ABA Building & Design Limited - Filleted accounts

Registered number

03448222

ABA Building & Design Limited

Filleted Accounts

31 October 2016

ABA Building & Design Limited
Registered number:		03448222
Balance Sheet
as at 31 October 2016

Notes			2016			2015
£				£
Fixed assets
Tangible assets	2		4,347			4,302

Current assets
Stocks		58,616			63,467
Debtors	3	37,946			60,687
Cash at bank and in hand		110,004			942
		206,566			125,096

Creditors: amounts falling due within one year	4	(379,021)			(298,892)

Net current liabilities			(172,455)			(173,796)

Net liabilities			(168,108)			(169,494)

Capital and reserves
Called up share capital			2			2
Profit and loss account			(168,110)			(169,496)

Shareholder's funds			(168,108)			(169,494)

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.




G A Cox
Director
Approved by the board on 14 July 2017

ABA Building & Design Limited
Notes to the Accounts
for the year ended 31 October 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	over 5 years
	Motor vehicles	over 4 years


	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	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.




2	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 November 2015	13,755		2,000		15,755
	Additions	1,514		-		1,514
	At 31 October 2016	15,269		2,000		17,269

	Depreciation
	At 1 November 2015	10,578		875		11,453
	Charge for the year	1,188		281		1,469
	At 31 October 2016	11,766		1,156		12,922

	Net book value
	At 31 October 2016	3,503		844		4,347
	At 31 October 2015	3,177		1,125		4,302


3	Debtors			2016		2015
£					£

	Trade debtors			36,284		56,568
	Other debtors			1,662		4,119
				37,946		60,687


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

	Bank loans and overdrafts			16,763		14,202
	Trade creditors			91,200		27,260
	Other taxes and social security costs			31,617		23,308
	Other creditors			239,441		234,122
				379,021		298,892


5	Other information

	ABA Building & Design Limited is a private company limited by shares and incorporated in England. Its registered office is 272 Kirkdale, London, SE26 4RS: