Abaci Accountancy Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03544979 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2020

FOR

ABACI ACCOUNTANCY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R Fatania

SECRETARY:

R Fatania

REGISTERED OFFICE:

38 Drummond Drive

Stanmore

Middlesex

HA7 3PD

REGISTERED NUMBER:

03544979 (England and Wales)

ACCOUNTANTS:

Abaci Accountancy Limited

38 Drummond Drive

Stanmore

Middlesex

HA7 3PD

FIXED ASSETS

Tangible assets

4

688

918

CURRENT ASSETS

Debtors

5

3,042

6,456

Cash at bank

14,125

3,517

17,167

9,973

CREDITORS

Amounts falling due within one year

6

5,966

10,349

NET CURRENT ASSETS/(LIABILITIES)

11,201

(376

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,889

542

PROVISIONS FOR LIABILITIES

7

129

154

NET ASSETS

11,760

388

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

11,758

386

SHAREHOLDERS' FUNDS

11,760

388

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5th November 2020 and were signed by:

R Fatania - Director

1.	STATUTORY INFORMATION

Abaci Accountancy Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws

that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal

of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st May 2019

and 30th April 2020

4,655

DEPRECIATION

At 1st May 2019

3,737

Charge for year

230

At 30th April 2020

3,967

NET BOOK VALUE

At 30th April 2020

688

At 30th April 2019

918

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

2,639

3,580

Other debtors

403

2,876

3,042

6,456

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

256

273

Taxation and social security

2,729

1,049

Other creditors

2,981

9,027

5,966

10,349

7.	PROVISIONS FOR LIABILITIES

2020

2019

£

£

Deferred tax

129

154

Deferred

tax

£

Balance at 1st May 2019

154

Credit to Income Statement during year

(25

)

Balance at 30th April 2020

129

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

2

Ordinary

£1

2

2