Registered number
04434148
Abcas (UK) Limited
Unaudited Filleted Accounts
31 March 2017
Abcas (UK) Limited
Registered number: 04434148
Balance Sheet
as at 31 March 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 16,453 21,655
Current assets
Stocks 8,735 20,943
Debtors 4 99,907 80,761
Cash at bank and in hand 8,588 23,157
117,230 124,861
Creditors: amounts falling due within one year 5 (95,554) (81,637)
Net current assets 21,676 43,224
Total assets less current liabilities 38,129 64,879
Provisions for liabilities (2,593) -
Net assets 35,536 64,879
Capital and reserves
Called up share capital 100 100
Profit and loss account 35,436 64,779
Shareholders' funds 35,536 64,879
The director is 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 director acknowledges his 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.
Adrian Ison
Director
Approved by the board on 15 November 2017
Abcas (UK) Limited
Notes to the Accounts
for the year ended 31 March 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.
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 25% Reducing balance
Fixture & fittings 15% Reducing balance
Motor Vehicles 25% Reducing balance
Computer equipment 25% Straight line
Work in progress
Work in progress is vaued at the lower of cost and net realisable value less costs to complete. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 4 6
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2016 44,258 37,072 81,330
Additions 316 - 316
At 31 March 2017 44,574 37,072 81,646
Depreciation
At 1 April 2016 37,776 21,899 59,675
Charge for the year 1,724 3,794 5,518
At 31 March 2017 39,500 25,693 65,193
Net book value
At 31 March 2017 5,074 11,379 16,453
At 31 March 2016 6,482 15,173 21,655
4 Debtors 2017 2016
£ £
Trade debtors 88,431 68,456
Other debtors 11,476 12,305
99,907 80,761
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 3,772 -
Trade creditors 5,412 20,316
Other taxes and social security costs 41,604 42,048
Other creditors 44,766 19,273
95,554 81,637
6 Controlling party
The company is controlled by the director by virtue of his 100% ownership of the called up share capital.
7 Other information
Abcas (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Units 4-6 Weston Business Park
Locking Moor Road
Weston-super-Mare
North Somerset
BS24 8RA
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