Abbey Service Station Limited

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	2		370,469		383,865

			370,469		383,865
CURRENT ASSETS
Stocks		46,863		38,739
Debtors		86,348		76,514
Cash at bank and in hand		80,583		73,273

		213,794		188,526
Creditors: Amounts Falling Due Within One Year		(238,157 )		(206,257 )

NET CURRENT ASSETS (LIABILITIES)			(24,363 )		(17,731 )

TOTAL ASSETS LESS CURRENT LIABILITIES			346,106		366,134

Creditors: Amounts Falling Due After More Than One Year	3		(195,370 )		(256,651 )

NET ASSETS			150,736		109,483

CAPITAL AND RESERVES
Called up share capital	4		100		100
Profit and Loss Account			150,636		109,383

SHAREHOLDERS' FUNDS			150,736		109,483

Company No. 00990816

Abbreviated Balance Sheet (continued) 30 September 2016

For the year ending 30 September 2016 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mrs Calogerina Ingrao	Mr Carmelo Ingrao
31/03/2017

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 Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

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:

Freehold	2% on cost
Plant & Machinery	25% on cost

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2. Tangible Assets


	Total
Cost	£
As at 1 October 2015	642,520

As at 30 September 2016	642,520

Depreciation
As at 1 October 2015	258,655
Provided during the period	13,396

As at 30 September 2016	272,051

Net Book Value
As at 30 September 2016	370,469

As at 1 October 2015	383,865

3. Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Bank loans	29,728	85,067
Other creditors	49,477	9,374
Directors loan account	116,165	162,210

	195,370	256,651

Page 2

Abbey Service Station Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 30 September 2016

4. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	100	100	100

5. Transactions With and Loans to Directors

Dividends paid to directors

	2016	2015
	£	£
Mr Carmelo Ingrao	5,000	-
Mrs Calogerina Ingrao	1,000	-

6. Ultimate Controlling Party

The company's ultimate controlling party is Carmelo Ingrao by virtue of his ownership of 50% of the issued share capital in the company.