Registered number
04598025
Abacus Design and Fabrication Limited
Abbreviated Accounts
30 November 2016
RAZAK & CO
Chartered Certified Accountants
6 Hutton Terrace
Jesmond
Newcastle upon Tyne
Tyne & Wear
NE2 1QT
Abacus Design and Fabrication Limited
Registered number: 04598025
Abbreviated Balance Sheet
as at 30 November 2016
Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 30,826 13,821
Current assets
Stocks 9,557 5,610
Debtors 81,134 93,372
Cash at bank and in hand 2,977 2,702
93,668 101,684
Creditors: amounts falling due within one year (120,541) (113,605)
Net current liabilities (26,873) (11,921)
Net assets 3,953 1,900
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 3,853 1,800
Shareholders' funds 3,953 1,900
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
……………………………………..
MJ Barker
Director
Approved by the board on 31 January 2017
Abacus Design and Fabrication Limited
Notes to the Abbreviated Accounts
for the year ended 30 November 2016
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2 Tangible fixed assets £
Cost
At 1 December 2015 55,265
Additions 22,710
At 30 November 2016 77,975
Depreciation
At 1 December 2015 41,444
Charge for the year 5,705
At 30 November 2016 47,149
Net book value
At 30 November 2016 30,826
At 30 November 2015 13,821
3 Share capital Nominal 2016 2016 2015
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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