Company Registration No. 06106698 (England and Wales)
ABACUS CREDIT CONSULTANCY LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
ABACUS CREDIT CONSULTANCY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABACUS CREDIT CONSULTANCY LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
130
260
Current assets
Debtors
51,971
35,575
Cash at bank and in hand
226
14,057
52,197
49,632
Creditors: amounts falling due within one year
(51,351)
(49,914)
Net current assets/(liabilities)
846
(282)
Total assets less current liabilities
976
(22)
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
975
(23)
Shareholders' funds
976
(22)
For the financial year ended 31 March 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 member has not required the company to obtain an audit of its financial statements for the year 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 29 December 2016
T Battye
Director
Company Registration No. 06106698
ABACUS CREDIT CONSULTANCY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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 April 2008).
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 net of VAT and trade discounts.
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
20% straight line
1.5
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015 & at 31 March 2016
2,665
Depreciation
At 1 April 2015
2,405
Charge for the year
130
At 31 March 2016
2,535
Net book value
At 31 March 2016
130
At 31 March 2015
260
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 ordinary shares of £1 each
1
1
ABACUS CREDIT CONSULTANCY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
4
Related party relationships and transactions
Loans to directors
Transactions in relation to loans with directors during the year are outlined in the table below:
Description
% Rate
Opening Balance
Amounts Advanced
Interest Charged
Amounts Repaid
Closing Balance
£
£
£
£
£
T Battye - Director's Loan
3.00
23,865
93,371
730
(92,448)
25,518
23,865
93,371
730
(92,448)
25,518