Serif Design & Communications Ltd - Period Ending 2016-09-30

Registration number: 6383519

Serif Design & Communications Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016
 

Aims Accountants
Chartered Accountants
Tudor House
The Green
Great Bentley
Colchester
Essex
CO7 8PG

Serif Design & Communications 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
Serif Design & Communications Ltd
for the Year Ended 30 September 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Serif Design & Communications Ltd for the year ended 30 September 2016 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 Serif Design & Communications 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 Serif Design & Communications 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 Serif Design & Communications Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Serif Design & Communications 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 Serif Design & Communications Ltd. You consider that Serif Design & Communications 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 Serif Design & Communications 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.

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

Aims Accountants
Chartered Accountants
Tudor House
The Green
Great Bentley
Colchester
Essex
CO7 8PG

31 October 2016

Page 1

Serif Design & Communications Ltd
(Registration number: 6383519)
Abbreviated Balance Sheet at 30 September 2016

		Note			2016 £			2015 £
Fixed assets
Tangible fixed assets					6,009			4,723
Current assets
Stocks					10,425			8,500
Debtors					27,277			25,525
Cash at bank and in hand					10,007			50,000
					47,709			84,025
Creditors: Amounts falling due within one year					(52,158)			(87,413)
Net current liabilities					(4,449)			(3,388)
Net assets					1,560			1,335
Capital and reserves
Called up share capital		3			1,000			1,000
Profit and loss account					560			335
Shareholders' funds					1,560			1,335

For the year ending 30 September 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 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 31 October 2016

.........................................
Colin Williams
Director

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

Serif Design & Communications Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 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, net of value added tax, 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
Office Equipment	25% Reducing Balance Basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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 3

Serif Design & Communications Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

		Tangible assets £			Total £
Cost
At 1 October 2015		11,476			11,476
Additions		3,289			3,289
At 30 September 2016		14,765			14,765
Depreciation
At 1 October 2015		6,753			6,753
Charge for the year		2,003			2,003
At 30 September 2016		8,756			8,756
Net book value
At 30 September 2016		6,009			6,009
At 30 September 2015		4,723			4,723

3	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary of £1 each		1,000			1,000			1,000			1,000

Page 4