REGISTERED NUMBER: SC065106 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 October 2014

for

A. B. Factoring Services Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Accountants' Report

6

DIRECTOR:

Mrs M J Brown

SECRETARY:

B R Smith

REGISTERED OFFICE:

29 Portland Road

Kilmarnock

Ayrshire

KA1 2BY

REGISTERED NUMBER:

SC065106 (Scotland)

ACCOUNTANTS:

Rogerson & Goldie

Chartered Accountants

29 Portland Road

Kilmarnock

KA1 2BY

FIXED ASSETS

Tangible assets

2

1

25,505

CURRENT ASSETS

Debtors

60

29,514

Cash at bank

1,244

98,756

1,304

128,270

CREDITORS

Amounts falling due within one year

-

33,127

NET CURRENT ASSETS

1,304

95,143

TOTAL ASSETS LESS CURRENT LIABILITIES

1,305

120,648

CREDITORS

Amounts falling due after more than one year

115

415

NET ASSETS

1,190

120,233

CAPITAL AND RESERVES

Called up share capital

3

7,500

16,500

Capital redemption reserve

9,000

-

Profit and loss account

(15,310

)

103,733

SHAREHOLDERS' FUNDS

1,190

120,233

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 27 November 2014 and were signed by:

Mrs M J Brown - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2.5% on reducing balance

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the

balance sheet date. Deferred Tax assets are only recognised to the extent that it is more likely than not that they

will be recovered.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2013

88,403

Disposals

(63,447

)

At 31 October 2014

24,956

DEPRECIATION

At 1 November 2013

62,898

Eliminated on disposal

(37,943

)

At 31 October 2014

24,955

NET BOOK VALUE

At 31 October 2014

1

At 31 October 2013

25,505

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

7,500

Ordinary Shares

£1

7,500

16,500

(2013 - 16,500 )

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The Directors' current accounts included in Creditors amounts due after one year are unsecured and repayable on

demand.

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of A. B. Factoring Services Limited for the year ended 31 October 2014 which comprise the Profit

and Loss Account, the Balance Sheet, and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other

professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of A. B. Factoring Services Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A. B.

Factoring Services Limited and state those matters that we have agreed to state to the director of A. B. Factoring

Services Limited in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland

as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not

accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that A. B. Factoring Services Limited has kept adequate accounting records and to prepare

statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A. B.

Factoring Services Limited. You consider that A. B. Factoring Services Limited is exempt from the statutory audit

requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A. B. Factoring Services

Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and

explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rogerson & Goldie

Chartered Accountants

29 Portland Road

Kilmarnock

KA1 2BY

27 November 2014