FAB Accountants Ltd Accounts

FAB ACCOUNTANTS LTD - Company Information






FAB Accountants Ltd
	Company No. 07985720
		Abbreviated Accounts
		31 March 2016

at	31 March 2016

Company No.		07985720	Notes	2016	2015
				£	£
Fixed assets
	Intangible assets		2	16,088	24,088
	Tangible assets		2	10,700	2,184

				26,788	26,272
Current assets

	Debtors			45,979	46,666

	Cash at bank and in hand			13	1,238
				45,992	47,904
Creditors: Amounts falling due within one year				(72,671)	(73,955)
Net current liabilities				(26,679)	(26,051)
Total assets less current liabilities				109	221




Net assets				109	221

Capital and reserves
	Called up share capital		3	111	111



	Profit and loss account			(2)	110

Shareholder's funds				109	221

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015).

For the year ended 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 21 December 2016

And signed on its behalf by:

J.C. Burton
Director
21 December 2016

for the year ended 31 March 2016

Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) ["the FRSSE"].

Turnover

Turnover represents the amounts (excluding value added tax) derived from the provision of goods and services to customers.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Furniture, fittings and equipment

20% Straight line

Intangible fixed assets and amortisation

Intangible fixed assets (including purchased goodwill, patents and trademarks and research and development costs) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is reviewed where circumstances indicate that the carrying value of an assets may not be fully recoverable.

Deferred taxation

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 obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based upon current tax rates and laws.
Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.
Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.

Pension costs

Contributions in respect of the company's defined contribution pension scheme are charged to the profit and loss account for the year in which they are payable to the scheme. Differences between contributions payable and contributions actually paid in the year are shown as either accruals or prepayments at the year end.

2	Fixed assets
		Intangible fixed assets	Tangible fixed assets	Total
		£	£	£
	Cost or revaluation
	At 1 April 2015	40,000	3,261	43,261
	Additions	-	10,900	10,900


	Disposals	-	(345)	(345)
	At 31 March 2016	40,000	13,816	53,816
	Amortisation
	At 1 April 2015	15,912	1,077	16,989
	Charge for the year	8,000	2,217	10,217


	Disposals	-	(178)	(178)
	At 31 March 2016	23,912	3,116	27,028
	Net book values
	At 31 March 2016	16,088	10,700	26,788
	At 31 March 2015	24,088	2,184	26,272

3	Share Capital
		Nominal value	2016	2016	2015
		£	Number	£	£
	Allotted, called up and fully paid:
	Ordinary	1.00	10	10	10
	A Ordinary	1.00	100	100	100
	B Ordinary	1.00	1	1	1


				111	111