ABBEY JOINERY (SOUTH WEST) LIMITED - Abbreviated accounts

Registered number

04993262

ABBEY JOINERY (SOUTH WEST) LIMITED

Abbreviated Accounts

31 July 2014

ABBEY JOINERY (SOUTH WEST) LIMITED
Registered number:		04993262
Abbreviated Balance Sheet
as at 31 July 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		1,195			1,452

Current assets
Stocks		100			2,000
Debtors		4,784			19,453
Cash at bank and in hand		20,322			-
		25,206			21,453

Creditors: amounts falling due within one year		(16,110)			(18,360)

Net current assets			9,096			3,093

Total assets less current liabilities			10,291			4,545

Creditors: amounts falling due after more than one year			-			(2,989)

Provisions for liabilities			-			(290)


Net assets			10,291			1,266

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			10,191			1,166

Shareholders' funds			10,291			1,266

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.



Mr C E Dixon
Director
Approved by the board on 17 February 2015

ABBEY JOINERY (SOUTH WEST) LIMITED
Notes to the Abbreviated Accounts
for the period ended 31 July 2014

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 April 2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the cost of the assets less their estimated residual value, over their expected useful lives.

	Equipment			15% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	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.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


2	Tangible fixed assets					£

	Cost
	At 1 June 2013					4,375
	At 31 July 2014					4,375

	Depreciation
	At 1 June 2013					2,923
	Charge for the period					257
	At 31 July 2014					3,180

	Net book value
	At 31 July 2014					1,195
	At 31 May 2013					1,452


3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary A shares	£1 each		50		50		50
	Ordinary B shares	£1 each		50		50		50
						100		100


4	Loans to directors
	Description and conditions	B/fwd	Paid		Repaid		C/fwd
£			£		£		£
	Mr C E Dixon
	Interest free loan	19,345		7,266		(31,000)		(4,389)

		19,345		7,266		(31,000)		(4,389)