ABBI_(YORK)_LTD - Accounts

ABBI (YORK) LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

920

800

Current assets

Stocks

12,797

18,131

Debtors

9,313

8,779

Cash at bank and in hand

101

781

22,211

27,691

Creditors: amounts falling due within one year

(47,623)

(50,695)

Net current liabilities

(25,412)

(23,004)

Total assets less current liabilities

(24,492)

(22,204)

Capital and reserves

Called up share capital

225

Profit and loss account

(24,717)

(22,429)

Shareholders' funds

(24,492)

(22,204)

For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 June 2016

Ms A R Brooke

Director

Company Registration No. 01227203

ABBI (YORK) LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2015

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

The company expects to be able to operate within its overdraft facility and the directors are not aware of any reason why the overdraft facility might be withdrawn. As a result they have adopted the going concern basis of accounting.

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures and fittings

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

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

ABBI (YORK) LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2015

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2015

3,463

Additions

404

At 31 December 2015

3,867

Depreciation

At 1 January 2015

2,663

Charge for the year

284

At 31 December 2015

2,947

Net book value

At 31 December 2015

920

At 31 December 2014

800

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £26,418 (2014 - £38,252).

Share capital

2015

2014

Allotted, called up and fully paid

225 Ordinary shares of £1 each

225

Related party relationships and transactions

Advances and credits to directors

Debtors include the following amount owed by the director.

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Ms A R Brooke -

619