Company Registration No. 04787256 (England and Wales)
AVICENNA PARTNERSHIP LIMITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
AVICENNA PARTNERSHIP LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
AVICENNA PARTNERSHIP LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 JUNE 2016
30 June 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
194
Current assets
Debtors
162,649
197,768
Cash at bank and in hand
122,825
204,774
285,474
402,542
Creditors: amounts falling due within one year
(29,911)
(50,395)
Net current assets
255,563
352,147
Total assets less current liabilities
255,563
352,341
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
255,463
352,241
Shareholders' funds
255,563
352,341
For the financial year ended 30 June 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 28 March 2017
Ms C R de Gruchy
Director
Company Registration No. 04787256
AVICENNA PARTNERSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 JUNE 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment
25% straight line
1.4
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
1.5
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.
2
Fixed assets
Tangible assets
£
Cost
At 1 July 2015 & at 30 June 2016
8,333
Depreciation
At 1 July 2015
8,139
Charge for the year
194
At 30 June 2016
8,333
Net book value
At 30 June 2016
-
At 30 June 2015
194
AVICENNA PARTNERSHIP LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100
4
Transactions with directors
At the year end, the director Ms C R de Gruchy owed the company £54,421 (2015: £55,142 ). Interest of £1,620 (2015: £1,607) has been charged during the year at the official rate as determined by HM Revenue & Customs. There is no fixed date for repayment.
At the year end, the director Mr W Kennedy owed the company £54,621 (2015: £58,312). Interest of £1,669 (2015: £1,530) has been charged during the year at the official rate as determined by HM Revenue & Customs. There is no fixed date for repayment.