Abacuss Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 07616304 (England and Wales)

ABACUSS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31ST MARCH 2018

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

DIRECTOR:

Mr M L Scott

SECRETARY:

Mr M L Scott

REGISTERED OFFICE:

Wakefield House

Cardigan Road

MARLBOROUGH

Wiltshire

SN8 1LB

REGISTERED NUMBER:

07616304 (England and Wales)

ACCOUNTANTS:

Morris Owen

Chartered Accountants

43-45 Devizes Road

SWINDON

Wiltshire

SN1 4BG

FIXED ASSETS

Tangible assets

4

202

-

CURRENT ASSETS

Debtors

5

12,222

19,617

Cash at bank and in hand

12,719

5,813

24,941

25,430

CREDITORS

Amounts falling due within one year

6

22,017

11,415

NET CURRENT ASSETS

2,924

14,015

TOTAL ASSETS LESS CURRENT
LIABILITIES

3,126

14,015

CAPITAL AND RESERVES

Called up share capital

7

6,060

Retained earnings

8

(2,934

)

7,955

SHAREHOLDERS' FUNDS

3,126

14,015

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director on 26th September 2018 and were signed by:

Mr M L Scott - Director

1.	STATUTORY INFORMATION

Abacuss Ltd is a private limited company, limited by shares, registered in England and Wales. The

company's registered office address is Wakefield House, Cardigan Road, Marlborough, SN8 1LB.

The company's registered number can be found on the statement of financial position.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

In preparing these financial statements, the directors have made the following judgements:

- Determine an appropriate provision for bad and doubtful debts by assessing the recoverability of

all balances on a balance by balance basis.

- Determine the period of useful economic life and any residual value of all tangible fixed assets

order to write off the value of each asset over that period.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Financial instruments

Short term debtors are measured at transaction price, less any impairment. Loans receivable are

measured initially at fair value, net of transaction costs, and are measured subsequently at

amortised cost using the effective interest method, less any impairment.

Short term creditors are measured at transaction price, less any impairment. Other financial

liabilities, including loans, are measured initially at fair value, net of transaction costs, and are

measured subsequently at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income

Statement, except to the extent that it relates to items recognised in other comprehensive income

or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have

been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed

at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods

different from those in which they are recognised in financial statements. Deferred tax is

measured using tax rates and laws that have been enacted or substantively enacted by the year

end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is

probable that they will be recovered against the reversal of deferred tax liabilities or other future

taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the

company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

217

At 31st March 2018

217

DEPRECIATION

Charge for year

15

At 31st March 2018

15

NET BOOK VALUE

At 31st March 2018

202

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade debtors

10,137

18,737

Other debtors

2,085

880

12,222

19,617

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

Trade creditors

267

-

Taxation and social security

19,092

9,335

Other creditors

2,658

2,080

22,017

11,415

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2018

2017

value:

£

4,000

Ordinary A

£1

4,000

2,060

Ordinary B

£1

2,060

6,060

8.

RESERVES

Dividends declared were based on management figures which in the event slightly over-estimated

the expected income in the last few weeks of the financial year. However, the situation was

corrected immediately following the end of the period.

Abacuss Ltd - Accounts to registrar (filleted) - small 18.2

Abacuss Ltd - Accounts to registrar (filleted) - small 18.2