Ableworld (UK) Limited - Limited company - abbreviated

REGISTERED NUMBER: 04048285 (England and Wales)

ABLEWORLD (UK) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 1 FEBRUARY 2014 TO 31 AUGUST 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M J C Williams

P W Boniface

Ms A Fraser

N D Cox

SECRETARY:

N D Cox

REGISTERED OFFICE:

Stapeley Technology Park

London Road

Stapeley

Cheshire

CW5 7JW

REGISTERED NUMBER:

04048285 (England and Wales)

FIXED ASSETS

Tangible assets

2

88,104

99,215

Investment property

3

95,000

183,104

194,215

CURRENT ASSETS

Stocks

593,130

555,147

Debtors

368,699

262,074

Cash at bank and in hand

132,077

115,787

1,093,906

933,008

CREDITORS

Amounts falling due within one year

(992,471

)

(905,149

)

NET CURRENT ASSETS

101,435

27,859

TOTAL ASSETS LESS CURRENT LIABILITIES

284,539

222,074

CAPITAL AND RESERVES

Called up share capital

4

900,000

Profit and loss account

(615,461

)

(677,926

)

SHAREHOLDERS' FUNDS

284,539

222,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the
end of each financial year and of its profit or loss for each financial year in accordance with the requirements of
Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to
financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 10 April 2015 and were signed on its behalf by:

M J C Williams - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention modified to include the

revaluation of investment property.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as

a small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

in accordance with the property

Plant and machinery

-

Straight line over 3 years

Fixtures and fittings

-

3-5 years on cost

Computer equipment

-

Straight line over 3 years

Investment property

In accordance with Statement of Standard Accounting Practice 19, investment properties are normally

revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve; no depreciation

or amortisation is provided in respect of freehold investment properties. Although the Companies Act would

normally require the systematic annual depreciation of fixed assets, the Directors believe that this policy of not

providing depreciation is necessary in order for the accounts to give a true and fair view, since the current

value of investment properties, and changes in that current value, are of prime importance rather than a

calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the

annual valuation, and the amount that might otherwise have been shown cannot be separately identified

quantified.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's

pension scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 February 2014

406,230

Additions

11,747

Disposals

(3,841

)

At 31 August 2014

414,136

DEPRECIATION

At 1 February 2014

307,015

Charge for period

21,037

Eliminated on disposal

(2,020

)

At 31 August 2014

326,032

NET BOOK VALUE

At 31 August 2014

88,104

At 31 January 2014

99,215

3.	INVESTMENT PROPERTY

Total

£

COST

At 1 February 2014

and 31 August 2014

95,000

NET BOOK VALUE

At 31 August 2014

95,000

At 31 January 2014

95,000

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

value:

£

900,000

Ordinary

£1

900,000

5.	ULTIMATE PARENT COMPANY

Ableworld Holdings (UK) Ltd is regarded by the directors as being the company's ultimate parent company.