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Ambassador Training Wales |
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Abbreviated Accounts for the Period 17 January 2014 to 31 January 2015 |
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Ambassador Training Wales |
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Abbreviated Accounts for the Period 17 January 2014 to 31 January 2015 |
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Chartered Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Ambassador Training Wales |
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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, from which |
the unaudited abbreviated accounts (set out on pages two to four) have been |
prepared. |
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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 Ambassador Training Wales |
for the period ended 31 January 2015 which comprise the Income and Expenditure |
Account, the 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 Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook. |
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This report is made solely to the Board of Directors of Ambassador Training Wales, 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 Ambassador Training Wales and state those matters that we have agreed to state to the Board of Directors of Ambassador Training Wales, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. 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 Ambassador Training Wales 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 Ambassador Training Wales. You consider that Ambassador Training Wales is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial |
statements of Ambassador Training Wales. 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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5 October 2015 |
Ambassador Training Wales (Registered number: 08850048) |
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Abbreviated Balance Sheet |
31 January 2015 |
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£ |
CURRENT ASSETS |
Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one
year |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS
CURRENT LIABILITIES |
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RESERVES |
Income and expenditure account |
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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 |
(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 surplus or deficit 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. |
Ambassador Training Wales (Registered number: 08850048) |
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Abbreviated Balance Sheet - continued |
31 January 2015 |
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The financial statements were approved by the Board of Directors on
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Ambassador Training Wales (Registered number: 08850048) |
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Notes to the Abbreviated Accounts |
for the Period 17 January 2014 to 31 January 2015 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost |
convention and in accordance with the Financial Reporting Standard for |
Smaller Entities (effective April 2008). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Deferred tax |
Full provision is made for deferred taxation resulting from material timing |
differences between the recognition of gains and losses in the accounts and |
their recognition for tax purposes. Deferred taxation is calculated on an |
un-discounted basis at the tax rates which are expected to apply in the periods |
when the timing differences will reverse. |
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Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts, which are |
those where substantially all the risks and rewards of ownership of the asset |
have passed to the company, are capitalised in the balance sheet and |
depreciated over their useful lives. |
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The interest element of the rental obligations is charged to the profit and loss |
account over the period of the lease and represents a constant proportion of |
the balance of capital repayments outstanding. |
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Rentals paid under operating leases are charged to income on a straight line |
basis over the lease term. |
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Pension costs |
The company makes employer pension contributions to certain individual |
directors personal pension plans. |