ABBEY RENTALS (EYNSHAM) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 AUGUST 2016
Company Registration Number: 04920354
ABBEY RENTALS (EYNSHAM) LTD
ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
CONTENTS PAGES
Company information 1
Balance sheet 2 to 3
Notes to the abbreviated financial statements 4 to 6
ABBEY RENTALS (EYNSHAM) LTD
COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2016
DIRECTORS
C Dodds
J M Dodds
SECRETARY
J M Dodds
REGISTERED OFFICE
Harvestway House
28 High Street
Witney
Oxfordshire
OX28 6RA
COMPANY REGISTRATION NUMBER
04920354 England and Wales
ABBEY RENTALS (EYNSHAM) LTD
BALANCE SHEET
AS AT 31 August 2016
Notes 2016 2015
£ £
FIXED ASSETS
Intangible assets 2 - 1,666
Tangible assets 3 2,809 1,924
2,809 3,590
CURRENT ASSETS
Debtors 6,568 10,948
Cash at bank and in hand 44,410 10,298
50,978 21,246
CREDITORS: Amounts falling due 32,112 23,735
within one year
NET CURRENT ASSETS / (LIABILITIES) 18,866 (2,489)
TOTAL ASSETS LESS CURRENT LIABILITIES 21,675 1,101
Provisions for liabilities and charges 407 216
NET ASSETS 21,268 885
CAPITAL AND RESERVES
Called up share capital 4 1 1
Profit and loss account 21,267 884
SHAREHOLDER'S FUNDS 21,268 885
These abbreviated accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Signed on behalf of the board of directors
C Dodds J M Dodds
Director Director
Date approved by the board: 5 March 2017
ABBEY RENTALS (EYNSHAM) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
1 STATEMENT OF ACCOUNTING POLICIES
Accounting convention
The accounts have been prepared under the historical cost convention and are based on accounts prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
Turnover represents the provision of letting agency sales, stated net of value added tax.
Goodwill
Goodwill is being amortised on a straight line basis over 12 years, so as to write off the asset over its estimated useful economic life.
Tangible fixed assets
Fixed assets are stated at cost less accumulated depreciation.
Depreciation has been provided at the following rates so as to write off the cost less residual value of the assets over their estimated useful lives.
Fixtures and fittings Straight line basis at 25% per annum
Computer equipment Straight line basis at 33% per annum
Motor vehicles Reducing balance at 25% per annum
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Deferred taxation
Deferred taxation is the taxation attributable to timing differences between profits computed for taxation purposes and profits as stated in the financial statements and is fully provided for, except in circumstances where losses are deemed irrecoverable, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
2 INTANGIBLE ASSETS
Intangible assets
£
Cost
At 1 September 2015 20,000
At 31 August 2016 20,000
Accumulated amounts written off
At 1 September 2015 18,334
Charge for year 1,666
At 31 August 2016 20,000
Net book value
At 1 September 2015 1,666
At 31 August 2016 -
3 TANGIBLE ASSETS
Tangible assets
£
Cost
At 1 September 2015 11,485
Additions 1,818
Disposals (646)
At 31 August 2016 12,657
Accumulated depreciation
At 1 September 2015 9,561
Charge for year 933
Disposals (646)
At 31 August 2016 9,848
Net book value
At 1 September 2015 1,924
At 31 August 2016 2,809
4 SHARE CAPITAL
Nominal value Number 2016 2015
£ £ £
Allotted, called up and fully paid:
Ordinary share 1 1 1 1
5 DIRECTORS' TRANSACTIONS
The company made an advance to the directors during the year. The following amount was due to the company at the year end:
2016 2015
£ £
C and J M Dodds - 3,388
The maximum amounts due to the company from the directors during the year were as follows:
2016 2015
£ £
C and J M Dodds 15,918 3,388
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