Abbreviated Company Accounts - SELA EDUCATIONAL INITIATIVES LIMITED

Abbreviated Company Accounts - SELA EDUCATIONAL INITIATIVES LIMITED

SELA EDUCATIONAL INITIATIVES LIMITED - Company Information

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Registered Number 07230902

SELA EDUCATIONAL INITIATIVES LIMITED

Abbreviated Accounts

30 April 2016

SELA EDUCATIONAL INITIATIVES LIMITED Registered Number 07230902

Abbreviated Balance Sheet as at 30 April 2016

Notes 2016 2015
£ £
Current assets
Debtors 32,468 37,456
32,468 37,456
Creditors: amounts falling due within one year (1,100) (1,050)
Net current assets (liabilities) 31,368 36,406
Total assets less current liabilities 31,368 36,406
Total net assets (liabilities) 31,368 36,406
Capital and reserves
Called up share capital 2 100 100
Profit and loss account 31,268 36,306
Shareholders' funds 31,368 36,406
  • For the year ending 30 April 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 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 24 January 2017

And signed on their behalf by:
APM Holding (Cyprus) Limited, Director

SELA EDUCATIONAL INITIATIVES LIMITED Registered Number 07230902

Notes to the Abbreviated Accounts for the period ended 30 April 2016

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
Turnover represents amounts derived from the company's principal activity. Turnover is recognised once the terms of the agreement have been fulfilled.

Other accounting policies
Compliance with and departure from accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

The company has not disclosed the ultimate controlling party which is a requirement of the Financial Reporting Standard for Smaller Entities (effective January 2015). This is a departure from accounting standards. The director is of the opinion that the non disclosure of this information does not affect the truth and fairness of the financial statements.


Deferred taxation

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.


Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the balance sheet date.

Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction.

Exchange gains and losses are recognised in the Profit and loss account.

2Called Up Share Capital
Allotted, called up and fully paid:
2016
£		 2015
£
1 Ordinary shares of £100 each 100 100