Abbey Carpets & Rugs Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 04809596

ABBEY CARPETS & RUGS LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

30 November 2015

STEWART ASSOCIATES SHREWSBURY LTD

Chartered Accountants

Emstrey House North

Shrewsbury Business Park

Shrewsbury

Shropshire

SY2 6LG

ABBEY CARPETS & RUGS LIMITED

ABBREVIATED BALANCE SHEET

30 November 2015

		30 Nov 15		31 Aug 15
Note		£	£	£	£
Fixed Assets	2
Tangible assets			-		147
			----		----
			-		147

Current Assets

Debtors	108		247
Cash at bank and in hand	4,388		4,394
	-------		-------
	4,496		4,641
Creditors: Amounts Falling due Within One Year	4,024		4,300
	-------		-------
Net Current Assets		472		341
		----		----
Total Assets Less Current Liabilities		472		488
		----		----

Capital and Reserves

Called-up equity share capital	3	2	2
Profit and loss account		470	486
		----	----
Shareholders' Funds		472	488
		----	----

For the period from 1st September 2015 to 30th November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 3 February 2016 .

Mr D M Scutts

Company Registration Number: 04809596

ABBEY CARPETS & RUGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

PERIOD FROM 1st SEPTEMBER 2015 TO 30th NOVEMBER 2015

1. Accounting Policies

Basis of Accounting

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).

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the period, exclusive of Value Added Tax.

Fixed Assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 15% straight line

Operating Lease Agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Financial Instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

2. Fixed Assets

	Tangible Assets
	£

Cost

At 1st September 2015	726
Disposals	(726)
	----
At 30th November 2015	–
	----

Depreciation

At 1st September 2015	579
On disposals	(579)
	----
At 30th November 2015	–
	----

Net Book Value

At 30th November 2015	–
	----
At 31st August 2015	147
	----

3. Share Capital

Allotted, called up and fully paid:

30 Nov 15 31 Aug 15

	No	£	No	£
Ordinary shares of £ 1 each	2	2	2	2
	----	----	----	----
	2	2	2	2
	----	----	----	----