| Abbeygate Ceramic Tiles Ltd |
For the year ended 31 July 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 05506885
Abbeygate Ceramic Tiles Ltd
For the year ended 31 July 2016
1
Accountants' Report
2
Balance Sheet
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Notes to the Abbreviated Financial Statements
Abbeygate Ceramic Tiles Ltd
Accountants' Report
For the year ended 31 July 2016
| As described on the balance sheet you are responsible for the preparation of the financial statements for the year |
| ended 31 July 2016 and you consider that the company is exempt from an audit under the Companies Act 2006. |
| In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you |
| to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Finance & Management Services
First Floor
40 Eastgate Street
Bury St Edmunds
Suffolk
IP33 1YW
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| Abbreviated Balance Sheet |
Abbeygate Ceramic Tiles Ltd
2016
2015
2
71,755
82,877
71,755
82,877
23,973
29,619
51,162
76,412
107,720
79,201
213,751
154,336
| Creditors: amounts falling due within one year |
(113,455)
(130,396)
40,881
83,355
Net current assets
| Total assets less current liabilities |
155,110
123,758
155,110
Net assets
123,758
95,417
95,417
59,693
28,341
155,110
123,758
Shareholders funds
| For the year ended 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. |
| Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; |
| 2) 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. |
| Date approved by the board: 02 November 2016 |
| Signed on behalf of the board of directors |
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| Notes to the Abbreviated Financial Statements |
Abbeygate Ceramic Tiles Ltd
For the year ended 31 July 2016
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the directors who have undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities. |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| The company operates a defined contribution pension scheme for the benefit of its directors/and employees. |
| Contributions payable are charged to the profit and loss account in the period in which they are payable. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
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| Notes to the Abbreviated Financial Statements |
Abbeygate Ceramic Tiles Ltd
For the year ended 31 July 2016
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
138,036
27,754
(25,946)
139,844
55,159
(10,279)
23,209
Charge for year
68,089
71,755
82,877
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