Abbey Builders (London) Limited - Period Ending 2016-08-31

Abbey Builders (London) Limited (Registration number: 04223108)
Abbreviated Balance Sheet
at 31 August 2016

		Note		2016				2015
	£		£		£		£
Fixed assets
Tangible fixed assets						10,268			13,691
Current assets
Debtors				303,603				227,543
Cash at bank and in hand				33,080				423
				336,683				227,966
Creditors: Amounts falling due within one year				(329,507)				(233,420)
Net current assets/(liabilities)						7,176			(5,454)
Net assets						17,444			8,237
Capital and reserves
Called up share capital		3		50				50
Profit and loss account				17,394				8,187
Shareholders' funds						17,444			8,237

For the year ending 31 August 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 2 March 2017 and signed on its behalf by:

.........................................
Mr A Ioannou
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Abbey Builders (London) Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 August 2016......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Land and buildings	straight line over 10 years
Plant and machinery	25% reducing balance basis

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 2

Abbey Builders (London) Limited
Notes to the Abbreviated Accounts
for the Year Ended 31 August 2016......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 September 2015	71,484	71,484
At 31 August 2016	71,484	71,484
Depreciation
At 1 September 2015	57,793	57,793
Charge for the year	3,423	3,423
At 31 August 2016	61,216	61,216
Net book value
At 31 August 2016	10,268	10,268
At 31 August 2015	13,691	13,691

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary shares of £1 each		50	50		50	50

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