Registered Number 06729028

ACADEMIC SUMMER LIMITED

Abbreviated Accounts

31 October 2016

ACADEMIC SUMMER LIMITED Registered Number 06729028

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 1,301 1,438
1,301 1,438
Current assets
Debtors 33,560 40,928
Cash at bank and in hand 21,149 13,542
54,709 54,470
Creditors: amounts falling due within one year (84,068) (68,464)
Net current assets (liabilities) (29,359) (13,994)
Total assets less current liabilities (28,058) (12,556)
Total net assets (liabilities) (28,058) (12,556)
Capital and reserves
Called up share capital 3 21 21
Profit and loss account (28,079) (12,577)
Shareholders' funds (28,058) (12,556)
  • For the year ending 31 October 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 21 July 2017

And signed on their behalf by:
Clive Lee, Director

ACADEMIC SUMMER LIMITED Registered Number 06729028

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The Accounts have been prepared on the Going concern basis. The company incurred a loss for the year of £15,502 resulting in a deficit on the Profit and Loss account of £28,079 and net liabilities on the Balance sheet of £28,058. The Directors are of the view that the company will firstly be able to obtain further funding and secondly to generate a Profit in future to enable the company to continue trading. The Directors therefore consider it appropriate for the Accounts to be prepared on a Going concern basis.

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover represents net invoiced sales, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc - 25% on cost

2Tangible fixed assets
£
Cost
At 1 November 2015 4,557
Additions 604
Disposals -
Revaluations -
Transfers -
At 31 October 2016 5,161
Depreciation
At 1 November 2015 3,119
Charge for the year 741
On disposals -
At 31 October 2016 3,860
Net book values
At 31 October 2016 1,301
At 31 October 2015 1,438
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
510 A Ordinary shares of £0.01 each 5 5
490 B Ordinary shares of £0.01 each 5 5
1,100 Ordinary C & D shares shares of £0.01 each 11 11

4Transactions with directors

Name of director receiving advance or credit: C Lee
Description of the transaction: Director's loan
Balance at 1 November 2015: £ 9,291
Advances or credits made: -
Advances or credits repaid: £ 9,291
Balance at 31 October 2016: £ 0
Name of director receiving advance or credit: H Lami
Description of the transaction: Director's loan
Balance at 1 November 2015: £ 8,869
Advances or credits made: -
Advances or credits repaid: £ 8,869
Balance at 31 October 2016: £ 0