Avalon IT Services Limited - Period Ending 2015-12-31

Registration number: 07467339

Avalon IT Services Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015
 

Saul Fairholm Limited
12 Tentercroft Street
Lincoln
LN5 7DB

Avalon IT Services Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

Avalon IT Services Limited
(Registration number: 07467339)
Abbreviated Balance Sheet at 31 December 2015

		Note			2015 £			2014 £
Fixed assets
Tangible fixed assets		2			22,340			168,042
Current assets
Stocks					200			150
Debtors					160,437			123,304
Cash at bank and in hand					35,651			26,566
					196,288			150,020
Creditors: Amounts falling due within one year		3			(189,950)			(99,254)
Net current assets					6,338			50,766
Total assets less current liabilities					28,678			218,808
Creditors: Amounts falling due after more than one year		3			-			(96,720)
Provisions for liabilities					(4,549)			(13,003)
Net assets					24,129			109,085
Capital and reserves
Called up share capital		4			100			100
Profit and loss account					24,029			108,985
Shareholders' funds					24,129			109,085

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 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 29 September 2016 and signed on its behalf by:

.........................................
Mr R J Bradbury
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Avalon IT Services Limited
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).

Turnover

Revenue represents the fair value of consideration received or receivable for the sale of computer consultancy services, net of discounts and sales taxes. Revenue is recognised when it is probable that the economic benefits associated with a transaction will flow to the Company and the amount of revenue and associated costs can be measured reliably.

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
Freehold land and buildings	not depreciated
Plant and machinery	20% reducing balance
Motor vehicles	25% reducing balance
Office equipment	20% reducing balance

Stock

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligatino to pay more, or less, tax at a future date, at the average tax rates that are expected to apply when the timing differences revers, based on current tax rates and laws.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets being purchased under finance lease and hire purchase contracts are capitalised and depreciated over their estimated useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.

Page 2

Avalon IT Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 January 2015		176,231			176,231
Additions		10,241			10,241
Disposals		(154,348)			(154,348)
At 31 December 2015		32,124			32,124
Depreciation
At 1 January 2015		8,189			8,189
Charge for the year		3,614			3,614
Eliminated on disposals		(2,019)			(2,019)
At 31 December 2015		9,784			9,784
Net book value
At 31 December 2015		22,340			22,340
At 31 December 2014		168,042			168,042

3

Creditors

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

		2015 £			2014 £
Amounts falling due within one year		-			7,618
Amounts falling due after more than one year		-			96,720
Total secured creditors		-			104,338

Included in the creditors are the following amounts due after more than five years:

		2015 £			2014 £
After more than five years by instalments		-			66,247

Page 3

Avalon IT Services Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
A Ordinary of £1 each		80			80			80			80
B Ordinary of £1 each		20			20			20			20
		100			100			100			100

5

Control

The company is controlled by Mr and Mrs R Bradbury by virtue of their respective shareholdings.

Page 4