Abbey Bar Paisley Limited - Period Ending 2016-06-30

Abbey Bar Paisley Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2016

Alistair Brown Limited
Chartered Accountants
Moncrieff House
10 Moncrieff Street
Paisley
Renfrewshire
PA3 2BE

Abbey Bar Paisley Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Abbey Bar Paisley Limited
for the Year Ended 30 June 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abbey Bar Paisley Limited for the year ended 30 June 2016 set out on the relevant pages from the company's accounting records and from information and explanations you have given us.

As a member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Abbey Bar Paisley Limited, as a body, in accordance with the terms of our engagement letter dated 21 June 2005. Our work has been undertaken solely to prepare for your approval the accounts of Abbey Bar Paisley Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Bar Paisley Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abbey Bar Paisley Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Abbey Bar Paisley Limited. You consider that Abbey Bar Paisley 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 accounts of Abbey Bar Paisley 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 accounts.

......................................

Alistair Brown Limited
Chartered Accountants
Moncrieff House
10 Moncrieff Street
Paisley
Renfrewshire
PA3 2BE

23 March 2017

Abbey Bar Paisley Limited
(Registration number: SC285768)
Abbreviated Balance Sheet at 30 June 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets	2	542	677
Current assets
Stocks		5,001	5,073
Debtors		19,911	13,854
Cash at bank and in hand		8,292	6,583
		33,204	25,510
Creditors: Amounts falling due within one year		(22,388)	(23,437)
Net current assets		10,816	2,073
Total assets less current liabilities		11,358	2,750
Creditors: Amounts falling due after more than one year		(153,540)	(127,683)
Net liabilities		(142,182)	(124,933)
Capital and reserves
Called up share capital	3	35	35
Profit and loss account		(142,217)	(124,968)
Shareholders' deficit		(142,182)	(124,933)

For the year ended 30 June 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 director acknowledges his 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 director on 23 March 2017

.........................................
Ronald Saez
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Abbey Bar Paisley Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 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).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Going concern

The director has confirmed that he shall continue to make available financial support as and when required to enable the company to trade for the forseeable future. As a result the going concern basis is considered to be appropriate.

Turnover

Turnover represents amounts chargeable, net of value added tax, in the respect of the sale of goods.

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
Fixture and fittings	20% reducing balance

Stock

Stock 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.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Abbey Bar Paisley Limited
Notes to the Abbreviated Accounts for the Year Ended 30 June 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 July 2015	6,306	6,306
At 30 June 2016	6,306	6,306
Depreciation
At 1 July 2015	5,629	5,629
Charge for the year	135	135
At 30 June 2016	5,764	5,764
Net book value
At 30 June 2016	542	542
At 30 June 2015	677	677

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary of £1 each		35	35		35	35

Page 4