Able Safety Solutions Ltd Small abbreviated accounts

COMPANY REGISTRATION NUMBER 07402234

Able Safety

Solutions Ltd

Unaudited

Abbreviated accounts

31 October 2016

Able Safety Solutions Ltd

Abbreviated balance sheet

31 October 2016

		2016		2015
Note		£	£	£
Fixed assets	2
Tangible assets			19,878	37,487
			--------	--------

Current assets

Stocks		3,485		4,245
Debtors		153,831		146,816
Cash at bank and in hand		45,172		24,972
		---------		---------
		202,488		176,033
Creditors: Amounts falling due within one year	3	127,961		117,578
		---------		---------
Net current assets			74,527	58,455
			--------	--------
Total assets less current liabilities			94,405	95,942

Creditors: Amounts falling due after more than one year	4		2,355	12,464

Provisions for liabilities	-	2,069
	--------	--------
	92,050	81,409
	--------	--------

Capital and reserves

Called up equity share capital	5	100	100
Profit and loss account		91,950	81,309
		--------	--------
Shareholders' funds		92,050	81,409
		--------	--------

For the year ended 31 October 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

- 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 special provisions applicable to companies subject to the small companies regime.

These abbreviated accounts were approved and signed by the director and authorised for issue on 26 July 2017 .

Mr R L Barcoe Director

Company Registration Number: 07402234

Able Safety Solutions Ltd

Notes to the abbreviated accounts

Year ended 31 October 2016

1. Accounting policies

(a) Basis of accounting

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

(b) Turnover

The turnover shown in the profit and loss account represents the invoice value of goods and services provided during the year, exclusive of Value Added Tax.

(c) Fixed assets

All fixed assets are initially recorded at cost.

(d) Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery-straight line over 4 years

Fixtures & Fittings-straight line over 4 years

Motor Vehicles-straight line over 4 years

(e) Stocks

Stock is valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

(f) Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

(g) Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

(h) Deferred taxation

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no commitment to sell the asset.

Deferred tax assets and liabilities are not discounted.

(i) Financial instruments

Financial instrument are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

(j) Income from operating leases

Assets held for use in rental agreements are recorded as fixed assets and depreciated over their useful lives. Income from rentals represents the aggregate rentals receivable in respect of the accounting period.

2. Fixed assets

	Tangible Assets
	£

Cost

At 1 November 2015	196,336
Additions	5,395
	---------
At 31 October 2016	201,731
	---------

Depreciation

At 1 November 2015	158,849
Charge for year	23,004
	---------
At 31 October 2016	181,853
	---------

Net book value

At 31 October 2016	19,878
	--------

At 31 October 2015	37,487
	--------

At the year end the gross value of assets held for use in operating leases was £ 124,846 (2015 - £ 119,451 ). The related accumulated depreciation amounted to £ 115,475 (2015 - £ 100,175 ).

3. Creditors: Amounts falling due within one year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2016	2015
	£	£
Payments received on account	41,858	49,872
Hire purchase agreements	10,150	5,532
	--------	--------
	52,008	55,404
	--------	--------

4. Creditors: Amounts falling due after more than one year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2016	2015
	£	£
Hire purchase agreements	2,355	12,464
	-------	--------

5. Share capital

Allotted, called up and fully paid:

	2016		2015
	No	£	No	£
Ordinary shares of £ 1 each	100	100	100	100
	----	----	----	----