Registered number
ABMT Limited
Unaudited Abbreviated Accounts
31 July 2015
ABMT Limited
Registered number: 06961134
Abbreviated Balance Sheet
as at 31 July 2015
Notes 2015 2014
£ £
Fixed assets
Intangible assets 2 150,000 150,000
Tangible assets 3 284 567
150,284 150,567
Current assets
Cash at bank and in hand 788 123
Creditors: amounts falling due within one year (9,815) (10,642)
Net current liabilities (9,027) (10,519)
Total assets less current liabilities 141,257 140,048
Creditors: amounts falling due after more than one year (420,637) (409,016)
Net liabilities (279,380) (268,968)
Capital and reserves
Called up share capital 4 15 15
Profit and loss account (279,395) (268,983)
Shareholders' funds (279,380) (268,968)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
A K Sutcliffe
Approved by the board on 27 April 2016
ABMT Limited
Notes to the Abbreviated Accounts
for the year ended 31 July 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Going concern
As shown in the notes to the accounts the company has received substantial loans from the directors to enable it to fund the research and development of its core products and for the purchase of trade mark licence of the product it is developing. The Directors have confirmed that they will continue to support the company for the foreseeable future and that they will not require repayment of their loans within the next twelve months.
The directors have continued to develop the core product and are actively marketing it to various organisations. The interest in the product is high and the Directors believe that because of its unique and innovative properties that they will be able to bring the product to market and once this has been achieved that substantial sales and profits will follow. In view of this and the continued support from the Directors and the provider of the long term loan the Directors believe that the company is a going concern and accordingly the accounts have been prepared on that basis.
Turnover represents the value of goods provided to customers.
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Computer equipment 33.33% straight line
Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
Foreign currencies
Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account.
2 Intangible fixed assets £
At 1 August 2014 150,000
At 31 July 2015 150,000
At 31 July 2015 -
Net book value
At 31 July 2015 150,000
At 31 July 2014 150,000
3 Tangible fixed assets £
At 1 August 2014 3,900
At 31 July 2015 3,900
At 1 August 2014 3,333
Charge for the year 283
At 31 July 2015 3,616
Net book value
At 31 July 2015 284
At 31 July 2014 567
4 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 15 15 15
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