Registered Number 05861613

ABACUS SALES AND MARKETING LTD

Abbreviated Accounts

30 June 2016

ABACUS SALES AND MARKETING LTD Registered Number 05861613

Abbreviated Balance Sheet as at 30 June 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 921 1,228
921 1,228
Current assets
Stocks 6,984 6,149
Debtors 3,818 4,697
Cash at bank and in hand 17,608 15,118
28,410 25,964
Creditors: amounts falling due within one year (33,479) (24,329)
Net current assets (liabilities) (5,069) 1,635
Total assets less current liabilities (4,148) 2,863
Provisions for liabilities - (91)
Total net assets (liabilities) (4,148) 2,772
Capital and reserves
Called up share capital 3 100 100
Profit and loss account (4,248) 2,672
Shareholders' funds (4,148) 2,772
  • For the year ending 30 June 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 March 2017

And signed on their behalf by:
G. Dawson, Director

ABACUS SALES AND MARKETING LTD Registered Number 05861613

Notes to the Abbreviated Accounts for the period ended 30 June 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment - 25% reducing balance

Other accounting policies
STOCK
Stock is valued at the lower of cost and net realisable value.

GOING CONCERN
As at 30 June 2016, the company's liabilities exceeded its assets by £4,148. The company is therefore heavily dependent on the continued support of its directors and creditors. On the assumption that this support will continue, the accounts have been prepared on a going concern basis.

2Tangible fixed assets
£
Cost
At 1 July 2015 2,749
Additions -
Disposals -
Revaluations -
Transfers -
At 30 June 2016 2,749
Depreciation
At 1 July 2015 1,521
Charge for the year 307
On disposals -
At 30 June 2016 1,828
Net book values
At 30 June 2016 921
At 30 June 2015 1,228
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
100 Ordinary shares of £1 each 100 100