ABACUS SELF DRIVE LIMITED - Period Ending 2014-04-30

ABACUS SELF DRIVE LIMITED

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2014

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

ABACUS SELF DRIVE LIMITED
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ABACUS SELF DRIVE LIMITED
for the Year Ended 30 April 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABACUS SELF DRIVE LIMITED for the year ended 30 April 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of ABACUS SELF DRIVE LIMITED, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ABACUS SELF DRIVE LIMITED and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABACUS SELF DRIVE LIMITED and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABACUS SELF DRIVE LIMITED has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ABACUS SELF DRIVE LIMITED. You consider that ABACUS SELF DRIVE LIMITED is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of ABACUS SELF DRIVE LIMITED. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Minney & Company Limited
Chartered Accountants
59 Union Street
Dunstable
Beds
LU6 1EX

15 December 2014

Page 1

ABACUS SELF DRIVE LIMITED
(Registration number: 02873444)
Abbreviated Balance Sheet at 30 April 2014

	Note	2014 £	2013 £
Fixed assets
Tangible fixed assets	2	105,716	129,141
Current assets
Debtors		95,125	65,714
Cash at bank and in hand		63	16,827
		95,188	82,541
Creditors: Amounts falling due within one year		(25,700)	(43,403)
Net current assets		69,488	39,138
Net assets		175,204	168,279
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		175,202	168,277
Shareholders' funds		175,204	168,279

For the year ending 30 April 2014 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 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 .

Approved by the director on 15 December 2014

.........................................
P Shepperd
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

ABACUS SELF DRIVE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% on cost
Office equipment	20% on cost

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 3

ABACUS SELF DRIVE LIMITED
Notes to the Abbreviated Accounts for the Year Ended 30 April 2014
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 May 2013	482,777	482,777
Additions	34,620	34,620
Disposals	(24,817)	(24,817)
At 30 April 2014	492,580	492,580
Depreciation
At 1 May 2013	353,636	353,636
Charge for the year	54,198	54,198
Eliminated on disposals	(20,970)	(20,970)
At 30 April 2014	386,864	386,864
Net book value
At 30 April 2014	105,716	105,716
At 30 April 2013	129,141	129,141

3	Share capital

Allotted, called up and fully paid shares

	2014			2013
		No.	£		No.	£
Ordinary shares of £1 each		2	2		2	2

Page 4