For the year ended 30 September 2016
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 04293408
AB & Sons Limited
For the year ended 30 September 2016
1
Balance Sheet
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Notes to the Abbreviated Financial Statements
Notes to the Abbreviated Financial Statements |
AB & Sons Limited
For the year ended 30 September 2016
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Finance lease and hire purchase charges |
The finance element of the rental payment is charged to the profit and loss account on a straight line basis.
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved |
by the shareholders prior to the balance sheet date. |
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and Machinery
Assets on finance lease and hire purchase |
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and |
rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets |
and depreciated over the shorter of the lease term and their estimated expected useful lives. |
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods. |
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
The company's preference shares are treated as a financial liability since they are subject to mandatory redemption |
for a fixed or determinable amount at a fixed or determinable time and are thus included in creditors in the financial |
statements rather than as part of the company's issued share capital. |
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Notes to the Abbreviated Financial Statements |
AB & Sons Limited
For the year ended 30 September 2016
106,074
23,348
(18,500)
110,922
85,869
(14,723)
9,945
Charge for year
81,091
29,831
20,205
Allotted called up and fully paid |
2016
2015
100 Ordinary shares of £1.00 each |
100
100
1 Class B share of £1.00 each |
1
1
101
101
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