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REGISTERED NUMBER: 07180799 (England and Wales)















ABSTRACT CARPETS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016






ABSTRACT CARPETS LIMITED (REGISTERED NUMBER: 07180799)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 4


ABSTRACT CARPETS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2016







DIRECTOR: Mr. C.K. Lockwood



REGISTERED OFFICE: 15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BUSINESS ADDRESS: 39 South Road
Stourbridge
West Midlands
DY8 3YA



REGISTERED NUMBER: 07180799 (England and Wales)



ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU



BANKERS: Barclays Bank Plc
81 High Street
Stourbridge
West Midlands
DY8 1EB
Page 1
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ABSTRACT CARPETS LIMITED


The following reproduces the text of the report prepared for the director and members in respect of the company's annual
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement
of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary
statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements
of Abstract Carpets Limited for the year ended 31 March 2016 which comprise the Statement of Comprehensive Income, Statement of
Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information
and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Abstract Carpets Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abstract Carpets Limited and state those matters that we have agreed to state to the director of Abstract Carpets Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abstract Carpets Limited director for our work or for this report.

It is your duty to ensure that Abstract Carpets Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abstract Carpets Limited. You consider that Abstract Carpets Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Abstract Carpets Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


21 December 2016

This page does not form part of the statutory financial statements

Page 2
ABSTRACT CARPETS LIMITED (REGISTERED NUMBER: 07180799)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 2 12,770 12,325

CURRENT ASSETS
Stocks 6,250 5,250
Debtors 3 26,732 24,092
Cash at bank 7,644 6,503
40,626 35,845
CREDITORS
Amounts falling due within one year 4 38,533 35,461
NET CURRENT ASSETS 2,093 384
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,863
12,709

PROVISIONS FOR LIABILITIES 6 2,554 2,106
NET ASSETS 12,309 10,603

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 12,308 10,602
SHAREHOLDERS' FUNDS 12,309 10,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 December 2016 and were signed by:





Mr. C.K. Lockwood - Director


The notes form part of these financial statements

Page 3
ABSTRACT CARPETS LIMITED (REGISTERED NUMBER: 07180799)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted
by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

• the requirements of Section 7 Statement of Cash Flows.

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving
items.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial
position date.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 April 2015 23,344
Additions 6,000
At 31 March 2016 29,344
DEPRECIATION
At 1 April 2015 11,019
Charge for year 5,555
At 31 March 2016 16,574
NET BOOK VALUE
At 31 March 2016 12,770
At 31 March 2015 12,325

Page 4 continued...
ABSTRACT CARPETS LIMITED (REGISTERED NUMBER: 07180799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


3. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Other debtors 26,732 24,092

4. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Hire purchase contracts (see note 5) 830 3,654
Trade creditors 7,918 2,269
Taxation and social security 27,841 27,181
Other creditors 1,944 2,357
38,533 35,461

5. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2016 2015
£    £   
Net obligations repayable:
Within one year 830 3,654

6. PROVISIONS FOR LIABILITIES
2016 2015
£    £   
Deferred tax 2,554 2,106

Deferred
tax
£   
Balance at 1 April 2015 2,106
Provided during year 448
Balance at 31 March 2016 2,554

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
1 Ordinary 1 1 1

Page 5 continued...
ABSTRACT CARPETS LIMITED (REGISTERED NUMBER: 07180799)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2016


8. RESERVES
Retained
earnings
£   

At 1 April 2015 10,602
Profit for the year 1,706
At 31 March 2016 12,308

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2016 and 31 March 2015:

2016 2015
£    £   
Mr. C.K. Lockwood
Balance outstanding at start of year 24,092 35,824
Amounts advanced 4,997 22,395
Amounts repaid (2,357 ) (34,127 )
Balance outstanding at end of year 26,732 24,092

10. COMPANY INFORMATION

The company is a private limited company incorporated in England and Wales.

11. FIRST YEAR ADOPTION

No adjustments to the values included in the financial statements were required on transition to Financial Reporting Standard
102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".


Page 6