Micro-entity Accounts - ACTION ENGLISH LANGUAGE TRAINING LIMITED

ACTION ENGLISH LANGUAGE TRAINING LIMITED - Company Information

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Registered Number 07877050

ACTION ENGLISH LANGUAGE TRAINING LIMITED

Micro-entity Accounts

31 December 2016

ACTION ENGLISH LANGUAGE TRAINING LIMITED Registered Number 07877050

Micro-entity Balance Sheet as at 31 December 2016

	Notes	2016	2015
		£	£
Called up share capital not paid		-	-
Fixed assets
Intangible assets	1	2,262	7,915
Tangible assets	2	2,458	4,403
		4,720	12,318
Current assets
Debtors		2,026	-
Cash at bank and in hand		9,474	14,788
		11,500	14,788
Prepayments and accrued income		1,354	9,186
Creditors: amounts falling due within one year		(19,445)	(31,968)
Net current assets (liabilities)		(6,591)	(7,994)
Total assets less current liabilities		(1,871)	4,324
Accruals and deferred income		(5,472)	(4,180)
Total net assets (liabilities)		(7,343)	144
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		(7,345)	142
Shareholders' funds		(7,343)	144

For the year ending 31 December 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.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 31 March 2017

And signed on their behalf by:
Sarah Turnbull, Director

ACTION ENGLISH LANGUAGE TRAINING LIMITED Registered Number 07877050

Notes to the Micro-entity Accounts for the period ended 31 December 2016

1Intangible fixed assets

	£
Cost
At 1 January 2016	21,200
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2016	21,200
Amortisation
At 1 January 2016	13,285
Charge for the year	5,653
On disposals	-
At 31 December 2016	18,938
Net book values
At 31 December 2016	2,262
At 31 December 2015	7,915

2Tangible fixed assets

	£
Cost
At 1 January 2016	13,407
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2016	13,407
Depreciation
At 1 January 2016	9,004
Charge for the year	1,945
On disposals	-
At 31 December 2016	10,949
Net book values
At 31 December 2016	2,458
At 31 December 2015	4,403

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2

4Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102.
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015.

Turnover policy
Turnover is measured at the fair value of the consideration received or receivable for goods
upplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets depreciation policy
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold properties - Straight line over the life of the lease
Plant and machinery - 25% straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Intangible assets amortisation policy
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 5 years.