Able Joinery Ltd - Period Ending 2016-09-30

Able Joinery Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2016

Moffatt & Co
Chartered Accountants
Progress House
396 Wilmslow Road
Withington
Manchester
M20 3BN

Able Joinery Ltd
(Registration number: 04561716)
Abbreviated Balance Sheet at 30 September 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		17,012	22,316
Current assets
Stocks		51,634	41,025
Debtors		21,379	6,119
Cash at bank and in hand		40,109	27,090
		113,122	74,234
Creditors: Amounts falling due within one year		(117,523)	(85,176)
Net current liabilities		(4,401)	(10,942)
Total assets less current liabilities		12,611	11,374
Provisions for liabilities		(2,090)	(2,863)
Net assets		10,521	8,511
Capital and reserves
Called up share capital	4	2	2
Profit and loss account		10,519	8,509
Shareholders' funds		10,521	8,511

For the year ending 30 September 2016 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 25 November 2016 and signed on its behalf by:

.........................................
Mr Karl Reed
Director

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

Able Joinery Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... 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
Plant and machinery	25% reducing balance method
Motor vehicles	25% reducing balance method
Office equipment	25% reducing balance method

Stock and work in progress

Work in progress 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

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.

Page 2

Able Joinery Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 September 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 October 2015	96,147	96,147
Additions	368	368
At 30 September 2016	96,515	96,515
Depreciation
At 1 October 2015	73,831	73,831
Charge for the year	5,672	5,672
At 30 September 2016	79,503	79,503
Net book value
At 30 September 2016	17,012	17,012
At 30 September 2015	22,316	22,316

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2016 £	2015 £

Amounts falling due within one year	-	3,831

4	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary Shares of £1 each		2	2		2	2

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