Company Registration No. 01909175 (England and Wales)
ABBEY EXTRUSIONS LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2016
ABBEY EXTRUSIONS LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
ABBEY EXTRUSIONS LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
24,701
28,348
Investments
2
33,056
26,970
57,757
55,318
Current assets
Stocks
84,641
120,488
Debtors
314,762
299,980
Cash at bank and in hand
108,599
126,720
508,002
547,188
Creditors: amounts falling due within one year
(303,194)
(369,408)
Net current assets
204,808
177,780
Total assets less current liabilities
262,565
233,098
Provisions for liabilities
(4,672)
(5,043)
257,893
228,055
Capital and reserves
Called up share capital
3
5,000
5,000
Other reserves
5,000
5,000
Profit and loss account
247,893
218,055
Shareholders' funds
257,893
228,055
ABBEY EXTRUSIONS LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
- 2 -
For the financial 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:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 15 December 2016
B Cowan
Director
Company Registration No. 01909175
ABBEY EXTRUSIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 JULY 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
Straight line over 7 years
Plant and machinery
15% Straight line
Fixtures, fittings & equipment
15% Straight line / 30% Straight line
1.5
Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.6
Investments
Fixed asset investments are stated at cost less provision for diminution in value.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Pensions
The pension costs charged in the financial statements represent the contributions payable by the company during the year.
1.9
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
ABBEY EXTRUSIONS LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2016
- 4 -
2
Fixed assets
Tangible assets
Investments
Total
£
£
£
Cost
At 1 August 2015
298,116
26,969
325,085
Additions
4,000
6,087
10,087
At 31 July 2016
302,116
33,056
335,172
Depreciation
At 1 August 2015
269,768
-
269,768
Charge for the year
7,647
-
7,647
At 31 July 2016
277,415
-
277,415
Net book value
At 31 July 2016
24,701
33,056
57,757
At 31 July 2015
28,348
26,970
55,318
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
3,500 Ordinary A shares of £1 each
3,500
3,500
500 Ordinary B shares of £1 each
500
500
500 Ordinary C Shares of £1 each
500
500
500 Ordinary D Shares of £1 each
500
500
5,000
5,000