Registered Number 04580064

ABBEY LAWRENCE LIMITED

Abbreviated Accounts

31 August 2014

ABBEY LAWRENCE LIMITED Registered Number 04580064

Abbreviated Balance Sheet as at 31 August 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 8,710 10,100
8,710 10,100
Current assets
Stocks 4,214 6,339
Debtors 1,002 1,725
Cash at bank and in hand 2,801 14,158
8,017 22,222
Creditors: amounts falling due within one year (18,630) (27,608)
Net current assets (liabilities) (10,613) (5,386)
Total assets less current liabilities (1,903) 4,714
Creditors: amounts falling due after more than one year (1,446) (3,374)
Provisions for liabilities (1,742) (2,020)
Total net assets (liabilities) (5,091) (680)
Capital and reserves
Called up share capital 3 100 100
Profit and loss account (5,191) (780)
Shareholders' funds (5,091) (680)
  • For the year ending 31 August 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 12 May 2015

And signed on their behalf by:
Mr G J Sayers, Director
Mrs H Sayers, Director

ABBEY LAWRENCE LIMITED Registered Number 04580064

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

1Accounting Policies

Basis of measurement and preparation of accounts
Accounting convention
The financial statements are prepared under the historical cost convention.
The company has taken advantage of the exemption in Financial Reporting Standard No 1 from the requirement to produce a cash flow statement on the grounds that it is a small company.

Turnover policy
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Tangible assets depreciation policy
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:
Display stock 25% Straight line
Office equipment 25% Reducing balance
Fixtures and fittings 25% Reducing balance
Motor vehicles 25% Reducing balance

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Stock
Stock is valued at the lower of cost and net realisable value.

Revenue recognition
Revenue is recognised as completed works are invoiced.

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.

2Tangible fixed assets
£
Cost
At 1 September 2013 36,278
Additions 3,783
Disposals (4,900)
Revaluations -
Transfers -
At 31 August 2014 35,161
Depreciation
At 1 September 2013 26,178
Charge for the year 3,798
On disposals (3,525)
At 31 August 2014 26,451
Net book values
At 31 August 2014 8,710
At 31 August 2013 10,100
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
50 A Ordinary shares of £1 each 50 50
50 B Ordinary shares of £1 each 50 50

4Transactions with directors

Name of director receiving advance or credit: Mr G J Sayers
Description of the transaction: Director's loan account (credit balance)
Balance at 1 September 2013: £ 456
Advances or credits made: -
Advances or credits repaid: £ 79
Balance at 31 August 2014: £ 377

As at 31 August 2014 the directors' loan account of Mr and Mrs G J Sayers showed a credit balance of £377 (2013 - £456).