Registered Number 06253087
ABBEY ELECTRICAL (SCARBOROUGH) LIMITED
Abbreviated Accounts
31 March 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year | 3 |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year | 3 |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Profit and loss account |
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Shareholders' funds |
( |
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Approved by the Board on
And signed on their behalf by:
1Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
Tangible assets depreciation policy
Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance
Valuation information and policy
Stock is valued at the lower of cost and net realisable value.
Other accounting policies
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.
£ | |
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Cost | |
At 1 April 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 31 March 2014 |
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Depreciation | |
At 1 April 2013 |
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Charge for the year |
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On disposals |
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At 31 March 2014 |
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Net book values | |
At 31 March 2014 | 22,546 |
At 31 March 2013 | 27,908 |
2014
£ |
2013
£ |
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Secured Debts |
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5Transactions with directors
Name of director receiving advance or credit: | ||
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Description of the transaction: | ||
Balance at 1 April 2013: | £ |
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Advances or credits made: | £ |
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Advances or credits repaid: | £ |
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Balance at 31 March 2014: | £ |