ABC Welsh Limited - Period Ending 2013-08-31

ABC Welsh Limited

and Abbreviated Accounts

for the Year Ended 31 August 2013

ABC Welsh Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 5

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ABC Welsh Limited
for the Year Ended 31 August 2013

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABC Welsh Limited for the year ended 31 August 2013 set out on pages 2 to 5from 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 ABC Welsh Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABC Welsh Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABC Welsh 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 ABC Welsh Limited. You consider that ABC Welsh Limited is exempt from the statutory audit requirement for the year.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

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

AGNITIO
Chartered Accountants & Tax Advisors
Unit 4B
Greenmeadow Springs Business Park
Cardiff
CF15 7NE

16 May 2014

Page 1

ABC Welsh Limited
(Registration number: 07352057)
Abbreviated Balance Sheet at 31 August 2013

	Note	2013 £	2012 £
Fixed assets
Intangible fixed assets		38,000	38,000
Tangible fixed assets		8,308	8,995
		46,308	46,995
Current assets
Stocks		8,575	5,175
Cash at bank and in hand		22,711	43,286
		31,286	48,461
Creditors: Amounts falling due within one year		(32,248)	(51,910)
Net current liabilities		(962)	(3,449)
Total assets less current liabilities		45,346	43,546
Creditors: Amounts falling due after more than one year		(15,678)	(20,102)
Net assets		29,668	23,444
Capital and reserves
Called up share capital	3	1	1
Profit and loss account		29,667	23,443
Shareholders' funds		29,668	23,444

For the year ending 31 August 2013 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 May 2014

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 2

ABC Welsh Limited
(Registration number: 07352057)
Abbreviated Balance Sheet at 31 August 2013
......... continued

.........................................
Mr MA Miah
Director

The notes on pages 4 to 5 form an integral part of these financial statements.
Page 3

ABC Welsh Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2013
......... 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is shown at cost

Amortisation

Goodwill is not amortised

Asset class	Amortisation method and rate

Depreciation

Depreciation is provided at the following annua rates in order to write of each asset over its estimnated useful life.

Asset class	Depreciation method and rate
Plant & machinary etc.	20% on cost
Fixtures & fittings	15% on cost

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

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

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 4

ABC Welsh Limited
Notes to the Abbreviated Accounts for the Year Ended 31 August 2013
......... continued

2	Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 September 2012	38,000	12,887	50,887
Additions	-	1,604	1,604
At 31 August 2013	38,000	14,491	52,491
Depreciation
At 1 September 2012	-	3,892	3,892
Charge for the year	-	2,291	2,291
At 31 August 2013	-	6,183	6,183
Net book value
At 31 August 2013	38,000	8,308	46,308
At 31 August 2012	38,000	8,995	46,995

3	Share capital

Allotted, called up and fully paid shares

	2013			2012
		No.	£		No.	£
Ordinary of £1 each		1	1		1	1

Page 5