Registered number
SC372765
AB Appliance Care Limited
Filleted Accounts
31 March 2017
AB Appliance Care Limited
Registered number: SC372765
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 2 3,408 4,481
Current assets
Debtors 3 - 1,243
Cash at bank and in hand 20,594 15,266
20,594 16,509
Creditors: amounts falling due within one year 4 (10,866) (11,948)
Net current assets 9,728 4,561
Net assets 13,136 9,042
Capital and reserves
Profit and loss account 13,136 9,042
Shareholders' funds 13,136 9,042
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.
A Brown
Director
Approved by the board on 14 September 2017
AB Appliance Care Limited
Notes to the Accounts
for the year ended 31 March 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 at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Vehicles 25% on a Reducing Balance basis
Fixtures, fittings, tools and equipment 20% on a Reducing Balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2016 1,606 10,565 12,171
At 31 March 2017 1,606 10,565 12,171
Depreciation
At 1 April 2016 654 7,036 7,690
Charge for the year 191 882 1,073
At 31 March 2017 845 7,918 8,763
Net book value
At 31 March 2017 761 2,647 3,408
At 31 March 2016 952 3,529 4,481
3 Debtors 2017 2016
£ £
Trade debtors - 1,243
4 Creditors: amounts falling due within one year 2017 2016
£ £
Corporation tax 6,699 5,482
Other taxes and social security costs 4,447 5,330
Other creditors (280) 1,136
10,866 11,948
5 Other information
AB Appliance Care Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
17 Gardens Road
Newburgh
Fife
KY14 6BZ
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