Abbreviated Company Accounts - ABLE CARPETS LIMITED

05236621 ABLE CARPETS LIMITED 2016-09-30 false 2015-10-01 2016-09-30 true 05236621 2015-10-01 2016-09-30 05236621 2016-09-30 05236621 2015-09-30 05236621 uk-gaap-cd-bus:Director1 2015-10-01 2016-09-30 05236621 uk-gaap-cd-bus:Director2 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2016-09-30 uk-gaap-cd-bus:OrdinaryShareClass1 2015-09-30 iso4217:GBP shares

Registered Number 05236621

ABLE CARPETS LIMITED

Abbreviated Accounts

30 September 2016

ABLE CARPETS LIMITED Registered Number 05236621

Abbreviated Balance Sheet as at 30 September 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	167,118	160,154
		167,118	160,154
Current assets
Stocks		27,440	31,425
Debtors		5,880	7,442
Cash at bank and in hand		76,545	91,992
		109,865	130,859
Creditors: amounts falling due within one year		(118,955)	(92,053)
Net current assets (liabilities)		(9,090)	38,806
Total assets less current liabilities		158,028	198,960
Creditors: amounts falling due after more than one year		(39,480)	(39,480)
Total net assets (liabilities)		118,548	159,480
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		118,546	159,478
Shareholders' funds		118,548	159,480

For the year ending 30 September 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.

Approved by the Board on 25 April 2017

And signed on their behalf by:
Mr A Bromley, Director
Mr K Bromley, Director

ABLE CARPETS LIMITED Registered Number 05236621

Notes to the Abbreviated Accounts for the period ended 30 September 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The Accounts have been prepared under the Historical Cost convention and comply with Financial Reporting Standards of the Accounting Standards Board.
The Accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 and the Financial Reporting Standards for Smaller Entities relating to Small Companies.

Turnover policy
Turnover represents the net amount of invoices to customers less credit notes for goods returned, excluding VAT.

Tangible assets depreciation policy
Depreciation is provided on the reducing balance basis.
The following rates have been applied:
Freehold Property 2%
Vehicles 18%
Fixtures & Equipment 18%
Office Equipment 18%

Other accounting policies
Stock and Work in progress is valued at the lower of Cost and Net Realisable Value after making due allowance for obsolete and slow-moving items.
Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
No provision has been made for Deferred Taxation as, in the opinion of the Directors, the amount is Immaterial and is not likely to arise in the foreseeable future.

2Tangible fixed assets

	£
Cost
At 1 October 2015	227,042
Additions	15,913
Disposals	(17,835)
Revaluations	-
Transfers	-
At 30 September 2016	225,120
Depreciation
At 1 October 2015	66,888
Charge for the year	6,824
On disposals	(15,710)
At 30 September 2016	58,002
Net book values
At 30 September 2016	167,118
At 30 September 2015	160,154

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2