Abbeville Plumbing & Heating Limited

Abbeville Plumbing & Heating Limited
Registered number:		07371013
Balance Sheet
as at 30 September 2017


Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		6,789			9,053

Current assets
Debtors	3	33,627			63,522
Cash at bank and in hand		38,013			17,927
		71,640			81,449

Creditors: amounts falling due within one year	4	(29,024)			(29,452)

Net current assets			42,616			51,997

Total assets less current liabilities			49,405			61,050

Creditors: amounts falling due after more than one year	5		-			(2,662)



Net assets			49,405			58,388

Capital and reserves
Called up share capital			1			1
Profit and loss account			49,404			58,387

Shareholders' funds			49,405			58,388

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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Simon James Birch
Director
Approved by the board on 24 November 2017

Abbeville Plumbing & Heating Limited
Notes to the Accounts
for the year ended 30 September 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor van	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.



2	Tangible fixed assets
		Computer & equipments		Motor vehicles		Total
£			£		£
	Cost
	At 1 October 2016	1,682		17,101		18,783
	At 30 September 2017	1,682		17,101		18,783

	Depreciation
	At 1 October 2016	520		9,210		9,730
	Charge for the year	291		1,973		2,264
	At 30 September 2017	811		11,183		11,994

	Net book value
	At 30 September 2017	871		5,918		6,789
	At 30 September 2016	1,162		7,891		9,053


3	Debtors			2017		2016
£					£

	Trade debtors			31,000		53,903
	Prepayments			2,361		1,667
	Other debtors			266		7,952
				33,627		63,522


4	Creditors: amounts falling due within one year			2017		2016
£					£

	Obligations under finance lease and hire purchase contracts			2,661		2,954
	Trade creditors			1,508		-
	Corporation tax			7,623		6,235
	Other taxes and social security costs			16,168		20,263
	Other creditors			1,064		-
				29,024		29,452


5	Creditors: amounts falling due after one year			2017		2016
£					£

	Obligations under finance lease and hire purchase contracts			-		2,662


6	Other information

	Abbeville Plumbing & Heating Limited is a private company limited by shares and incorporated in England. Its registered office is:
	66 Pembury Avenue
	Worcester Park
	London
	KT4 8BT