets

		Goodwill
		£
	Cost
	At 1 January 2016	525,000
	At 31 December 2016	525,000
	Amortisation
	At 1 January 2016	323,750
	Charge for the year	52,500
	At 31 December 2016	376,250
	Net book value
	At 31 December 2016	148,750
	At 31 December 2015	201,250

Page 2

ABACAS STUDIOS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

2.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2016	13,000	3,763	4,916	21,679
Additions	-	196	1,095	1,291
Disposals	-	-	(550)	(550)
At 31 December 2016	13,000	3,959	5,461	22,420
Depreciation
At 1 January 2016	6,067	1,786	4,537	12,390
Charge for the year on owned assets	2,600	741	406	3,747
Disposals	-	-	(549)	(549)
At 31 December 2016	8,667	2,527	4,394	15,588
Net book value
At 31 December 2016	4,333	1,432	1,067	6,832
At 31 December 2015	6,933	1,977	379	9,289

3.	Fixed asset investments





	At 31 December 2016
	At 31 December 2015

Page 3

ABACAS STUDIOS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Debtors

					2016	2015
					£	£


Trade debtors	11,445	7,324
Prepayments	2,924	2,944
Other debtors	-	35
	14,369	10,303

5.	Cash and cash equivalents
		2016	2015
		£	£

Cash at bank and in hand	2,826	4,759
	2,826	4,759

6.	Creditors: Amounts falling due within one year
		2016	2015
		£	£

Trade creditors	8,431	7,473
Corporation tax	780	1,800
Other taxation and social security	7,804	7,880
Accrued expenses	2,822	1,800
Directors' current accounts	153,139	205,611
	172,976	224,564

Page 4