ABM Electrical Distributors Ltd

Registered number

02821410

Unaudited Filleted Accounts

30 September 2016

ABM Electrical Distributors Ltd
Registered number:		02821410
Balance Sheet
as at 30 September 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		14,012			11,247

Current assets
Stocks		422,908			284,643
Debtors	3	400,819			307,151
Cash at bank and in hand		147,312			296,881
		971,039			888,675

Creditors: amounts falling due within one year	4	(463,413)			(408,204)

Net current assets			507,626			480,471

Total assets less current liabilities			521,638			491,718


Provisions for liabilities			(2,802)			(2,249)


Net assets			518,836			489,469

Capital and reserves
Called up share capital			100			100
Profit and loss account			518,736			489,369

Shareholders' funds			518,836			489,469

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.
The 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 and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




H Shah
Director
Approved by the board on 14 June 2017

ABM Electrical Distributors Ltd
Notes to the Accounts
for the year ended 30 September 2016


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			20% reducing balance
	Motor vehicles			25% straight line

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Tangible fixed assets
		Improvements to property		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 October 2015	1,146		34,542		3,300		38,988
	Additions	-		600		7,500		8,100
	Disposals	-		-		(3,300)		(3,300)
	At 30 September 2016	1,146		35,142		7,500		43,788

	Depreciation
	At 1 October 2015	-		26,091		1,650		27,741
	Charge for the year	-		1,810		1,875		3,685
	On disposals	-		-		(1,650)		(1,650)
	At 30 September 2016	-		27,901		1,875		29,776

	Net book value
	At 30 September 2016	1,146		7,241		5,625		14,012
	At 30 September 2015	1,146		8,451		1,650		11,247

3	Debtors					2016		2015
£							£

	Trade debtors					400,161		306,302
	Other debtors					658		849
						400,819		307,151


4	Creditors: amounts falling due within one year					2016		2015
£							£

	Trade creditors					242,945		185,100
	Corporation tax					49,402		56,656
	Other taxes and social security costs					11,747		27,271
	Other creditors					159,319		139,177
						463,413		408,204


5	Related party transactions

	Directors Loan Account - these loans are free of interest and repayable on demand. The amount is included within other creditors. Amount due to the related partiies are : A Shah £68,878 (2015 £46,072) H Shah £67,115 (2015 £72,518)


6	Controlling party

	The controlling parties are Mr A & Mr H Shah by virtue of their joint beneficial ownership of 100% of the ordinary share capital of the company.


7	Other information

	ABM Electrical Distributors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 1
	Coomber Way Industrial Estate
	Coomber Way
	Croydon
	CR0 4TQ