Agnitio Accountants Ltd - Period Ending 2014-09-30

30 September 2014

Ordinary of £1 each

AGNITIO ACCOUNTANTS LTD - Company Information

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Registration number: 08580433

Agnitio Accountants Ltd

and Abbreviated Accounts

for the Period from 21 June 2013 to 30 September 2014

Agnitio Accountants Ltd
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Agnitio Accountants Ltd
(Registration number: 08580433)
Abbreviated Balance Sheet at 30 September 2014

	Note	30 September 2014 £
Fixed assets
Intangible fixed assets		290,000
Tangible fixed assets		102,723
		392,723
Current assets
Stocks		5,000
Debtors		97,672
Cash at bank and in hand		38,327
		140,999
Creditors: Amounts falling due within one year		(427,022)
Net current liabilities		(286,023)
Net assets		106,700
Capital and reserves
Called up share capital	3	2
Profit and loss account		106,698
Shareholders' funds		106,700

For the year ending 30 September 2014 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 directors acknowledge their 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 Board on 13 March 2015 and signed on its behalf by:

.........................................
Mr Kashif Ahmed
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Agnitio Accountants Ltd
Notes to the Abbreviated Accounts for the Period from 21 June 2013 to 30 September 2014
......... 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.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Goodwill is not being amortised.

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
Fixtures and fittings	10% straight line

Work in progress

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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.

Page 2

Agnitio Accountants Ltd
Notes to the Abbreviated Accounts for the Period from 21 June 2013 to 30 September 2014
......... continued

2	Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
Additions	290,000	114,137	404,137
At 30 September 2014	290,000	114,137	404,137
Depreciation
Charge for the period	-	11,414	11,414
At 30 September 2014	-	11,414	11,414
Net book value
At 30 September 2014	290,000	102,723	392,723

3	Share capital

Allotted, called up and fully paid shares

Page 3