ABC Bakery Limited

		2013		2012
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	2		3,158		10,721

			3,158		10,721
CURRENT ASSETS
Stocks		-		6,130
Debtors		3,196		652
Cash at bank and in hand		17,195		31,050

		20,391		37,832
Creditors: Amounts Falling Due Within One Year		(33,799)		(42,930)

NET CURRENT ASSETS (LIABILITIES)			(13,408)		(5,098)

TOTAL ASSETS LESS CURRENT LIABILITIES			(10,250)		5,623

PROVISIONS FOR LIABILITIES
Deferred Taxation			(265)		(1,096)

NET ASSETS			(10,515)		4,527

CAPITAL AND RESERVES
Called up share capital	3		2		2
Profit and Loss account			(10,517)		4,525

SHAREHOLDERS' FUNDS			(10,515)		4,527

For the year ending 31 December 2013 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 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

On behalf of the board

Mr Ali Chehboun

26/09/2014

Accounting Policies

Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	20% straight line
Motor Vehicles	20% straight line

Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

Deferred Taxation

The charge for taxation takes into account 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 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 there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Tangible Assets


	Total
Cost	£
As at 1 January 2013	37,815

As at 31 December 2013	37,815

Depreciation
As at 1 January 2013	27,094
Provided during the period	7,563

As at 31 December 2013	34,657

Net Book Value
As at 31 December 2013	3,158

As at 1 January 2013	10,721

Page 3

ABC Bakery Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 December 2013

Share Capital

	Value	Number	2013	2012
Allotted, called up and fully paid:	£		£	£
Ordinary shares	2.000	1	2	2