REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
FOR |
ABAS DRYLINING & CONSTRUCTION CO. LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
FOR |
ABAS DRYLINING & CONSTRUCTION CO. LTD |
ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
ABAS DRYLINING & CONSTRUCTION CO. LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Barnfield Crescent |
Exeter |
Devon |
EX1 1QT |
BANKERS: |
High Street |
Honiton |
Devon |
EX14 8JJ |
ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349) |
BALANCE SHEET |
28 FEBRUARY 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss has not been delivered. |
The financial statements were approved by the director on |
ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
1. | STATUTORY INFORMATION |
Abas Drylining & Construction Co. Ltd is a |
and Wales. The company's registered number and registered office address can be found on the |
Company Information page. |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents net invoiced work done during the year, excluding value added tax, adjusted to |
reflect any un-invoiced work carried out on contracts and amounts held by contractors as retentions. |
All work done is within Great Britain. |
Tangible fixed assets |
Improvements to property | - |
Equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
5. | TANGIBLE FIXED ASSETS |
Improvements |
to |
property | Equipment | Totals |
£ | £ | £ |
COST |
At 29 February 2016 |
Additions |
At 28 February 2017 |
DEPRECIATION |
At 29 February 2016 |
Charge for year |
At 28 February 2017 |
NET BOOK VALUE |
At 28 February 2017 |
At 28 February 2016 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
Directors' current accounts | 4,048 | 2,443 |
VAT |
Retentions |
Retentions are paid up to two years after the main contractor has completed the site.The company has |
no control over when a site will be completed and therefore it is not possible to separate retentions |
between amounts due within and after one year. All retentions were received within 12 months of the |
year end. |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation tax |
Social security and other taxes |
Accruals |
ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2017 |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank overdrafts |
The bank holds an unlimited debenture dated 20 August 1990 as security against overdraft facilities |
available to the company. |
9. | RELATED PARTY DISCLOSURES |
During the year the company leased land and property from the director and his wife at a rent of |
£5,200 p.a. (2016 £5,200). |
10. | ULTIMATE CONTROLLING PARTY |
The company is controlled by the sole director who is also the sole shareholder. |
11. | FIRST YEAR ADOPTION |
The date of transition for FRS 102 was 1 March 2015. There have been no adjustments made to any |
balances on transition. |