Company Registration No. 04921964 (England and Wales)
ACG PUBLICATIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
LB GROUP
Onslow House
62 Broomfield Road
Chelmsford
Essex
CM1 1SW
ACG PUBLICATIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ACG PUBLICATIONS LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
80,000
90,000
Tangible assets
2
6,040
8,642
86,040
98,642
Current assets
Stocks
44,524
43,034
Debtors
36,992
39,430
Cash at bank and in hand
107,864
118,892
189,380
201,356
Creditors: amounts falling due within one year
(148,466)
(165,635)
Net current assets
40,914
35,721
Total assets less current liabilities
126,954
134,363
Provisions for liabilities
(900)
(1,300)
126,054
133,063
Capital and reserves
Called up share capital
3
1,001
1,001
Profit and loss account
125,053
132,062
Shareholders' funds
126,054
133,063
ACG PUBLICATIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2016
31 March 2016
- 2 -
For the financial year ended 31 March 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 2 August 2016
Mrs S Constantin
Mrs C Golbourn
Director
Director
Company Registration No. 04921964
ACG PUBLICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 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
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. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years .
of 20 years
.
1.5
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:
Computer equipment
3 years straight line
Fixtures, fittings & equipment
10% reducing balance
During the year the computer depreciation rate was changed from 33% reducing balance to three years straight line. This change occurred as it gives a more true and fair value of the assets.
1.6
Stock
Stock is valued at the lower of cost and net realisable value.
1.7
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.
1.8
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.
1.9
Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.
ACG PUBLICATIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 April 2015
200,000
23,089
223,089
Additions
-
3,187
3,187
Disposals
-
(2,644)
(2,644)
At 31 March 2016
200,000
23,632
223,632
Depreciation
At 1 April 2015
110,000
14,447
124,447
On disposals
-
(2,327)
(2,327)
Charge for the year
10,000
5,472
15,472
At 31 March 2016
120,000
17,592
137,592
Net book value
At 31 March 2016
80,000
6,040
86,040
At 31 March 2015
90,000
8,642
98,642
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
750 Ordinary A shares of £1 each
750
750
125 Ordinary B shares of £1 each
125
125
125 Ordinary C shares of £1 each
125
125
1 Ordinary D shares of £1 each
1
1
1,001
1,001