Abacus Accountancy Services (East Anglia) Ltd |
For the year ended 31 May 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 07244306
Abacus Accountancy Services (East Anglia) Ltd
For the year ended 31 May 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Abacus Accountancy Services (East Anglia) Ltd
Accountants' Report
For the year ended 31 May 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 |
May 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil |
your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Abacus Accountancy Services (East Anglia) Ltd
10 Sage Avenue
Downham Market
Norfolk
PE38 9UF
24 February 2017
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Abbreviated Balance Sheet |
Abacus Accountancy Services (East Anglia) Ltd
2016
2015
2
3,635
2,786
3,635
2,786
450
450
7,509
9,533
28,863
13,561
38,846
21,520
Creditors: amounts falling due within one year |
(8,793)
(19,172)
12,727
19,674
Net current assets
Total assets less current liabilities |
23,309
15,513
(557)
(557)
Provisions for liabilities |
22,752
Net assets
14,956
3
3
3
22,749
14,953
22,752
14,956
Shareholders funds
For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
2) 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. |
Date approved by the board: 24 February 2017 |
Mr James Charnley Director |
Signed on behalf of the board of directors |
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Notes to the Abbreviated Financial Statements |
Abacus Accountancy Services (East Anglia) Ltd
For the year ended 31 May 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred. |
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the |
shareholders prior to the balance sheet date. |
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: |
Motor Vehicles
Fixtures and Fittings
Stocks and work in progress |
Stocks and work in progress 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. |
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Notes to the Abbreviated Financial Statements |
Abacus Accountancy Services (East Anglia) Ltd
For the year ended 31 May 2016
5,579
849
6,428
2,793
2,793
3,635
2,786
1 Ordinary share of £1.00 each |
2 A Ordinary shares of £1.00 each |
Allotted called up and fully paid |
2016
2015
1 Ordinary share of £1.00 each |
1
1
2 A Ordinary shares of £1.00 each |
2
2
3
3
4 of 4