Company Registration No. 03456902 (England and Wales)
SOLUTIONS AUDIO VISUAL LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2016
SOLUTIONS AUDIO VISUAL LIMITED
CONTENTS
Page
Accountants' report
1
Abbreviated balance sheet
2
Notes to the abbreviated accounts
3 - 4
SOLUTIONS AUDIO VISUAL LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SOLUTIONS AUDIO VISUAL LIMITED FOR THE YEAR ENDED 31 OCTOBER 2016
- 1 -
The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Solutions Audio Visual Limited for the year ended 31 October 2016 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.
This report is made solely to the Board of Directors of Solutions Audio Visual Limited, as a body, in accordance with the terms of our engagement letter
.
Our work has been undertaken solely to prepare for your approval the financial statements of Solutions Audio Visual Limited and state those matters that we have agreed to state to the Board of Directors of Solutions Audio Visual Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Solutions Audio Visual Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that Solutions Audio Visual Limited 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 Solutions Audio Visual Limited. You consider that Solutions Audio Visual Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Solutions Audio Visual Limited. 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.
MHA Carpenter Box
28 July 2017
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1QR
SOLUTIONS AUDIO VISUAL LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 OCTOBER 2016
31 October 2016
- 2 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,257
6,291
Current assets
Stocks
5,000
5,000
Debtors
873,954
665,500
Cash at bank and in hand
410,160
175,394
1,289,114
845,894
Creditors: amounts falling due within one year
(938,193)
(531,816)
Net current assets
350,921
314,078
Total assets less current liabilities
356,178
320,369
Provisions for liabilities
(234,964)
(241,986)
121,214
78,383
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
121,114
78,283
Shareholders' funds
121,214
78,383
For the financial year ended 31 October 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 July 2017
Mr P A Dangerfield
Director
Company Registration No. 03456902
SOLUTIONS AUDIO VISUAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 OCTOBER 2016
- 3 -
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.
1.3
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life, which the directors consider to be 5 years.
1.4
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:
Fixtures, fittings & equipment
33% on reducing balance and 15% on reducing balance
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Pensions
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
1.8
Warranty provisions are recognised when the company has a present obligation as a result of a past event, and it is probable that the company will be required to settle that obligation. Provisions are measured at the directors' best estimate of the expenditure required to settle the obligation at the balance sheet date.
SOLUTIONS AUDIO VISUAL LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 November 2015 & at 31 October 2016
9,091
29,496
38,587
Depreciation
At 1 November 2015
9,091
23,205
32,296
Charge for the period
-
1,034
1,034
At 31 October 2016
9,091
24,239
33,330
Net book value
At 31 October 2016
-
5,257
5,257
At 31 October 2015
-
6,291
6,291
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100
100