Registered Number 07275589
ONVENTION LIMITED
Abbreviated Accounts
30 June 2016
Notes | 2016 | 2015 | |
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£ | £ | ||
Current assets | |||
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 2 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
extracted, have been prepared under the historical cost convention and in accordance with
applicable accounting standards and the Companies Act 2006.
Information on the impact of first-time adoption of FRS 102 is given in note 8.
The preparation of financial statements in compliance with FRS 102 requires the use of certain
critical accounting estimates. It also requires management to exercise judgment in applying the
Company's accounting policies (see note 3).
Turnover policy
Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable, excluding discounts, rebates, value added tax and other sales
taxes. The following criteria must also be met before revenue is recognised:
Revenue from a contract to provide services is recognised in the period in which the services are
provided in accordance with the stage of completion of the contract when all of the following
conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.