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No description of principal activity
2016-01-01
Sage Accounts Production Advanced 2017 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
02992893
2016-01-01
2016-12-31
02992893
2016-12-31
02992893
2015-12-31
02992893
2015-01-01
2015-12-31
02992893
2015-12-31
02992893
core:PlantMachinery
2016-01-01
2016-12-31
02992893
core:FurnitureFittings
2016-01-01
2016-12-31
02992893
core:MotorVehicles
2016-01-01
2016-12-31
02992893
bus:RegisteredOffice
2016-01-01
2016-12-31
02992893
bus:LeadAgentIfApplicable
2016-01-01
2016-12-31
02992893
bus:Director1
2016-01-01
2016-12-31
02992893
core:WithinOneYear
2016-12-31
02992893
core:WithinOneYear
2015-12-31
02992893
core:ShareCapital
2016-12-31
02992893
core:ShareCapital
2015-12-31
02992893
core:RetainedEarningsAccumulatedLosses
2016-12-31
02992893
core:RetainedEarningsAccumulatedLosses
2015-12-31
02992893
bus:FRS102
2016-01-01
2016-12-31
02992893
bus:AuditExemptWithAccountantsReport
2016-01-01
2016-12-31
02992893
bus:AbridgedAccounts
2016-01-01
2016-12-31
02992893
bus:SmallCompaniesRegimeForAccounts
2016-01-01
2016-12-31
02992893
bus:PrivateLimitedCompanyLtd
2016-01-01
2016-12-31
Statement of Consent to Prepare Abridged Financial Statements |
|
All of the members of Abbey Cleaning Limited have consented to the preparation of the statement of income and retained earnings and the abridged statement of financial position for the year ending 31 December 2016 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
02992893
Unaudited Abridged Financial Statements |
|
NICHOLAS BARWELL & CO LTD
Accountants
Stirling House
Church Road
Wombourne
Wolverhampton
West Midlands
WV5 9DJ
Abridged Financial Statements |
|
Year ended 31 December 2016
Officers and professional advisers |
1 |
|
|
Accountants report to the director on the preparation of the unaudited statutory abridged financial statements |
3 |
|
|
Abridged statement of financial position |
4 |
|
|
Notes to the abridged financial statements |
6 |
|
|
Officers and Professional Advisers |
|
Registered office |
Abbey House |
|
21 Merridale Lane |
|
Wolverhampton |
|
WV3 9RD |
|
|
Accountants |
NICHOLAS BARWELL & CO LTD |
|
Accountants |
|
Stirling House |
|
Church Road |
|
Wombourne |
|
Wolverhampton |
|
West Midlands |
|
WV5 9DJ |
|
|
Year ended 31 December 2016
The director presents his report and the unaudited abridged financial statements of the company for the year ended
31 December 2016
.
Director
The director who served the company during the year was as follows:
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
5 April 2017
and signed on behalf of the board by:
Registered office: |
Abbey House |
21 Merridale Lane |
Wolverhampton |
WV3 9RD |
|
Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Abbey Cleaning Limited |
|
Year ended 31 December 2016
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 December 2016, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
NICHOLAS BARWELL & CO LTD
Accountants
Stirling House
Church Road
Wombourne
Wolverhampton
West Midlands
WV5 9DJ
5 April 2017
Abridged Statement of Financial Position |
|
31 December 2016
Fixed assets
Tangible assets |
6 |
|
58,501 |
68,942 |
|
|
|
|
|
Current assets
Stocks |
7,140 |
|
3,290 |
Debtors |
236,931 |
|
136,222 |
Cash at bank and in hand |
205,513 |
|
289,658 |
|
--------- |
|
--------- |
|
449,584 |
|
429,170 |
|
|
|
|
Creditors: amounts falling due within one year |
100,164 |
|
119,443 |
|
--------- |
|
--------- |
Net current assets |
|
349,420 |
309,727 |
|
|
--------- |
--------- |
Total assets less current liabilities |
|
407,921 |
378,669 |
|
|
--------- |
--------- |
Net assets |
|
407,921 |
378,669 |
|
|
--------- |
--------- |
|
|
|
|
Abridged Statement of Financial Position (continued) |
|
31 December 2016
Capital and reserves
Called up share capital |
|
8 |
8 |
Profit and loss account |
|
407,913 |
378,661 |
|
|
--------- |
--------- |
Members funds |
|
407,921 |
378,669 |
|
|
--------- |
--------- |
|
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2016 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 abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
5 April 2017
, and are signed on behalf of the board by:
Company registration number:
02992893
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Abbey House, 21 Merridale Lane, Wolverhampton, WV3 9RD.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 9.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The charge for taxation takes into account, where material, taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Plant & machinery |
- |
25% reducing balance |
|
Fixtures & fittings |
- |
25% reducing balance |
|
Motor vehicles |
- |
25% reducing balance |
|
|
|
|
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Staff costs
The average number of persons employed by the company during the year, including the director, amounted to 93 (2015: 96).
5.
Profit before taxation
Profit before taxation is stated after charging:
|
2016 |
2015 |
|
£ |
£ |
Depreciation of tangible assets |
19,499 |
22,975 |
|
-------- |
-------- |
|
|
|
6.
Tangible assets
|
£ |
Cost |
|
At 1 January 2016 |
209,879 |
Additions |
9,058 |
|
--------- |
At 31 December 2016 |
218,937 |
|
--------- |
Depreciation |
|
At 1 January 2016 |
140,937 |
Charge for the year |
19,499 |
|
--------- |
At 31 December 2016 |
160,436 |
|
--------- |
Carrying amount |
|
At 31 December 2016 |
58,501 |
|
--------- |
At 31 December 2015 |
68,942 |
|
--------- |
|
|
7.
Director's advances, credits and guarantees
A loan balance of £611 remains at the year end to the director. This loan amount is interest free and repayable on demand
.
8.
Related party transactions
The company is under the control of
Mr J. Jenkins
who is the director and major shareholder. No transactions with related parties were undertaken.
9.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.
10.
Other spare note 99 heading