Abstract Audio Limited - Period Ending 2015-09-30

Abstract Audio Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2015

Henry and Banwell Limited
Chartered Accountants
26 Berkeley Square
Clifton
Bristol
Bristol
BS8 1HP

Abstract Audio Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Abstract Audio Limited
for the Year Ended 30 September 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abstract Audio Limited for the year ended 30 September 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Abstract Audio Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Abstract Audio Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abstract Audio Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abstract Audio Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abstract Audio Limited. You consider that Abstract Audio Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Abstract Audio Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Henry and Banwell Limited
Chartered Accountants
26 Berkeley Square
Clifton
Bristol
Bristol
BS8 1HP

14 January 2016

Page 1

Abstract Audio Limited
(Registration number: 04899796)
Abbreviated Balance Sheet at 30 September 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets		7,425	9,257
Current assets
Cash at bank and in hand		23,656	40,764
Creditors: Amounts falling due within one year		(20,341)	(19,986)
Net current assets		3,315	20,778
Net assets		10,740	30,035
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		10,640	29,935
Shareholders' funds		10,740	30,035

For the year ending 30 September 2015 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 director acknowledges his 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 director on 14 January 2016

.........................................
Mr J Gunton
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Abstract Audio Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant & machinery	25% reducing balance basis

Research and development

Research and development expenditure is written off as incurred.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Abstract Audio Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2015
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 October 2014	67,589	67,589
Additions	521	521
At 30 September 2015	68,110	68,110
Depreciation
At 1 October 2014	58,332	58,332
Charge for the year	2,353	2,353
At 30 September 2015	60,685	60,685
Net book value
At 30 September 2015	7,425	7,425
At 30 September 2014	9,257	9,257

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary of £1 each		100	100		100	100

Page 4