A&B Trade Paint Supplies Ltd - Period Ending 2015-12-31

A&B Trade Paint Supplies Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2015

HML Davies Limited
Chartered Certified Accountants
9 Riverside
Waters Meeting Road
Bolton
BL1 8TU

A&B Trade Paint Supplies Ltd
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

A&B Trade Paint Supplies Ltd
(Registration number: 05761833)
Abbreviated Balance Sheet at 31 December 2015

	Note	2015 £	2014 £
Fixed assets
Tangible fixed assets	2	11,270	14,703
Current assets
Stocks		69,750	72,500
Debtors		64,319	35,415
Cash at bank and in hand		14,218	14,252
		148,287	122,167
Creditors: Amounts falling due within one year		(108,348)	(87,818)
Net current assets		39,939	34,349
Net assets		51,209	49,052
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		51,109	48,952
Shareholders' funds		51,209	49,052

For the year ending 31 December 2015 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 20 September 2016 and signed on its behalf by:

.........................................
Mr W Corrigan
Director

.........................................
Mr A Hallows
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

A&B Trade Paint Supplies Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% reducing balance
Fixtures and fittings	20% reducing balance
Office equipment	20% reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

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A&B Trade Paint Supplies Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 December 2015
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 January 2015	49,737	49,737
At 31 December 2015	49,737	49,737
Depreciation
At 1 January 2015	35,034	35,034
Charge for the year	3,433	3,433
At 31 December 2015	38,467	38,467
Net book value
At 31 December 2015	11,270	11,270
At 31 December 2014	14,703	14,703

3	Share capital

Allotted, called up and fully paid shares

	2015			2014
		No.	£		No.	£
Ordinary of £1 each		100	100		100	100

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