| Registered Number:06061732 |
For the year ended 31 December 2016
England and Wales
Unaudited Financial Statements
For the year ended 31 December 2016
ABM News Limited
Contents Page
1
Statement of Financial Position
2 to 3
Notes to the Financial Statements
ABM News Limited
Statement of Financial Position
2015
2016
| Property, plant and equipment |
2,832
3,503
2
2,832
3,503
4,793
3,916
| Trade and other receivables |
1,803
5,024
3
12,217
| Cash and cash equivalents |
14,692
23,632
18,813
| Trade and other payables: amounts falling due within one |
| year |
(31,318)
(45,546)
4
(12,505)
(21,914)
Net current liabilities
| Total assets less current liabilities |
(19,082)
(9,002)
| Trade and other payables: amounts falling due after more |
| than one year |
(31,240)
(23,716)
5
(42,798)
Net liabilities
(40,242)
2
2
(42,800)
(40,244)
(42,798)
(40,242)
Shareholders' funds
| For the year ended 31 December 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges her responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of |
| each financial year and of its profit or loss for each financial year in accordance with the requirements of Section |
| 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial |
| statements, so far as applicable to the company. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies. |
| Famida Yakub Patel Director |
| These financial statements were approved and authorised for issue by the Board on 24 September 2017 and were signed by: |
| The notes form part of these financial statements |
1 of 3
For the year ended 31 December 2016
ABM News Limited
Notes to the Financial Statements
Statutory Information
| ABM News Limited is a private limited company, limited by shares, domiciled in England and Wales, registration |
| number 06061732. |
| Principal place of business: |
11 Deansgate
Bolton
Lancashire
BL1 1HH
22 Brocksby Chase
Bolton
Lancashire
BL1 2JH
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
| Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
| Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Fixtures and fittings
| No depreciation is provided on the company''s freehold properties since in the opinion of the directors the expected |
| useful lives are sufficiently long and the estimated residual values are sufficiently high that any such depreciation |
| would be immaterial. The directors undertake an annual impairment review of these properties. |
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2 of 3
For the year ended 31 December 2016
ABM News Limited
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
9,773
8,282
1,491
1,491
8,282
9,773
| Provision for depreciation and impairment |
6,270
6,270
-
Charge for year
671
671
-
6,941
6,941
-
1,491
1,341
2,832
1,491
2,012
3,503
| 3. Trade and other receivables |
2015
2016
5,024
1,803
| 4. Trade and other payables: amounts falling due within one year |
2015
2016
5,085
5,135
38,405
23,462
| Taxation and social security |
236
623
1,820
2,098
45,546
31,318
| 5. Trade and other payables: amounts falling due after more than one year |
2015
2016
23,716
31,240
3 of 3