Registration number:
Abbey Book Keeping Services Ltd
for the Year Ended 31 August 2017
2 Commercial House
Abbeymead Avenue
Gloucester
GL4 5UA
Abbey Book Keeping Services Ltd
Contents
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Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Abbey Book Keeping Services Ltd
Company Information
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Chairman |
Mrs Joanna Brotherton |
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Directors |
Mr Ian Andrew Brotherton Mrs Joanna Brotherton |
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Company secretary |
Mr Ian Andrew Brotherton |
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Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Abbey Book Keeping Services Ltd
for the Year Ended 31 August 2017
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abbey Book Keeping Services Ltd for the year ended 31 August 2017 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Abbey Book Keeping Services Ltd, 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 Abbey Book Keeping Services Ltd and state those matters that we have agreed to state to the Board of Directors of Abbey Book Keeping Services Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Book Keeping Services Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Abbey Book Keeping Services Ltd 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 Abbey Book Keeping Services Ltd. You consider that Abbey Book Keeping Services Ltd 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 Abbey Book Keeping Services Ltd. 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.
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Abbeymead Avenue
Gloucester
GL4 5UA
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Page 2 |
Abbey Book Keeping Services Ltd
(Registration number: 06345824)
Balance Sheet as at 31 August 2017
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Note |
2017 |
2016 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 31 August 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Mrs Joanna Brotherton
Chairman
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Page 3 |
Abbey Book Keeping Services Ltd
Statement of Changes in Equity for the Year Ended 31 August 2017
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Share capital |
Profit and loss account |
Total |
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At 1 September 2016 |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 August 2017 |
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Share capital |
Profit and loss account |
Total |
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At 1 September 2015 |
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( |
( |
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Profit for the year |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
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At 31 August 2016 |
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Page 4 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
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General information |
The company is a private company limited by share capital incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office Equipment |
33% Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
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Page 5 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Page 6 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 September 2016 |
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At 31 August 2017 |
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Depreciation |
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At 1 September 2016 |
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At 31 August 2017 |
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Carrying amount |
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At 31 August 2017 |
- |
- |
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Debtors |
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2017 |
2016 |
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Other debtors |
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Total current trade and other debtors |
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Loans and borrowings |
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2017 |
2016 |
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Current loans and borrowings |
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Bank overdrafts |
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- |
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Dividends |
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2017 |
2016 |
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£ |
£ |
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Transition to FRS 102 |
Balance Sheet at 1 September 2015
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Page 7 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
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Page 8 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
Balance Sheet at 31 August 2016
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Capital and reserves |
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Total equity |
- |
- |
- |
- |
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Page 9 |
Abbey Book Keeping Services Ltd
Notes to the Financial Statements for the Year Ended 31 August 2017
Profit and Loss Account for the year ended 31 August 2016
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Note |
As originally reported |
Reclassification |
Remeasurement |
As restated |
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Turnover |
- |
- |
- |
- |
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Operating profit/(loss) |
- |
- |
- |
- |
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Profit/(loss) before tax |
- |
- |
- |
- |
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Profit/(loss) for the financial year |
- |
- |
- |
- |
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Page 10 |