Registered Number 06253087

ABBEY ELECTRICAL (SCARBOROUGH) LIMITED

Abbreviated Accounts

31 March 2014

ABBEY ELECTRICAL (SCARBOROUGH) LIMITED Registered Number 06253087

Abbreviated Balance Sheet as at 31 March 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 22,546 27,908
22,546 27,908
Current assets
Stocks 8,000 8,346
Debtors 68,409 22,123
Cash at bank and in hand 5 -
76,414 30,469
Creditors: amounts falling due within one year 3 (130,268) (55,743)
Net current assets (liabilities) (53,854) (25,274)
Total assets less current liabilities (31,308) 2,634
Creditors: amounts falling due after more than one year 3 - (12,519)
Provisions for liabilities - (3,790)
Total net assets (liabilities) (31,308) (13,675)
Capital and reserves
Called up share capital 4 1 1
Profit and loss account (31,309) (13,676)
Shareholders' funds (31,308) (13,675)
  • For the year ending 31 March 2014 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 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.

Approved by the Board on 30 March 2015

And signed on their behalf by:
Mr Paul David Greatorex, Director

ABBEY ELECTRICAL (SCARBOROUGH) LIMITED Registered Number 06253087

Notes to the Abbreviated Accounts for the period ended 31 March 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance

Valuation information and policy
Stock
Stock is valued at the lower of cost and net realisable value.

Other accounting policies
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce constant periodic rates of charge on the net obligations outstanding in each period.

Deferred taxation
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:
Deferred tax assets are recognised only to the extent that the director considers that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Basis of preparation - going concern
In assessing the appropriateness of the application of the going concern basis, the director has considered the uncertainties around the general economic environment, the current and future trading performance of the company and available cash. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, accordingly he continues to adopt the going concern basis in preparing the financial statements.

2Tangible fixed assets
£
Cost
At 1 April 2013 55,662
Additions 936
Disposals -
Revaluations -
Transfers -
At 31 March 2014 56,598
Depreciation
At 1 April 2013 27,754
Charge for the year 6,298
On disposals -
At 31 March 2014 34,052
Net book values
At 31 March 2014 22,546
At 31 March 2013 27,908
3Creditors
2014
£
2013
£
Secured Debts 12,099 17,078
4Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
1 Ordinary shares of £1 each 1 1

5Transactions with directors

Name of director receiving advance or credit: Mrs Paul David Greatorex
Description of the transaction: Loan
Balance at 1 April 2013: £ 0
Advances or credits made: £ 7,681
Advances or credits repaid: £ 0
Balance at 31 March 2014: £ 7,681

The loan to the director detailed above, is an aggregate of the advances and credits granted in the year. Interest has been charged at a rate of 4% per annum to 31 March 2014 on any overdrawn director's loan account balance.