REGISTERED NUMBER: 07379572 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2015

for

ABS TOOLS LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A Seager

SECRETARY:

A Seager

REGISTERED OFFICE:

Office 12

The Bentalls Centre

Colchester Rd

Heybridge, Maldon

Essex

CM9 4GD

REGISTERED NUMBER:

07379572 (England and Wales)

ACCOUNTANTS:

Accounting Plus UK Ltd

Office 12

The Bentalls Centre

Colchester Road, Heybridge

Maldon

Essex

CM9 4GD

FIXED ASSETS

Intangible assets

2

-

18,000

Tangible assets

3

-

17,945

-

35,945

CURRENT ASSETS

Stocks

-

18,786

Debtors

2,007

70,855

Cash at bank and in hand

12,834

20,349

14,841

109,990

CREDITORS

Amounts falling due within one year

25,189

129,574

NET CURRENT LIABILITIES

(10,348

)

(19,584

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(10,348

)

16,361

CREDITORS

Amounts falling due after more than one year

-

9,872

NET (LIABILITIES)/ASSETS

(10,348

)

6,489

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

(10,349

)

6,488

SHAREHOLDERS' FUNDS

(10,348

)

6,489

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 22 November 2015 and were signed by:

A Seager - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention.

Financial reporting standard number 1

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

30,000

Disposals

(30,000

)

At 31 October 2015

-

AMORTISATION

At 1 November 2014

12,000

Amortisation for year

18,000

Eliminated on disposal

(30,000

)

At 31 October 2015

-

NET BOOK VALUE

At 31 October 2015

-

At 31 October 2014

18,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2014

33,104

Disposals

(33,104

)

At 31 October 2015

-

DEPRECIATION

At 1 November 2014

15,159

Charge for year

4,522

Eliminated on disposal

(19,681

)

At 31 October 2015

-

NET BOOK VALUE

At 31 October 2015

-

At 31 October 2014

17,945

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

£

100

ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Directors capital introduced Oct 15 £18,587 Oct 14 £82,781 oct 13 £82,782

Directors drawigs Oct 15 £64,265

Dividends to Directors 2015 Nil 2014 £19878 2013 £14,464

Salary to Director 2015 £7,293