Abacus Locksmiths Limited - Limited company - abbreviated

REGISTERED NUMBER: SC116149 (Scotland)

Abbreviated Unaudited Accounts for the Year Ended 31 July 2014

for

Abacus Locksmiths Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

Chartered Accountants' Report

4

DIRECTOR:

L P Flanagan

SECRETARY:

L P Flanagan

REGISTERED OFFICE:

13 Fitzroy Place

Glasgow

G3 7RW

REGISTERED NUMBER:

SC116149 (Scotland)

ACCOUNTANTS:

R A Scott Wheelan & Co.

Chartered Accountants

13 Fitzroy Place

Glasgow

G3 7RW

SOLICITORS:

Burness (Glasgow)

CURRENT ASSETS

Debtors

4,177

4,791

Cash at bank

72

1,097

4,249

5,888

CREDITORS

Amounts falling due within one year

(18,514

)

(12,477

)

NET CURRENT ASSETS

22,763

18,365

TOTAL ASSETS LESS CURRENT
LIABILITIES

22,763

18,365

CAPITAL AND RESERVES

Called up share capital

3

1,000

Profit and loss account

21,763

17,365

SHAREHOLDERS' FUNDS

22,763

18,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 17 September 2014 and were signed by:

L P Flanagan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 August 2013

and 31 July 2014

40,815

DEPRECIATION

At 1 August 2013

and 31 July 2014

40,815

NET BOOK VALUE

At 31 July 2014

-

At 31 July 2013

-

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

1,000

Ordinary

£1

1,000

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to three)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Abacus Locksmiths Limited for the year ended 31 July 2014 which comprise the Profit and Loss

Account, the Balance Sheet, and the related notes 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 of Scotland, we are subject to its ethical and other

professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the director of Abacus Locksmiths Limited in accordance with our terms of engagement.

Our work has been undertaken solely to prepare for your approval the financial statements of Abacus Locksmiths

Limited and state those matters that we have agreed to state to the director of Abacus Locksmiths Limited in this report

in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at

http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume

responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Abacus Locksmiths Limited has kept adequate accounting records and to prepare statutory

financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abacus

Locksmiths Limited. You consider that Abacus Locksmiths 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 financial statements of Abacus Locksmiths 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 financial statements.

R A Scott Wheelan & Co.

Chartered Accountants

13 Fitzroy Place

Glasgow

G3 7RW

17 September 2014