ABD Joinery Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 6446652

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	3		957		548

			957		548
CURRENT ASSETS
Debtors	4	49,079		30,331
Cash at bank and in hand		4,129		9,062

		53,208		39,393
Creditors: Amounts Falling Due Within One Year	5	(37,501 )		(37,673 )

NET CURRENT ASSETS (LIABILITIES)			15,707		1,720

TOTAL ASSETS LESS CURRENT LIABILITIES			16,664		2,268

PROVISIONS FOR LIABILITIES
Deferred Taxation			(54 )		(110 )

NET ASSETS			16,610		2,158

CAPITAL AND RESERVES
Called up share capital	6		1		1
Profit and Loss Account			16,609		2,157

SHAREHOLDERS' FUNDS			16,610		2,158

Page 1

ABD Joinery Limited

Balance Sheet (continued)

As at 30 November 2017

For the year ending 30 November 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Paul Affleck

07/08/2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. 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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% Straight Line Basis

Page 3

ABD Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2017

1.4. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	1	1

	1	1

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ABD Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2017

3. Tangible Assets


	Plant & Machinery
	£
Cost
As at 1 December 2016	8,891
Additions	682

As at 30 November 2017	9,573

Depreciation
As at 1 December 2016	8,343
Provided during the period	273

As at 30 November 2017	8,616

Net Book Value
As at 30 November 2017	957

As at 1 December 2016	548

4. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	23,456	15,285
Other debtors	23,072	15,046
Other taxes and social security	2,551	-

	49,079	30,331

5. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	1,061	1,101
Corporation tax	35,649	35,131
Other taxes and social security	-	432
Other creditors	750	1,009
Director's loan account	41	-

	37,501	37,673

Page 5

ABD Joinery Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2017

6. Share Capital

	2017		2016
Allotted, Called up and fully paid	1		1

7. General Information

ABD Joinery Limited is a private company, limited by shares, incorporated in England & Wales, registered number 6446652. The registered office is Crown House, High Street, Tyldesley, Manchester, M29 8AL.

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