Abbreviated Company Accounts - ABBEY GARDEN MACHINERY LTD

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Registered Number 04798756

ABBEY GARDEN MACHINERY LTD

Abbreviated Accounts

31 December 2014

ABBEY GARDEN MACHINERY LTD Registered Number 04798756

Abbreviated Balance Sheet as at 31 December 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	54,963	64,002
		54,963	64,002
Current assets
Stocks		314,474	443,779
Debtors		146,197	121,645
Cash at bank and in hand		6,001	2,458
		466,672	567,882
Creditors: amounts falling due within one year		(516,189)	(621,537)
Net current assets (liabilities)		(49,517)	(53,655)
Total assets less current liabilities		5,446	10,347
Creditors: amounts falling due after more than one year		-	(1,856)
Provisions for liabilities		(1,709)	(3,845)
Total net assets (liabilities)		3,737	4,646
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		3,637	4,546
Shareholders' funds		3,737	4,646

For the year ending 31 December 2014 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 29 September 2015

And signed on their behalf by:
S John, Director

ABBEY GARDEN MACHINERY LTD Registered Number 04798756

Notes to the Abbreviated Accounts for the period ended 31 December 2014

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 net invoiced sales of goods, excluding value added tax.

Tangible assets depreciation policy
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life, or if held under finance lease, over the lease term, whichever is the shorter.

Plant and machinery - 25£% reducing balance
Fixtures and Fittings - 33% on cost and 25% on reducing balance
Motor Vehicles - 25% on reducing balance

Valuation information and policy
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies
Deferred tax
Deferred tax is recognised in respect of timing differences between that have originated but not reversed at the balance sheet date.

2Tangible fixed assets

	£
Cost
At 1 January 2014	155,405
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 December 2014	155,405
Depreciation
At 1 January 2014	91,403
Charge for the year	9,039
On disposals	-
At 31 December 2014	100,442
Net book values
At 31 December 2014	54,963
At 31 December 2013	64,002

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
100 Ordinary shares of £1 each	100	100

4Transactions with directors

Name of director receiving advance or credit:	C John
Description of the transaction:	Advances
Balance at 1 January 2014:	£ 10,921
Advances or credits made:	£ 21,100
Advances or credits repaid:	£ 17,425
Balance at 31 December 2014:	£ 14,596

Name of director receiving advance or credit:	N John
Description of the transaction:	Advances
Balance at 1 January 2014:	£ 8,951
Advances or credits made:	£ 21,075
Advances or credits repaid:	£ 18,400
Balance at 31 December 2014:	£ 11,626

The above overdrawn loan accounts were cleared within 9 months of the financial year.