Company Registration No. 06663739 (England and Wales)
ABLE (SOUTH) LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016
ABLE (SOUTH) LTD
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABLE (SOUTH) LTD
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2016
31 August 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
267
356
Current assets
Debtors
13,766
18,666
Cash at bank and in hand
12,302
5,740
26,068
24,406
Creditors: amounts falling due within one year
(24,979)
(21,705)
Net current assets
1,089
2,701
Total assets less current liabilities
1,356
3,057
Provisions for liabilities
(53)
(71)
1,303
2,986
Capital and reserves
Called up share capital
3
200
100
Profit and loss account
1,103
2,886
Shareholders' funds
1,303
2,986
For the financial year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his 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 16 December 2016
E Fisher
Director
Company Registration No. 06663739
ABLE (SOUTH) LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2016
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention 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 less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2015 & at 31 August 2016
2,801
Depreciation
At 1 September 2015
2,445
Charge for the year
89
At 31 August 2016
2,534
Net book value
At 31 August 2016
267
At 31 August 2015
356
ABLE (SOUTH) LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
150 Ordinary shares of £1 each
150
100
50 Ordinary B shares of £1 each
50
-
200
100
During the year 50 ordinary B shares of £1 each were allotted and fully paid at par for cash consideration to provide additional working capital.
4
Related party relationships and transactions
Other transactions
The director has provided an interest free loan to the company, the balance outstanding as at 31 August 2016 is £19,497 (2015: £16,480).