Registered number
04500889
123 Accounting Limited
Abbreviated Accounts
31 March 2014
123 Accounting Limited
Report to the director on the preparation of the unaudited abbreviated accounts of 123 Accounting Limited for the year ended 31 March 2014
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of 123 Accounting Limited for the year ended 31 March 2014 which comprise of the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Daniel C Short Limited
Chartered Certified Accountants
70 Seabourne Road
Southbourne
Bournemouth
Dorset
BH5 2HT
22 December 2014
123 Accounting Limited
Registered number: 04500889
Abbreviated Balance Sheet
as at 31 March 2014
Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 5,641 6,048
Current assets
Stocks 1,544 1,498
Creditors: amounts falling due within one year (4,079) (4,736)
Net current liabilities (2,535) (3,238)
Total assets less current liabilities 3,106 2,810
Provisions for liabilities (326) (407)
Net assets 2,780 2,403
Capital and reserves
Called up share capital 3 2 2
Profit and loss account 2,778 2,401
Shareholder's funds 2,780 2,403
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
D Chester
Director
Approved by the board on 22 December 2014
123 Accounting Limited
Notes to the Abbreviated Accounts
for the year ended 31 March 2014
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 20% written down basis
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from 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.
2 Tangible fixed assets £
Cost
At 1 April 2013 10,857
At 31 March 2014 10,857
Depreciation
At 1 April 2013 4,809
Charge for the year 407
At 31 March 2014 5,216
Net book value
At 31 March 2014 5,641
At 31 March 2013 6,048
3 Share capital Nominal 2014 2014 2013
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 2 2 2
123 Accounting Limited 04500889 false true 2013-04-01 2014-03-31 2014-03-31 D Chester 04500889 uk-bus:OrdinaryShareClass1 2013-03-31 04500889 2013-04-01 2014-03-31 04500889 uk-bus:Director40 2013-04-01 2014-03-31 04500889 uk-gaap:PlantMachinery 2013-04-01 2014-03-31 04500889 uk-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 04500889 2014-03-31 04500889 uk-bus:OrdinaryShareClass1 2014-03-31 04500889 2013-03-31 iso4217:GBP xbrli:shares

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