Company Registration No. 05895203 (England and Wales)
ABBEY ELECTRICAL KENT LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2014
ABBEY ELECTRICAL KENT LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBEY ELECTRICAL KENT LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 AUGUST 2014
31 August 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
11,218
Current assets
Stocks
-
900
Debtors
26,593
18,106
Cash at bank and in hand
-
8,168
26,593
27,174
Creditors: amounts falling due within one year
(7,433)
(6,170)
Net current assets
19,160
21,004
Total assets less current liabilities
19,160
32,222
Provisions for liabilities
-
(2,244)
19,160
29,978
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
19,060
29,878
Shareholders' funds
19,160
29,978
For the financial year ended 31 August 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has 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 and authorised for issue on 27 May 2015
Mr R Smith
Director
Company Registration No. 05895203
ABBEY ELECTRICAL KENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2014
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention.
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
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
1.5
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Stock
Work in progress is valued at the lower of cost and net realisable value.
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ABBEY ELECTRICAL KENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2014
- 3 -
2
Fixed assets
Tangible assets
£
Cost
At 1 September 2013
26,945
Disposals
(26,945)
At 31 August 2014
-
Depreciation
At 1 September 2013
15,727
On disposals
(15,727)
At 31 August 2014
-
Net book value
At 31 August 2014
-
At 31 August 2013
11,218
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
50 A ordinary of £1 each
50
50
50 B ordinary of £1 each
50
50
100
100