Company Registration No. 4183036 (England and Wales)
THE ABEL PARTNERSHIP LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2016
THE ABEL PARTNERSHIP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
THE ABEL PARTNERSHIP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 NOVEMBER 2016
30 November 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
1
1
Tangible assets
2
20,072
21,505
20,073
21,506
Current assets
Debtors
275,764
75,472
Cash at bank and in hand
41,796
36,587
317,560
112,059
Creditors: amounts falling due within one year
(90,148)
(40,628)
Net current assets
227,412
71,431
Total assets less current liabilities
247,485
92,937
Capital and reserves
Called up share capital
3
2
2
Profit and loss account
247,483
92,935
Shareholders' funds
247,485
92,937
For the financial year ended 30 November 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 28 August 2017
G R Rautenbach
L J Rautenbach
Director
Director
Company Registration No. 4183036
THE ABEL PARTNERSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 NOVEMBER 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 services provided net of VAT and trade discounts. Income is recognised in the period to which it relates.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land 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:
Improvements to premises
10% straight line
Plant and machinery
15% on reducing balance
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 December 2015
1
31,650
31,651
Additions
-
1,781
1,781
At 30 November 2016
1
33,431
33,432
Depreciation
At 1 December 2015
-
10,145
10,145
Charge for the year
-
3,214
3,214
At 30 November 2016
-
13,359
13,359
Net book value
At 30 November 2016
1
20,072
20,073
At 30 November 2015
1
21,505
21,506
THE ABEL PARTNERSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
2 Ordinary shares of £1 each
2
2
4
Control
The company is jointly controlled by G R Rautenbach and L J Rautenbach by virtue of their shareholdings.
5
Related party relationships and transactions
Included within other debtors is the directors' loan account balance of £ 171,965 ( 201 5 : £5,659). The maximum amount overdrawn in the year was £169,603 and the company charged interest of £2,362 on the overdrawn amount.debtors is the directors' loan account balance of £171,965 (2015: £5,659). The maximum amount overdrawn in the year was £169,603 and the company charged interest of £2,362 on the overdrawn amount.