Abtech Garage Limited

		2016		2015
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	2		1		1
Tangible Assets	3		8,339		12,686

			8,340		12,687
CURRENT ASSETS
Debtors		22,561		11,249

		22,561		11,249
Creditors: Amounts Falling Due Within One Year		(82,180 )		(95,115 )

NET CURRENT ASSETS (LIABILITIES)			(59,619 )		(83,866 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(51,279 )		(71,179 )

Creditors: Amounts Falling Due After More Than One Year	4		-		(1,087 )

NET ASSETS			(51,279 )		(72,266 )

CAPITAL AND RESERVES
Called up share capital	5		1		1
Profit and Loss Account			(51,280 )		(72,267 )

SHAREHOLDERS' FUNDS			(51,279 )		(72,266 )

Company No. 04481193

Abbreviated Balance Sheet (continued) 31 July 2016

For the year ending 31 July 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has 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 abbreviated accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

On behalf of the board

Mr. Terrence Harman

20/04/2017

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

20% per annum of cost

1.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

2. Intangible Assets


	Total
Cost	£
As at 1 August 2015	30,000

As at 31 July 2016	30,000

Amortisation
As at 1 August 2015	29,999

As at 31 July 2016	29,999

Net Book Value
As at 31 July 2016	1

As at 1 August 2015	1

Page 2

Abtech Garage Limited

Notes to the Abbreviated Accounts (continued)

For The Year Ended 31 July 2016

3. Tangible Assets


	Total
Cost	£
As at 1 August 2015	25,146

As at 31 July 2016	25,146

Depreciation
As at 1 August 2015	12,460
Provided during the period	4,347

As at 31 July 2016	16,807

Net Book Value
As at 31 July 2016	8,339

As at 1 August 2015	12,686

4. Creditors: Amounts Falling Due After More Than One Year

	2016	2015
	£	£
Net obligations under finance lease and hire purchase contracts	-	1,087

5. Share Capital

	Value	Number	2016	2015
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	1	1	1

6. Ultimate Controlling Party

The company's ultimate controlling party is Mr T C Harman by virtue of his ownership of 100% of the issued share capital in the company.