Abbey Business Machines Ltd

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		12,800		16,000
Tangible Assets	3		562		703

			13,362		16,703
CURRENT ASSETS
Stocks		9,500		9,500
Debtors		11,151		18,988
Cash at bank and in hand		7,352		4,925

		28,003		33,413
Creditors: Amounts Falling Due Within One Year		(38,042 )		(43,783 )

NET CURRENT ASSETS (LIABILITIES)			(10,039 )		(10,370 )

TOTAL ASSETS LESS CURRENT LIABILITIES			3,323		6,333

NET ASSETS			3,323		6,333

CAPITAL AND RESERVES
Called up share capital	4		100		100
Profit and Loss Account			3,223		6,233

SHAREHOLDERS' FUNDS			3,323		6,333

Company No. 07323202

Abbreviated Balance Sheet (continued) 31 July 2016

For the year ending 31 July 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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr Frank Hinc

28th April 2017

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

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. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% reducing balance

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Intangible Assets


	Total
Cost	£
As at 1 August 2015	32,000

As at 31 July 2016	32,000

Amortisation
As at 1 August 2015	16,000
Provided during the period	3,200

As at 31 July 2016	19,200

Net Book Value
As at 31 July 2016	12,800

As at 1 August 2015	16,000

Page 2

Abbey Business Machines Ltd

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 July 2016

3. Tangible Assets


	Total
Cost	£
As at 1 August 2015	2,000

As at 31 July 2016	2,000

Depreciation
As at 1 August 2015	1,297
Provided during the period	141

As at 31 July 2016	1,438

Net Book Value
As at 31 July 2016	562

As at 1 August 2015	703

4. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	100	100	100

5. Ultimate Controlling Party

The company's ultimate controlling party is Mr F Hinc by virtue of his ownership of 100% of the issued share capital in the company.