Company Registration No. 01265110 (England and Wales)
ACCELERATED LEARNING SYSTEMS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2016
ACCELERATED LEARNING SYSTEMS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
ACCELERATED LEARNING SYSTEMS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Current assets
Stocks
4,469
5,894
Debtors
134,245
133,799
Investments
1
-
Cash at bank and in hand
1,647
1,636
140,362
141,329
Creditors: amounts falling due within one year
(34,318)
(24,403)
Total assets less current liabilities
106,044
116,926
Creditors: amounts falling due after more than one year
-
(21,107)
106,044
95,819
Capital and reserves
Called up share capital
2
15,100
15,100
Profit and loss account
90,944
80,719
Shareholders' funds
106,044
95,819
For the financial year ended 30 June 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 1 March 2017
Mr C. Rose
Director
Company Registration No. 01265110
ACCELERATED LEARNING SYSTEMS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 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
Research and development
Research expenditure is written off to the profit and loss account in the year in which it is incurred. Development expenditure is written off in the same way unless the directors are satisfied as to the technical, commercial and financial viability of individual projects. In this situation, the expenditure is deferred and amortised over the period during which the company is expected to benefit.
1.5
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
15% Straight Line & 33 1/3% Straight Line
1.6
Investments
Current asset investments are stated at the lower of cost and net realisable value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided at appropriate rates on all timing differences using the liability method only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability or asset will crystallise in the foreseeable future.
2
Share capital
2016
2015
£
£
Allotted, called up and fully paid
15,100 Ordinary shares of £1 each
15,100
15,100
3
Ultimate parent company
The ultimate parent company is C.J.R. Management Limited, a company registered in England and Wales.