For the period ended 31 March 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 09586487
Outline Artists Limited
For the period ended 31 March 2016
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
Outline Artists Limited
Accountants' Report
For the period ended 31 March 2016
As described on the balance sheet you are responsible for the preparation of the financial statements for the period
|
ended
31
March
2016
and you consider that the company is exempt from an audit under the Companies Act
2006
.
|
In accordance with your instructions
,
we have compiled these unaudited financial statements in order to assist you
|
to fulfil your statutory responsibilities
,
from the accounting records and information and explanations supplied to us
.
|
CoombeHope
60 West Street
Bridport
Dorset
DT6 3QP
06 September 2016
1 of 4
Notes to the Abbreviated Financial Statements
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Outline Artists Limited
For the period ended 31 March 2016
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved
|
by the shareholders prior to the balance sheet date
.
|
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Plant and Machinery
650
650
130
Charge for period
130
520
3 of 4
Notes to the Abbreviated Financial Statements
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Outline Artists Limited
For the period ended 31 March 2016
Allotted called up and fully paid
|
2016
1
Class A share of £
1
.
00
each
|
1
1
4 of 4