ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

FOR

ABACUS INDUSTRIAL FLOORING LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

G M Miles

SECRETARY:

Ms J Parker

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

06708358 (England and Wales)

FIXED ASSETS

Intangible assets

2

99,000

132,000

Tangible assets

3

24,026

30,614

123,026

162,614

CURRENT ASSETS

Stocks

6,000

7,500

Debtors

790,907

732,437

Cash at bank and in hand

3,069

4,126

799,976

744,063

CREDITORS

Amounts falling due within one year

(456,864

)

(531,620

)

NET CURRENT ASSETS

343,112

212,443

TOTAL ASSETS LESS CURRENT LIABILITIES

466,138

375,057

PROVISIONS FOR LIABILITIES

(4,805

)

(6,123

)

NET ASSETS

461,333

368,934

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

461,233

368,834

SHAREHOLDERS' FUNDS

461,333

368,934

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 31 January 2017 and were signed by:

G M Miles - 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 January 2015).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

straight line over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

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.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

330,000

AMORTISATION

At 1 May 2015

198,000

Amortisation for year

33,000

At 30 April 2016

231,000

NET BOOK VALUE

At 30 April 2016

99,000

At 30 April 2015

132,000

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

62,309

DEPRECIATION

At 1 May 2015

31,695

Charge for year

6,588

At 30 April 2016

38,283

NET BOOK VALUE

At 30 April 2016

24,026

At 30 April 2015

30,614

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

90

Ordinary

£1

90

90

10

Ordinary A

£1

10

10

100

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES