Caseware UK (AP4) 2016.0.181 2016.0.181 2017-05-312017-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truefalseIT providerfalse2016-06-01 04399566 2016-06-01 2017-05-31 04399566 2015-06-01 2016-05-31 04399566 2017-05-31 04399566 2016-05-31 04399566 2015-06-01 04399566 c:Director2 2016-06-01 2017-05-31 04399566 d:MotorVehicles 2016-06-01 2017-05-31 04399566 d:MotorVehicles 2017-05-31 04399566 d:MotorVehicles 2016-05-31 04399566 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2016-06-01 2017-05-31 04399566 d:FurnitureFittings 2016-06-01 2017-05-31 04399566 d:FurnitureFittings 2017-05-31 04399566 d:FurnitureFittings 2016-05-31 04399566 d:OfficeEquipment 2016-06-01 2017-05-31 04399566 d:OfficeEquipment 2017-05-31 04399566 d:OfficeEquipment 2016-05-31 04399566 d:OfficeEquipment d:OwnedOrFreeholdAssets 2016-06-01 2017-05-31 04399566 d:OwnedOrFreeholdAssets 2016-06-01 2017-05-31 04399566 d:LeasedAssetsHeldAsLessee 2016-06-01 2017-05-31 04399566 d:CurrentFinancialInstruments 2017-05-31 04399566 d:CurrentFinancialInstruments 2016-05-31 04399566 d:Non-currentFinancialInstruments 2017-05-31 04399566 d:Non-currentFinancialInstruments 2016-05-31 04399566 d:CurrentFinancialInstruments d:WithinOneYear 2017-05-31 04399566 d:CurrentFinancialInstruments d:WithinOneYear 2016-05-31 04399566 d:Non-currentFinancialInstruments d:AfterOneYear 2017-05-31 04399566 d:Non-currentFinancialInstruments d:AfterOneYear 2016-05-31 04399566 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2016-05-31 04399566 d:ShareCapital 2017-05-31 04399566 d:ShareCapital 2016-05-31 04399566 d:ShareCapital 2015-06-01 04399566 d:RetainedEarningsAccumulatedLosses 2016-06-01 2017-05-31 04399566 d:RetainedEarningsAccumulatedLosses 2017-05-31 04399566 d:RetainedEarningsAccumulatedLosses 2015-06-01 2016-05-31 04399566 d:RetainedEarningsAccumulatedLosses 2016-05-31 04399566 d:RetainedEarningsAccumulatedLosses 2015-06-01 04399566 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2017-05-31 04399566 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2016-05-31 04399566 c:FRS102 2016-06-01 2017-05-31 04399566 c:AuditExempt-NoAccountantsReport 2016-06-01 2017-05-31 04399566 c:FullAccounts 2016-06-01 2017-05-31 04399566 c:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31 04399566 d:HirePurchaseContracts d:WithinOneYear 2017-05-31 04399566 d:HirePurchaseContracts d:WithinOneYear 2016-05-31 04399566 d:HirePurchaseContracts d:BetweenOneFiveYears 2017-05-31 04399566 d:HirePurchaseContracts d:BetweenOneFiveYears 2016-05-31 iso4217:GBP xbrli:pure

Registered number: 04399566









ABC NETWORKING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2017

 
ABC NETWORKING LIMITED
REGISTERED NUMBER: 04399566

BALANCE SHEET
AS AT 31 MAY 2017

2017
2016
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,562
11,768

  
14,562
11,768

Current assets
  

Stocks
 5 
3,000
3,000

Debtors: amounts falling due within one year
 6 
23,927
29,354

Cash at bank and in hand
 7 
55,343
45,142

  
82,270
77,496

Creditors: amounts falling due within one year
 8 
(64,587)
(59,736)

Net current assets
  
 
 
17,683
 
 
17,760

Total assets less current liabilities
  
32,245
29,528

Creditors: amounts falling due after more than one year
 9 
(10,329)
(17,060)

  

Net assets
  
21,916
12,468


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
21,816
12,368

  
21,916
12,468


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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with 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 on 16 February 2018.
Page 1

 
ABC NETWORKING LIMITED
REGISTERED NUMBER: 04399566
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2017




Mrs E J M McDonald
Director
The notes on pages 5 to 12 form part of these financial statements.

