Abacus Construction Products Limited - Period Ending 2016-10-31

Abacus Construction Products Limited

andUnaudited Abbreviated Accounts

for the Year Ended 31 October 2016

Manningtons
8 High Street
Heathfield
East Sussex
TN21 8LS

Abacus Construction Products Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Abacus Construction Products Limited
(Registration number: 06744100)
Abbreviated Balance Sheet at 31 October 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets		-	83
Current assets
Stocks		5,960	2,815
Debtors		140	324
Cash at bank and in hand		974	653
		7,074	3,792
Creditors: Amounts falling due within one year		(9,894)	(7,529)
Net current liabilities		(2,820)	(3,737)
Net liabilities		(2,820)	(3,654)
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(2,920)	(3,754)
Shareholders' deficit		(2,820)	(3,654)

For the year ending 31 October 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 22 March 2017 and signed on its behalf by:

.........................................
W Holland
Director

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

Abacus Construction Products Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 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).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable 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
Computer equipment	33% Straight Line

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.

Page 2

Abacus Construction Products Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 November 2015	1,302	1,302
At 31 October 2016	1,302	1,302
Depreciation
At 1 November 2015	1,219	1,219
Charge for the year	83	83
At 31 October 2016	1,302	1,302
Net book value
At 31 October 2016	-	-
At 31 October 2015	83	83

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary A of £1 each		50	50		50	50
Ordinary B of £1 each		50	50		50	50
		100	100		100	100

Page 3