ABS_LEISURE_LTD - Accounts

ABS LEISURE LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

161,952

178,298

Current assets

Stocks

14,250

13,740

Debtors

77,192

4,266

Cash at bank and in hand

60,672

87,192

152,114

105,198

Creditors: amounts falling due within one year

(89,996)

(54,132)

Net current assets

62,118

51,066

Total assets less current liabilities

224,070

229,364

Provisions for liabilities

(31,661)

(33,616)

Accruals and deferred income

(55,556)

136,853

140,192

Capital and reserves

Called up share capital

Revaluation reserve

108,000

120,000

Other reserves

Profit and loss account

28,753

20,092

Shareholders' funds

136,853

140,192

ABS LEISURE LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 21 June 2016

Mr G Sheldrake

Director

Company Registration No. 02445382

ABS LEISURE LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Leasehold

Over the remaining lease term

Plant and machinery

Between 4% and 25% on cost

Motor vehicles

25% on cost

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.

1.7

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.

ABS LEISURE LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Cost or valuation

At 1 April 2015

899,652

Additions

13,108

At 31 March 2016

912,760

Depreciation

At 1 April 2015

721,354

Charge for the year

29,454

At 31 March 2016

750,808

Net book value

At 31 March 2016

161,952

At 31 March 2015

178,298

Debtors

Debtors include an amount of £75,000 (2015 - £-) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

50 Ordinary shares of £1 each