ABS Heating and Plumbing Supplies Ltd

Registered number

06559975

Abbreviated Accounts

31 May 2016

ABS Heating and Plumbing Supplies Ltd
Registered number:		06559975
Abbreviated Balance Sheet
as at 31 May 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets			3,177			4,068

Current assets
Stocks		66,935			61,250
Debtors		4,139			7,851
Cash at bank and in hand		2,192			2,540
		73,266			71,641

Creditors: amounts falling due within one year		(41,475)			(47,981)

Net current assets			31,791			23,660

Net assets			34,968			27,728

Capital and reserves
Called up share capital	2		200			200
Profit and loss account			34,768			27,528

Shareholders' funds			34,968			27,728

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
Members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



R G Patel
Director
Approved by the board on 25 February 2017

ABS Heating and Plumbing Supplies Ltd
Notes to the Abbreviated Accounts
for the year ended 31 May 2016

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			15% reducing balance
	Motor vehicle			25% reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


2	Share capital	Nominal		2016		2016		2015
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		200		200		200