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Unaudited Financial Statements for the Year Ended 31 May 2020 |
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Abacus Accountancy Services (East |
Anglia) Ltd |
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Unaudited Financial Statements for the Year Ended 31 May 2020 |
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for |
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Abacus Accountancy Services (East |
Anglia) Ltd |
Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Contents of the Financial Statements |
for the Year Ended 31 May 2020 |
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Page |
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Company Information | 1 |
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Chartered Certified Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Abacus Accountancy Services (East |
Anglia) Ltd |
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Company Information |
for the Year Ended 31 May 2020 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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BUSINESS ADDRESS: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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3 Stallion Close |
Downham Market |
Norfolk |
PE38 9GL |
Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Abacus Accountancy Services (East |
Anglia) Ltd |
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The following reproduces the text of the report prepared for the directors in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to |
file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and |
the Report of the Directors are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Abacus Accountancy Services (East Anglia) Ltd for the year ended 31 May 2020 which comprise |
the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting |
records and from information and explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Abacus Accountancy Services (East Anglia) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abacus Accountancy Services (East Anglia) Ltd and state those matters that we have agreed to state to the Board of Directors of Abacus Accountancy Services (East Anglia) Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Abacus Accountancy Services (East Anglia) Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abacus Accountancy Services (East Anglia) Ltd. You consider that Abacus Accountancy Services (East Anglia) Ltd is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Abacus Accountancy Services (East Anglia) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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3 Stallion Close |
Downham Market |
Norfolk |
PE38 9GL |
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Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Balance Sheet |
31 May 2020 |
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2020 | 2019 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Balance Sheet - continued |
31 May 2020 |
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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 |
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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. |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
were signed on its behalf by: |
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Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Notes to the Financial Statements |
for the Year Ended 31 May 2020 |
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1. | STATUTORY INFORMATION |
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Abacus Accountancy Services (East Anglia) Ltd is a
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and Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Fixtures & fittings 25% reducing balance |
Motor vehicles 66% reducing balance |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and |
Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or |
directly in equity. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
balance sheet date. |
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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. |
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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. |
Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2020 |
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3. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 1 June 2019 |
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Additions |
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Disposals | ( |
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At 31 May 2020 |
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DEPRECIATION |
At 1 June 2019 |
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Charge for year |
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Eliminated on disposal | ( |
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At 31 May 2020 |
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NET BOOK VALUE |
At 31 May 2020 |
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At 31 May 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Trade debtors |
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Abacus Accountancy Services (East |
Anglia) Ltd (Registered number: 07244306) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 May 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans and overdrafts |
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Payments on account |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2020 | 2019 |
£ | £ |
Bank loans |
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