For the year ended 31 October 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03585080
| Notes to the Abbreviated Financial Statements |
Abbeycom Ltd
For the year ended 31 October 2016
| The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
| Finance lease and hire purchase charges |
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
| Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted. |
| Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
| by the shareholders prior to the balance sheet date. |
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Motor Vehicles
| Assets on finance lease and hire purchase |
| Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
| rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
| and depreciated over the shorter of the lease term and their estimated expected useful lives. |
| Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
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| Notes to the Abbreviated Financial Statements |
Abbeycom Ltd
For the year ended 31 October 2016
57,548
27,883
(1,500)
83,931
19,523
(1,500)
12,016
Charge for year
30,039
53,892
38,025
| 1,000 Ordinary Shares shares of £1.00 each |
| Allotted called up and fully paid |
2016
2015
| 100 Ordinary Shares shares of £1.00 each |
100
100
100
100
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