| ANDREW SMITH COMMERCIAL PRACTICE LIMITED |
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| BALANCE SHEET |
| AS AT 30 September 2016 |
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Notes |
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2016 |
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2015 |
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£ |
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£ |
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| CURRENT ASSETS |
| Debtors |
84,478 |
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52,518 |
| Cash at bank and in hand |
1,482 |
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2,466 |
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85,960 |
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54,984 |
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| CREDITORS: Amounts falling due |
85,372 |
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54,862 |
| within one year |
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| NET CURRENT ASSETS |
588 |
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122 |
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| NET ASSETS |
588 |
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122 |
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| CAPITAL AND RESERVES |
| Called up share capital |
3 |
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1 |
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1 |
| Profit and loss account |
587 |
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121 |
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| SHAREHOLDERS' FUNDS |
588 |
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122 |
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| These abbreviated accounts have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006 and with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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| For the financial year ended 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. |
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| Members have not required the company to obtain an audit in accordance with section 476 of the Act. |
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| 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. |
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| Signed on behalf of the board of directors |
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| A C Smith |
| Director |
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| Date approved by the board: 30 June 2017 |
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| ANDREW SMITH COMMERCIAL PRACTICE LIMITED |
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| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2016 |
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| 1 |
STATEMENT OF ACCOUNTING POLICIES |
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Accounting convention |
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The accounts have been prepared under the historical cost convention and are based on accounts prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
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Turnover represents the value of consultancy services rendered, stated net of value added tax. |
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Tangible fixed assets |
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Fixed assets are stated at cost less accumulated depreciation. |
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Depreciation has been provided at the following rate so as to write off the cost less residual value of the assets over their estimated useful lives. |
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Computer equipment |
Straight line basis at 33.33% per annum |
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Financial instruments |
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Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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. |
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| 2 |
TANGIBLE ASSETS |
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Tangible assets |
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£ |
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Cost |
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At 1 October 2015 |
2,510 |
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At 30 September 2016 |
2,510 |
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Accumulated depreciation |
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At 1 October 2015 |
2,510 |
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At 30 September 2016 |
2,510 |
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Net book value |
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At 1 October 2015 |
- |
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At 30 September 2016 |
- |
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| 3 |
SHARE CAPITAL |
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Nominal value |
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Number |
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2016 |
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2015 |
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£ |
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£ |
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£ |
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Allotted, called up and fully paid: |
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Ordinary share |
1 |
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1 |
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1 |
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1 |
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| 4 |
DIRECTORS' TRANSACTIONS |
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The company made advances to the directors during the year. The following amounts were due to the company at the year end: |
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2016 |
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2015 |
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£ |
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£ |
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A C Smith and Mrs K Smith |
55,266 |
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13,719 |
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The maximum amounts due to the company from the directors during the year were as follows: |
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2016 |
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2015 |
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£ |
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£ |
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A C Smith and Mrs K Smith |
172,574 |
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89,287 |
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