ABACUS STONE LIMITED

Company Registration Number:
04155521 (England and Wales)

Unaudited abridged accounts for the year ended 28 February 2017

Period of accounts

Start date: 29 February 2016

End date: 28 February 2017

ABACUS STONE LIMITED

Contents of the Financial Statements

for the Period Ended 28 February 2017

Balance sheet
Notes

ABACUS STONE LIMITED

Balance sheet

As at 28 February 2017


Notes
2017
2016


£
£
Fixed assets
Tangible assets: 2 31750 37643
Total fixed assets: 31750 37643
Current assets
Stocks: 12771 5013
Debtors: 91453 41827
Cash at bank and in hand: 11378 61465
Total current assets: 115602 108305
Creditors: amounts falling due within one year: 3 (80877) (61890)
Net current assets (liabilities): 34725 46415
Total assets less current liabilities: 66475 84058
Creditors: amounts falling due after more than one year:   (10114)
Provision for liabilities: (5490) (6831)
Total net assets (liabilities): 60985 67113
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 60885 67013
Shareholders funds: 60985 67113

The notes form part of these financial statements

ABACUS STONE LIMITED

Balance sheet statements

For the year ending 28 February 2017 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 November 2017
And Signed On Behalf Of The Board By:

Name: A D MASON
Status: Director

The notes form part of these financial statements

ABACUS STONE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is the total amount receivable by the Company in the ordinary course of business for goods and services supplied as a principal net of VAT and trade discounts. Contract turnover includes the value of work completed during the financial year after reference to the total sales value and stage completion of the project.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Motor Vehicles - 20% on written down valuePlant and Machinery - 20% on written down valueOffice Equipment - 20% on written down value

Valuation and information policy

Stock of materials purchased is valued at the lower of cost and net realisable value.Profits are calculated in accordance with the value of work carried out at the balance sheet date where there is reasonable certainty that profits will be achieved on the contract as a whole. Provision is made for all losses incurred to the accounting date, together with any further losses that are foreseen in bringing contracts to completion.

Other accounting policies

TaxationTaxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Operating LeasesRentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit as incurred.Leased AssetsAssets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to profit and loss account over the remaining period of the lease.Debtors and Creditors Receivable/Payable Within One YearDebtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.Pension CostsContributions in respect of the Company's defined contribution scheme are charged to the profit and loss account for the year in which they are payable to the Scheme.

ABACUS STONE LIMITED

Notes to the Financial Statements

for the Period Ended 28 February 2017


2. Tangible Assets

Total
Cost £
At 29 February 2016 84599
Additions 1692
At 28 February 2017 86291
Depreciation
At 29 February 2016 46956
Charge for year 7585
At 28 February 2017 54541
Net book value
At 28 February 2017 31750
At 28 February 2016 37643

ABACUS STONE LIMITED


Notes to the Financial Statements

for the Period Ended 28 February 2017

3. Creditors: amounts falling due within one year note

The following secured debts are included within creditors:Hire purchase contracts £10,114 (2016-£20,228 )