Company Registration No. 07252201 (England and Wales)
ABRASHEM LIMITED
Unaudited accounts
for the year ended 31 May 2017
ABRASHEM LIMITED
Unaudited accounts
Contents
ABRASHEM LIMITED
Company Information
for the year ended 31 May 2017
Director
IRFAN SHAHZAD NAGI
Company Number
07252201 (England and Wales)
Registered Office
694 STRATFORD ROAD
SPARKHILL
BIRMINGHAM
B11 4AS
ABRASHEM LIMITED
Statement of financial position
as at 31 May 2017
Tangible assets
1,823
2,431
Cash at bank and in hand
1,179
1,399
Creditors: amounts falling due within one year
(19,152)
(29,153)
Net current liabilities
(15,113)
(24,953)
Total assets less current liabilities
(13,290)
(22,522)
Creditors: amounts falling due after more than one year
(13,411)
(16,712)
Net liabilities
(26,701)
(39,234)
Called up share capital
100
100
Profit and loss account
(26,801)
(39,334)
Shareholders' funds
(26,701)
(39,234)
For the year ending 31 May 2017 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 September 2017.
IRFAN SHAHZAD NAGI
Director
Company Registration No. 07252201
ABRASHEM LIMITED
Notes to the Accounts
for the year ended 31 May 2017
ABRASHEM LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07252201. The registered office and principal place of business is 694 STRATFORD ROAD, SPARKHILL, BIRMINGHAM, B11 4AS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 31 May 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 June 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% RB
ABRASHEM LIMITED
Notes to the Accounts
for the year ended 31 May 2017
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2016
4,224
308
4,532
At 31 May 2017
4,224
308
4,532
At 1 June 2016
1,848
253
2,101
Charge for the year
594
14
608
At 31 May 2017
2,442
267
2,709
At 31 May 2017
1,782
41
1,823
At 31 May 2016
2,376
55
2,431
Finished goods
2,860
1,000
7
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
225
88
Other creditors
8,729
8,729
Loans from directors
9,848
20,336
8
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
13,411
16,712
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 0 (2016: 0).