A.B.A. DESIGN LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
Company Registration No. SC330866 (Scotland)
A.B.A. DESIGN LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
A.B.A. DESIGN LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Debtors
2,393
4,092
Cash at bank and in hand
1,217
246
3,610
4,338
Creditors: amounts falling due within one year
(3,402)
(4,330)
Total assets less current liabilities
208
8
Capital and reserves
Called up share capital
2
1
1
Profit and loss account
207
7
Shareholders' funds
208
8
For the financial year ended 30 June 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 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 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 13 March 2017
Alasdair Bell
Director
Company Registration No. SC330866
A.B.A. DESIGN LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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 January 2015).
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.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
1 Ordinary of £1 each
1
1
3
Ultimate parent company
The company is controlled by Alasdair Bell who owns 100% of the issued share capital.
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
£
£
£
£
£
Directors Loan
-
9
20,202
-
18,682
1,529
9
20,202
-
18,682
1,529
There are no fixed terms for the repayment of this amount, which does not bear interest. The closing balance is included in the accounts as 'Other debtors'.