AB_CONTINENTAL_FURNISHING

AB CONTINENTAL FURNISHINGS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1

Notes to the abbreviated accounts

2 - 3

AB CONTINENTAL FURNISHINGS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 APRIL 2016

- 1 -

2016

2015

Notes

£

Fixed assets

Tangible assets

2

1,667,604

1,666,623

Current assets

Debtors

32,273

23,550

Cash at bank and in hand

3,812

8,955

36,085

32,505

Creditors: amounts falling due within one year

(193,031)

(239,043)

Net current liabilities

(156,946)

(206,538)

Total assets less current liabilities

1,510,658

1,460,085

Creditors: amounts falling due after more than one year

(1,169,561)

(1,169,563)

341,097

290,522

Capital and reserves

Called up share capital

3

100

Revaluation reserve

227,420

Profit and loss account

113,577

63,002

Shareholders' funds

341,097

290,522

For the financial year ended 30 April 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 23 May 2017

B Singh

Director

Company Registration No. 03721937

AB CONTINENTAL FURNISHINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 APRIL 2016

- 2 -

1

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings 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 or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Land and buildings Freehold

Nil

Land and buildings Leasehold

Straight line over the life of the lease

Fixtures, fittings & equipment

20% Reducing balance

2

Fixed assets

Tangible assets

£

Cost or valuation

At 1 May 2015

1,678,477

Additions

1,500

At 30 April 2016

1,679,977

Depreciation

At 1 May 2015

11,854

Charge for the year

519

At 30 April 2016

12,373

Net book value

At 30 April 2016

1,667,604

At 30 April 2015

1,666,623

AB CONTINENTAL FURNISHINGS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 APRIL 2016

- 3 -

3

Share capital

2016

2015

£

Allotted, called up and fully paid

100 Ordinary shares of £1 each

100