ABS Comtech Limited 01552969 false true 2015-12-31 2016-12-30 2016-12-30 01552969 2015-12-31 2016-12-30 01552969 2016-12-30 01552969 uk-bus:OrdinaryShareClass1 2016-12-30 01552969 uk-bus:Director2 2015-12-31 2016-12-30 01552969 uk-bus:OrdinaryShareClass1 2015-12-31 2016-12-30 01552969 uk-bus:EntityAccountantsOrAuditors 2015-12-31 2016-12-30 01552969 uk-gaap:PlantMachinery 2015-12-31 2016-12-30 01552969 2015-12-30 01552969 2015-12-30 01552969 uk-bus:OrdinaryShareClass1 2015-12-30 iso4217:GBP xbrli:shares

Registration number: 01552969

ABS Comtech Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 December 2016
 

Aims Accountants
Chartered Accountants
Tudor House
The Green
Great Bentley
Colchester
Essex
CO7 8PG

 

ABS Comtech Limited
Contents

Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3 to 4

 

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ABS Comtech Limited
for the Year Ended 30 December 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABS Comtech Limited for the year ended 30 December 2016 set out on pages 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 in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of ABS Comtech Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of ABS Comtech Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABS Comtech Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABS Comtech Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of ABS Comtech Limited. You consider that ABS Comtech 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 accounts of ABS Comtech 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 accounts.

......................................

Aims Accountants
Chartered Accountants
Tudor House
The Green
Great Bentley
Colchester
Essex
CO7 8PG

12 June 2017

 

ABS Comtech Limited
(Registration number: 01552969)
Abbreviated Balance Sheet at 30 December 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

1,331

   

1,775

 

Current assets

 

             

Stocks

 

   

10,600

   

10,225

 

Debtors

 

   

4,891

   

8,832

 

Cash at bank and in hand

 

   

5,868

   

11,871

 
   

   

21,359

   

30,928

 

Creditors: Amounts falling due within one year

 

   

(19,140)

   

(22,557)

 

Net current assets

 

   

2,219

   

8,371

 

Net assets

 

   

3,550

   

10,146

 

Capital and reserves

 

             

Called up share capital

 

3

   

41

   

41

 

Profit and loss account

 

   

3,509

   

10,105

 

Shareholders' funds

 

   

3,550

   

10,146

 

For the year ending 30 December 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 12 June 2017 and signed on its behalf by:

.........................................
Mrs C A Pettifer
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

 

ABS Comtech Limited
Notes to the Abbreviated Accounts for the Year Ended 30 December 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

Plant & Machinery

25% Reducing Balance Basis

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

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.

 

ABS Comtech Limited
Notes to the Abbreviated Accounts for the Year Ended 30 December 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 31 December 2015

 

28,834

   

28,834

 

At 30 December 2016

 

28,834

   

28,834

 

Depreciation

           

At 31 December 2015

 

27,059

   

27,059

 

Charge for the year

 

444

   

444

 

At 30 December 2016

 

27,503

   

27,503

 

Net book value

           

At 30 December 2016

 

1,331

   

1,331

 

At 30 December 2015

 

1,775

   

1,775

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary Shares of £1 each

 

41

   

41

   

41

   

41