Company Registration No. 08940559 (England and Wales)
AMBIT MANAGEMENT LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2015
AMBIT MANAGEMENT LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2
AMBIT MANAGEMENT LTD
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2015
31 March 2015
- 1 -
2015
Notes
£
£
Fixed assets
Tangible assets
2
2,707
Current assets
Debtors
187,690
Cash at bank and in hand
4,187
191,877
Creditors: amounts falling due within one year
(74,830)
Net current assets
117,047
Total assets less current liabilities
119,754
Capital and reserves
Called up share capital
3
100
Profit and loss account
119,654
Shareholders' funds
119,754
For the financial year ended 31 March 2015 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 18 September 2015
P.R.H. Clayden
Director
Company Registration No. 08940559
AMBIT MANAGEMENT LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
- 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 April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
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
33.33% straight line
2
Fixed assets
Tangible assets
£
Cost
At 14 March 2014
-
Additions
4,061
At 31 March 2015
4,061
Depreciation
At 14 March 2014
-
Charge for the year
1,354
At 31 March 2015
1,354
Net book value
At 31 March 2015
2,707
3
Share capital
2015
£
Allotted, called up and fully paid
100 Ordinary shares of £1 each
100