Aberswift De Leading Specialists Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04254476 (England and Wales)

ABERSWIFT DE LEADING SPECIALISTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 JULY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

K R Ruck

Mrs L C Ruck

SECRETARY:

Mrs L C Ruck

REGISTERED OFFICE:

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

REGISTERED NUMBER:

04254476 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

FIXED ASSETS

Tangible assets

2

15,871

20,362

CURRENT ASSETS

Debtors

191,124

195,410

Cash at bank

9

191,133

195,419

CREDITORS

Amounts falling due within one year

3

195,853

182,345

NET CURRENT (LIABILITIES)/ASSETS

(4,720

)

13,074

TOTAL ASSETS LESS CURRENT LIABILITIES

11,151

33,436

PROVISIONS FOR LIABILITIES

2,985

3,813

NET ASSETS

8,166

29,623

CAPITAL AND RESERVES

Called up share capital

4

2

Profit and loss account

8,164

29,621

SHAREHOLDERS' FUNDS

8,166

29,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 29 August 2017 and were signed on its behalf
by:

K R Ruck - Director

Mrs L C Ruck - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

At the balance sheet date the company had net current liabilities of £4,720 (2015 - net assets of £13,074). The

directors have indicated a clear awareness of the position. The company currently meets its day to day working

capital requirements through the company bank overdraft facility and by the continuing support of the

directors. The directors have confirmed that should the bank overdraft facility be insufficient for the business

needs, that they will continue to support the business as required. Therefore on this basis, the directors

consider it appropriate to prepare the financial statements on a going concern basis.

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Revenue is recognised on the completion of an order and the raising of the sales invoice.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

10% on cost

Plant and machinery etc

-

25% on cost, 25% on reducing balance and 20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2015

and 31 July 2016

85,208

DEPRECIATION

At 1 August 2015

64,846

Charge for year

4,491

At 31 July 2016

69,337

NET BOOK VALUE

At 31 July 2016

15,871

At 31 July 2015

20,362

3.

CREDITORS

Creditors include an amount of £ 25,088 (2015 - £ 25,016 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

2

Ordinary

£1

2

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2016 and

31 July 2015:

2016

2015

£

K R Ruck and Mrs L C Ruck

Balance outstanding at start of year

136,526

73,442

Amounts advanced

120,756

290,671

Amounts repaid

(107,559

)

(227,587

)

Balance outstanding at end of year

149,723

136,526

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Aberswift De Leading Specialists Limited for the year ended 31 July 2016 which comprise the

Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Aberswift De Leading Specialists Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Aberswift De Leading Specialists Limited and state those matters that we have agreed to state to the Board of Directors of Aberswift De Leading Specialists Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Aberswift De Leading Specialists Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Aberswift De Leading Specialists Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Aberswift De Leading Specialists Limited. You consider that Aberswift De Leading Specialists Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Aberswift De Leading Specialists Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

5 Resolution Close

Endeavour Park

Boston

Lincolnshire

PE21 7TT

29 August 2017