Abbreviated Company Accounts - ABRACORE LIMITED

ABRACORE LIMITED Registered Number 05285024

Abbreviated Balance Sheet as at 31 January 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	1,422,419	1,422,419
Investments	3	1	1
		1,422,420	1,422,420
Current assets
Stocks		4,255,618	4,102,055
Debtors		9,466	6,874
		4,265,084	4,108,929
Creditors: amounts falling due within one year	4	(1,547,317)	(1,541,600)
Net current assets (liabilities)		2,717,767	2,567,329
Total assets less current liabilities		4,140,187	3,989,749
Creditors: amounts falling due after more than one year	4	(5,283,215)	(5,201,491)
Total net assets (liabilities)		(1,143,028)	(1,211,742)
Capital and reserves
Called up share capital	5	2	2
Profit and loss account		(1,143,030)	(1,211,744)
Shareholders' funds		(1,143,028)	(1,211,742)

For the year ending 31 January 2016 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 21 October 2016

And signed on their behalf by:
H. Singh, Director

ABRACORE LIMITED Registered Number 05285024

Notes to the Abbreviated Accounts for the period ended 31 January 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Tangible assets depreciation policy
No Depreciation has been provided on the Freehold Properties and the Director has carefully considered this departure from the requirements of the Companies Act 2006. It is the policy of the board to ensure that the Freehold Property Premises are continually maintained in a sound state of repair and accordingly the Director considers that the lives of such premises are so long and the residual value so high that depreciation is unnecessary

Other accounting policies
Investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

Stock
Stock is valued at the lower of cost and net realisable value.

Group accounts
The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts.

Going concern
At 31 January 2016, the company had a deficiency of assets amounting to £1,143,030. The company is reliant upon the financial support of its creditors who has indicated that this will be continued for at least a further twelve months from the date of approval of these accounts.

2Tangible fixed assets

	£
Cost
At 1 February 2015	1,422,419
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 January 2016	1,422,419
Depreciation
At 1 February 2015	-
Charge for the year	-
On disposals	-
At 31 January 2016	-
Net book values
At 31 January 2016	1,422,419
At 31 January 2015	1,422,419

3Fixed assets Investments
Holdings of 20% or more
The company holds 20% or more of the share capital of the following companies:

Abraglade Limited
Incorporated in England & Wales
Nature of business - Property investment
Shares held - Ordinary
100%

The aggregate amount of capital and reserves and the result of these undertakings for the last relevant financial year were as follows:

Abraglade Limited

Capital and reserves - £74,373
Profit for the year - £74,372

4Creditors

	2016 £	2015 £
Secured Debts	97,644	99,410
Instalment debts due after 5 years	804,776	884,664

5Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
2 Ordinary shares of £1 each	2	2