ABZ Solutions Ltd - Period Ending 2016-03-31

Registration number: SC453021

ABZ Solutions Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2016
 

Mint Strategies Ltd t/a Mint Accounting
56 King Street
Aberdeen
AB24 5AX

ABZ Solutions Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 6

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 6) have been prepared.

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ABZ Solutions Ltd
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABZ Solutions Ltd for the year ended 31 March 2016 set out on pages 2 to 6 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 ABZ Solutions 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 ABZ Solutions Ltd and state those matters that we have agreed to state to them, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABZ Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABZ Solutions 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 ABZ Solutions Ltd. You consider that ABZ Solutions 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 ABZ Solutions 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.

......................................

Mint Strategies Ltd t/a Mint Accounting
56 King Street
Aberdeen
AB24 5AX

19 August 2016

Page 1

ABZ Solutions Ltd
(Registration number: SC453021)
Abbreviated Balance Sheet at 31 March 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					14,384			18,640
Current assets
Debtors					7,939			12,822
Cash at bank and in hand					7,037			18,095
					14,976			30,917
Creditors: Amounts falling due within one year					(15,425)			(16,884)
Net current (liabilities)/assets					(449)			14,033
Total assets less current liabilities					13,935			32,673
Creditors: Amounts falling due after more than one year					(11,575)			(13,823)
Net assets					2,360			18,850
Capital and reserves
Called up share capital		3			101			101
Profit and loss account					2,259			18,749
Shareholders' funds					2,360			18,850

For the year ending 31 March 2016 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 19 August 2016 and signed on its behalf by:

.........................................
Mr Jim Cran
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

ABZ Solutions Ltd
(Registration number: SC453021)
Abbreviated Balance Sheet at 31 March 2016
......... continued

.........................................
Mrs Rosita Cran
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

ABZ Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... 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 January 2015).

Turnover

Turnover represents amounts chargeable in respect of the sale of goods and services to customers.

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
Motor vehciles	20% on cost
Office equipment	33% on cost
Fixtures and fittings	25% on cost

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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 4

ABZ Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 April 2015		23,303			23,303
Additions		639			639
At 31 March 2016		23,942			23,942
Depreciation
At 1 April 2015		4,663			4,663
Charge for the year		4,895			4,895
At 31 March 2016		9,558			9,558
Net book value
At 31 March 2016		14,384			14,384
At 31 March 2015		18,640			18,640

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100
Ordinary B shares of £1 each		1			1			1			1
		101			101			101			101

4	Related party transactions

Directors' advances and credits

	2016 Advance/ Credit £	2016 Repaid £	2015 Advance/ Credit £	2015 Repaid £
Mr Jim Cran
During the year the director provided the company with an interest free loan, which is unsecured, repayable on demand and shown under Other Creditors	10,200	6,485	14,492	18,997

Page 5

ABZ Solutions Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2016
......... continued

Mrs Rosita Cran
During the year the director provided the company with an interest free loan, which is unsecured, repayable on demand and shown under Other Creditors.	16,733	10,733	13,572	12,810

Page 6