Registered Number 07345907

ABACUS UNDERLAY UK LTD

Abbreviated Accounts

31 August 2012

ABACUS UNDERLAY UK LTD Registered Number 07345907

Abbreviated Balance Sheet as at 31 August 2012

Notes 2012 2011
£ £
Called up share capital not paid - -
Fixed assets
Intangible assets 2 8,090 8,990
Tangible assets 3 55,231 52,030
Investments - -
63,321 61,020
Current assets
Stocks 9,000 9,000
Debtors 116,020 26,184
Investments - -
Cash at bank and in hand 14,912 9,834
139,932 45,018
Prepayments and accrued income - -
Creditors: amounts falling due within one year 4 (124,662) (50,620)
Net current assets (liabilities) 15,270 (5,602)
Total assets less current liabilities 78,591 55,418
Creditors: amounts falling due after more than one year 4 (91,332) (111,559)
Provisions for liabilities (11,046) (10,406)
Accruals and deferred income 0 0
Total net assets (liabilities) (23,787) (66,547)
Capital and reserves
Called up share capital 5 675 500
Share premium account 51,825 0
Revaluation reserve 0 0
Other reserves 0 0
Profit and loss account (76,287) (67,047)
Shareholders' funds (23,787) (66,547)
  • For the year ending 31 August 2012 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 directors acknowledge their 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 Board on 13 May 2013

And signed on their behalf by:
Brian Weekes, Director

ABACUS UNDERLAY UK LTD Registered Number 07345907

Notes to the Abbreviated Accounts for the period ended 31 August 2012

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Tangible assets depreciation policy
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:-

Office Equipment - 25% reducing balance.
Plant and Machinery - 15% reducing balance.

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

Intangible assets amortisation policy
Goodwill - positive goodwill is capitalised, classfified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairement at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Goodwill - 10% straight line.

2Intangible fixed assets
£
Cost
At 1 September 2011 9,900
Additions 0
Disposals 0
Revaluations 0
Transfers 0
At 31 August 2012 9,900
Amortisation
At 1 September 2011 910
Charge for the year 900
On disposals 0
At 31 August 2012 1,810
Net book values
At 31 August 2012 8,090
At 31 August 2011 8,990
3Tangible fixed assets
£
Cost
At 1 September 2011 60,396
Additions 13,159
Disposals 0
Revaluations 0
Transfers 0
At 31 August 2012 73,555
Depreciation
At 1 September 2011 8,366
Charge for the year 9,958
On disposals 0
At 31 August 2012 18,324
Net book values
At 31 August 2012 55,231
At 31 August 2011 52,030
4Creditors
2012
£
2011
£
Secured Debts 0 0
Instalment debts due after 5 years 0 0
Non-instalment debts due after 5 years 91,332 111,559
5Called Up Share Capital
Allotted, called up and fully paid:
2012
£
2011
£
675 Ordinary shares of £1 each (500 shares for 2011) 675 500

During the year 175 ordinary shares having an aggregate nominal value of £175 were allotted for an aggregate consideration of £52,000.

6Transactions with directors

Control - the company is controlled by the shareholders, who each own 14.87% of the company.