Micro-entity Accounts - ABLE CARPETS LIMITED

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Registered Number 05236621

ABLE CARPETS LIMITED

Micro-entity Accounts

30 September 2017

ABLE CARPETS LIMITED Registered Number 05236621

Micro-entity Balance Sheet as at 30 September 2017

	Notes	2017	2016
		£	£
Fixed assets
Tangible assets	1	162,533	167,118
		162,533	167,118
Current assets
Stocks		29,740	27,440
Debtors		23,354	5,880
Cash at bank and in hand		52,444	76,545
		105,538	109,865
Creditors: amounts falling due within one year		(129,511)	(118,955)
Net current assets (liabilities)		(23,973)	(9,090)
Total assets less current liabilities		138,560	158,028
Creditors: amounts falling due after more than one year		(39,480)	(39,480)
Total net assets (liabilities)		99,080	118,548
Capital and reserves
Called up share capital	2	2	2
Profit and loss account		99,078	118,546
Shareholders' funds		99,080	118,548

For the year ending 30 September 2017 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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 12 April 2018

And signed on their behalf by:
Mr A Bromley, Director
Mr K Bromley, Director

ABLE CARPETS LIMITED Registered Number 05236621

Notes to the Micro-entity Accounts for the period ended 30 September 2017

1Tangible fixed assets

	£
Cost
At 1 October 2016	225,120
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 September 2017	225,120
Depreciation
At 1 October 2016	58,002
Charge for the year	4,585
On disposals	-
At 30 September 2017	62,587
Net book values
At 30 September 2017	162,533
At 30 September 2016	167,118

2Called Up Share Capital
Allotted, called up and fully paid:

	2017 £	2016 £
2 Ordinary shares of £1 each	2	2

3Accounting Policies

Basis of measurement and preparation of accounts
The Accounts have been prepared under the Historical Cost convention and comply with Financial Reporting Standards of the Accounting Standards Board.

Turnover policy
Turnover represents the net amount of invoices to customers less credit notes for goods returned, excluding VAT.

Tangible assets depreciation policy
Depreciation is provided on the reducing balance basis.
The following rates have been applied: Freehold Property 1% Vehicles 18% Fixtures & Equipment 18% Office Equipment 18%.

Other accounting policies
Stock and Work in progress is valued at the lower of Cost and Net Realisable Value after making due allowance for obsolete and slow-moving Items. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
No provision has been made for Deferred Taxation as, in the opinion of the Directors, the amount is Immaterial and is not likely to arise in the foreseeable future.