Page 2

 
ABC NETWORKING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2017


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2016
100
12,368
12,468


Comprehensive income for the year

Profit for the year

-
52,648
52,648


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
52,648
52,648

Dividends: Equity capital
-
(43,200)
(43,200)


Total transactions with owners
-
(43,200)
(43,200)


At 31 May 2017
100
21,816
21,916

Page 3

 
ABC NETWORKING LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2016


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 June 2015
100
6,577
6,677


Comprehensive income for the year

Profit for the year

-
46,791
46,791


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
46,791
46,791

Dividends: Equity capital
-
(41,000)
(41,000)


Total transactions with owners
-
(41,000)
(41,000)


At 31 May 2016
100
12,368
12,468


The notes on pages 5 to 12 form part of these financial statements.

Page 4

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

1.


General information

The entity is a private limited company incorporated in England & Wales. The company's Registered Office is located at Unit 15, Barnack Business Centre, Blakey Road, Salisbury, Wiltshire, SP1 2LP.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line method and the reducing balance basis..

Depreciation is provided on the following basis:

Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% straight line
Office equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first outbasis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

 
2.8

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

 
2.11

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight line basis over the lease term.

 
2.12

Borrowing costs

All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.

 
2.13

Taxation

Tax is recognised in the Statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2016 - 6).

Page 7

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

4.


Tangible fixed assets





Motor vehicles
Fixtures & fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 June 2016
17,359
7,726
33,964
59,049


Additions
-
-
8,688
8,688



At 31 May 2017

17,359
7,726
42,652
67,737



Depreciation


At 1 June 2016
7,595
7,726
31,960
47,281


Charge for the year on owned assets
-
-
3,453
3,453


Charge for the year on financed assets
2,441
-
-
2,441



At 31 May 2017

10,036
7,726
35,413
53,175



Net book value



At 31 May 2017
7,323
-
7,239
14,562



At 31 May 2016
9,764
-
2,004
11,768


5.


Stocks

2017
2016
£
£

Raw materials
3,000
3,000

3,000
3,000



6.


Debtors

2017
2016
£
£


Trade debtors
22,670
17,110

Other debtors
-
7,000

Prepayments and accrued income
1,257
5,244

23,927
29,354
Page 8

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

6.Debtors (continued)




7.


Cash and cash equivalents

2017
2016
£
£

Cash at bank and in hand
55,343
45,142

55,343
45,142



8.


Creditors: Amounts falling due within one year

2017
2016
£
£

Bank loans
4,334
5,988

Trade creditors
19,013
15,337

Corporation tax
12,378
12,590

Other taxation and social security
10,327
7,858

Obligations under finance lease and hire purchase contracts
2,071
2,071

Other creditors
15,464
14,892

Accruals and deferred income
1,000
1,000

64,587
59,736



9.


Creditors: Amounts falling due after more than one year

2017
2016
£
£

Bank loans
-
4,659

Net obligations under finance leases and hire purchase contracts
10,329
12,401

10,329
17,060



Secured loans

The hire purchase liability is secured against the motor vehicle purchased via the agreement.

Page 9

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

10.


Loans


Analysis of the maturity of loans is given below:


2017
2016
£
£

Amounts falling due within one year

Bank loans
4,334
5,988


4,334
5,988

Amounts falling due 1-2 years

Bank loans
-
4,659


-
4,659



4,334
10,647



11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2017
2016
£
£


Within one year
3,672
3,672

Between 1-5 years
9,095
12,767

12,767
16,439


12.


Financial instruments

2017
2016
£
£

Financial assets


Financial assets measured at fair value through profit or loss
55,343
45,142

55,343
45,142





Financial assets measured at fair value through profit or loss comprise cash at bank.

Page 10

 
ABC NETWORKING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

13.


Related party transactions

At year end the company owed Mrs. E. McDonald £5,982 (2016 £6,762), and Mr. D. McDonald £Nil (2016 was owed £7,000). During the year dividends were voted to each Director of £21,600 each (2016 £20,500 each)


14.


Controlling party

The company was controlled on a day-to-day basis by Mrs. E. McDonald, who with her husband, Mr D N D S McDonald owned 50% each of the share capital throughout the year. 

Page 11
 


 
ABC NETWORKING LIMITED


 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

15.


First time adoption of FRS 102

The policies applied under the entity's previous accounting framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.

 
Page 12