Agenda IT Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 07240630 (England and Wales)

Agenda IT Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 May 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr M Adams

Miss N M Bird

SECRETARY:

REGISTERED OFFICE:

Great Bowden Road

Market Harborough

Leicestershire

LE16 7DE

REGISTERED NUMBER:

07240630 (England and Wales)

ACCOUNTANTS:

Grenfell James Associates Limited

3 The Courtyard

Timothys Bridge Road

Stratford Upon Avon

Warwickshire

CV37 9NP

FIXED ASSETS

Tangible assets

2

155

-

CURRENT ASSETS

Stocks

12,000

-

Debtors

171,274

152,395

Prepayments and accrued income

1,120

Cash at bank and in hand

-

13,701

184,394

167,216

CREDITORS

Amounts falling due within one year

155,386

153,751

NET CURRENT ASSETS

29,008

13,465

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,163

13,465

CREDITORS

Amounts falling due after more than one
year

2,367

4,837

NET ASSETS

26,796

8,628

CAPITAL AND RESERVES

Called up share capital

3

2

Profit and loss account

26,794

8,626

SHAREHOLDERS' FUNDS

26,796

8,628

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 30 January 2017 and were signed on its
behalf by:

Mr M Adams - Director

1.	ACCOUNTING POLICIES

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).

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Research and development

Expenditure on research and development is written off to the profit and loss in the year in which it is

incurred.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis

over the period of the lease.

Going concern

The company meets its day to day working capital requirements through bank overdraft and loan

facilities. The directors have considered the going concern assumption and have prepared forecasts

which indicate that it expects to operate within the facility currently agreed. On this basis the directors

are satisfied that it is appropriate to prepare the accounts on the going concern basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

207

At 31 May 2016

207

DEPRECIATION

Charge for year

52

At 31 May 2016

52

NET BOOK VALUE

At 31 May 2016

155

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

1

2

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company was owed by the director, Mr Mike Adams, £45,574

At the year end the company was owed by the director, Miss N Bird, £ 29,723