Austen Administration Ltd - Period Ending 2015-12-31

Registration number: 07892326

Austen Administration Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Cheshire
CW12 4BA

Austen Administration Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

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 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Austen Administration Ltd
for the Year Ended 31 December 2015

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Austen Administration Ltd for the year ended 31 December 2015 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Austen Administration 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 Austen Administration Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Austen Administration Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Austen Administration 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 loss of Austen Administration Ltd. You consider that Austen Administration 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 Austen Administration 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.

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

Paul Austen Associates Ltd
Chartered Accountants
Charter House
7-9 Wagg Street
Congleton
Cheshire
CW12 4BA

26 September 2016

Page 1

Austen Administration Ltd
(Registration number: 07892326)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			(As restated) 2014 £
Current assets
Debtors					-			5,103
Cash at bank and in hand					11,892			15,730
					11,892			20,833
Creditors: Amounts falling due within one year					(16,275)			(19,399)
Net (liabilities)/assets					(4,383)			1,434
Capital and reserves
Called up share capital		3			2			2
Profit and loss account					(4,385)			1,432
Shareholders' (deficit)/funds					(4,383)			1,434

For the year ending 31 December 2015 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 director acknowledges his 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 director on 26 September 2016

.........................................
Mr Paul Austen
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Austen Administration Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... 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).

Going concern

The financial statements have been prepared on a going concern basis. The company has net liabilities due to an amount owed to the director. However the director has pedged their ongoing support to the company and therefroe the company continues to prepare its accounts on a going concern basis.

Turnover

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

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.

2

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due within one year		16,275			9,352

3	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary share of £1 each		1			1			1			1
A Ordinary share of £1 each		1			1			1			1
		2			2			2			2

Page 3

Austen Administration Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

4	Prior period adjustments

The prior year has been adjusted to reflect the incorrect recording of a dividend in the year to 31st December 2014, this was in fact a repayment of the directors loan account and the accounts have been restated to correctly show a true and fair view.

5	Related party transactions

Director's advances and credits

	2015 Advance/ Credit £	2015 Repaid £	2014 Advance/ Credit £	2014 Repaid £
Mr Paul Austen
Amounts loaned to the company from the director for payment of business expenses	16,275	-	9,352	-

Page 4