Registered Number 00892488

ABBEY QUILTING LIMITED

Abbreviated Accounts

31 March 2014

ABBEY QUILTING LIMITED Registered Number 00892488

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 24,796 22,438
24,796 22,438
Current assets
Stocks 269,653 229,443
Debtors 235,942 249,053
Cash at bank and in hand 194,327 102,733
699,922 581,229
Creditors: amounts falling due within one year (174,704) (161,509)
Net current assets (liabilities) 525,218 419,720
Total assets less current liabilities 550,014 442,158
Provisions for liabilities (4,100) (4,800)
Total net assets (liabilities) 545,914 437,358
Capital and reserves
Called up share capital 200,000 200,000
Profit and loss account 345,914 237,358
Shareholders' funds 545,914 437,358
  • For the year ending 31 March 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 22 July 2014

And signed on their behalf by:
RF Platt, Director

ABBEY QUILTING LIMITED Registered Number 00892488

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
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 policy
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.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives

Plant and machinery 15% on a reducing balance basis
Fixtures and fittings 15% on a reducing balance basis

2Tangible fixed assets
£
Cost
At 1 April 2013 437,881
Additions 7,046
Disposals (7,538)
Revaluations -
Transfers -
At 31 March 2014 437,389
Depreciation
At 1 April 2013 415,443
Charge for the year 4,686
On disposals (7,536)
At 31 March 2014 412,593
Net book values
At 31 March 2014 24,796
At 31 March 2013 22,438