Abacus Building Services Limited Small abbreviated accounts

COMPANY REGISTRATION NUMBER 06681614

ABACUS BUILDING SERVICES LIMITED

UNAUDITED ABBREVIATED ACCOUNTS

FOR

31 August 2016

MMA PARTNERSHIP LLP

Chartered Certified Accountants

6 Bruce Grove

London

N17 6RA

ABACUS BUILDING SERVICES LIMITED

ABBREVIATED BALANCE SHEET

31 August 2016

		2016		2015
Note		£	£	£	£
FIXED ASSETS	2
Tangible assets			15,164		18,332

CURRENT ASSETS

Stocks	35,000		15,500
Debtors	132,456		37,704
Cash at bank and in hand	319,688		167,322
	----------		----------
	487,144		220,526
CREDITORS: Amounts falling due within one year	123,395		84,341
	----------		----------
NET CURRENT ASSETS		363,749		136,185
		----------		----------
TOTAL ASSETS LESS CURRENT LIABILITIES		378,913		154,517

PROVISIONS FOR LIABILITIES	3,033	3,667
	----------	----------
	375,880	150,850
	----------	----------

CAPITAL AND RESERVES

Called up equity share capital	3	100	100
Profit and loss account		375,780	150,750
		----------	----------
SHAREHOLDER'S FUNDS		375,880	150,850
		----------	----------

For the year ended 31 August 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 16 May 2017 .

Ms. L. J. Spagnoli

Company Registration Number: 06681614

ABACUS BUILDING SERVICES LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

YEAR ENDED 31 AUGUST 2016

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover comprises sales to customers after discounts, excluding Value Added Tax. Where the outcome of construction contracts can be assessed with reasonable certainty, the revenues and costs on such contracts are recognised based on stage of completion. Contract revenue is recognised by reference to the stage of completion based on work performed to date. The assessment of the stage of completion is dependent on the nature of the contract, but will generally be based on costs incurred to the extent these relate to the contract costs arising up to the reporting date.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery-25% reducing balance

Motor Vehicles-25% reducing balance

Stocks

Stocks are valued at lower of cost and net realisable value.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing differences are expected to reverse, based on the tax rate and laws that have been enacted by the balance sheet date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2. FIXED ASSETS

	Tangible Assets
	£

COST

At 1 September 2015	35,514
Additions	1,886
	---------
At 31 August 2016	37,400
	---------

DEPRECIATION

At 1 September 2015	17,182
Charge for year	5,054
	---------
At 31 August 2016	22,236
	---------

NET BOOK VALUE

At 31 August 2016	15,164
	---------

At 31 August 2015	18,332
	---------

3. SHARE CAPITAL

Allotted, called up and fully paid:

	2016		2015
	No.	£	No.	£
Ordinary shares of £ 1 each	100	100	100	100
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