A B S Hovercraft Limited - Abbreviated accounts 16.1
A B S Hovercraft Limited - Abbreviated accounts 16.1
REGISTERED NUMBER: |
A B S HOVERCRAFT LIMITED |
ABBREVIATED UNAUDITED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
A B S HOVERCRAFT LIMITED (REGISTERED NUMBER: 02865133) |
CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
Page |
Abbreviated Balance Sheet | 1 |
Notes to the Abbreviated Accounts | 2 |
A B S HOVERCRAFT LIMITED (REGISTERED NUMBER: 02865133) |
ABBREVIATED BALANCE SHEET |
31 DECEMBER 2015 |
2015 | 2014 |
Notes | £ | £ |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 2 |
Profit and loss account | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The director acknowledges his 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 were approved by the director on |
A B S HOVERCRAFT LIMITED (REGISTERED NUMBER: 02865133) |
NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE YEAR ENDED 31 DECEMBER 2015 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts have been prepared on a going concern basis. The company is reliant upon the support of the |
holding company in order to continue its activities. The directors have obtained written confirmation that this |
support will continue for the foreseeable future. |
Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
2. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
Ordinary | £1 |
3. | ULTIMATE PARENT COMPANY |
The shares of ABS Hovercraft Limited were transferred to the company director Mr K Blum on 20 April 2015 |
and Innovest Limited ceased to be the ultimate parent company. |
Innovest Limited agreed to write off the a loan amount of £1,823,617 in the year. It was agreed that the |
remaining loan balance of £672,821 be transferred to K Blum, the company director. |
Innovest Limited was dissolved on 3 June 2015. |