Abiton Limited - Filleted accounts

Abiton Limited
Registered number:		04412641
Balance Sheet
as at 30 April 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		51,220			54,168

Current assets
Stocks		2,500			2,500
Debtors	3	1,895			1,305
Cash at bank and in hand		40,299			27,767
		44,694			31,572

Creditors: amounts falling due within one year	4	(28,010)			(31,545)

Net current assets			16,684			27

Net assets			67,904			54,195

Capital and reserves
Called up share capital			100			100
Profit and loss account			67,804			54,095

Shareholders' funds			67,904			54,195

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




PB Bennett
Director
Approved by the board on 6 July 2017

Abiton Limited
Notes to the Accounts
for the year ended 30 April 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:



	Plant and machinery			over 5 years
	Fixtures, fittings, tools and equipment			over 5 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 May 2016	25,059		138,198		67,870		231,127
	At 30 April 2017	25,059		138,198		67,870		231,127

	Depreciation
	At 1 May 2016	-		120,702		56,257		176,959
	Charge for the year	-		1,648		1,300		2,948
	At 30 April 2017	-		122,350		57,557		179,907

	Net book value
	At 30 April 2017	25,059		15,848		10,313		51,220
	At 30 April 2016	25,059		17,496		11,613		54,168


3	Debtors					2017		2016
£							£

	Other debtors					1,895		1,305


4	Creditors: amounts falling due within one year					2017		2016
£							£

	Other taxes and social security costs					601		601
	Other creditors					27,409		30,944
						28,010		31,545


5	Controlling party

	The Company is controlled by its Directors.


6	Other information

	Abiton Limited is a private company limited by shares and incorporated in England. Its registered office is:
	11 Clifford Close
	Chesterfield
	S40 3PP