ABM Accountancy Services LTD,Ltd

Abbreviated Balance Sheet

ABM Accountancy Services LTD

As at 31 May 2016

SC165535

Registered Number :

2016

Notes

2015

Fixed assets

Tangible assets

1,411

1,585

1,411

1,585

Current assets

Stocks

384

Debtors

840

996

Cash at bank and in hand

14,762

15,114

16,142

16,338

Creditors: amounts falling due within one year

(5,201)

(4,832)

11,137

11,310

Net current assets

Total assets less current liabilities

12,721

12,722

12,721

Net assets

12,722

Capital and reserves

Called up share capital

Profit and loss account

12,719

12,720

12,721

12,722

Shareholders funds

For the year ended 31 May 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

2) The director acknowledges his 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.

Date approved by the board: 28 February 2017

Margaret Connal Director

Signed on behalf of the board of directors

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Notes to the Abbreviated Financial Statements

ABM Accountancy Services LTD

For the year ended 31 May 2016

1 Accounting Policies

Basis of accounting

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going Concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the director who has undertaken to provide such support for the foreseeable future. If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and long term liabilities as current liabilities.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Operating lease rentals

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

Dividends

Proposed dividends are only included as liabilities in the financial statements when their payment has been approved

by the shareholders prior to the balance sheet date.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

33% Straight line

Motor Vehicles

25% Reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

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