Company Registration No. 03918844 (England and Wales)
ABC FINANCE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
ABC FINANCE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ABC FINANCE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
1,675
1,688
Current assets
Debtors
19,964
11,761
Cash at bank and in hand
37,648
30,209
57,612
41,970
Creditors: amounts falling due within one year
(53,131)
(33,769)
Net current assets
4,481
8,201
Total assets less current liabilities
6,156
9,889
Provisions for liabilities
(248)
(232)
5,908
9,657
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
5,808
9,557
Shareholders' funds
5,908
9,657
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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 19 May 2017
Mr P Hemming
Director
Company Registration No. 03918844
ABC FINANCE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 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.
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% on a reducing balnce basis
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015
13,397
Additions
410
At 31 August 2016
13,807
Depreciation
At 1 September 2015
11,709
Charge for the year
423
At 31 August 2016
12,132
Net book value
At 31 August 2016
1,675
At 31 August 2015
1,688
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 ordinary of £1 each
100
100