A & B Spectacles Ltd

Abbreviated Unaudited Accounts for the Year Ended 30 June 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTOR:

Dr A K Bansal

SECRETARY:

Mrs N Bansal

REGISTERED OFFICE:

48-52 Penny Lane

Mossley Hill

Liverpool

L18 1DG

REGISTERED NUMBER:

04451116 (England and Wales)

ACCOUNTANTS:

MATTHEWS SUTTON & CO LTD

Chartered Certified Accountants

48 - 52 Penny Lane

Mossley Hill

Liverpool

L18 1DG

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

837

1,067

837

1,067

CURRENT ASSETS

Stocks

3,500

5,550

Debtors

9,990

5,297

Cash at bank

385

1,480

13,875

12,327

CREDITORS

Amounts falling due within one year

7,690

38,039

NET CURRENT ASSETS/(LIABILITIES)

6,185

(25,712

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

7,022

(24,645

)

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

6,922

(24,745

)

SHAREHOLDERS' FUNDS

7,022

(24,645

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2016 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 28 March 2017 and were signed by:

Dr A K Bansal - 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 January 2015).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

33% on cost and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

and 30 June 2016

4,400

AMORTISATION

At 1 July 2015

and 30 June 2016

4,400

NET BOOK VALUE

At 30 June 2016

-

At 30 June 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2015

6,665

Disposals

(1,064

)

At 30 June 2016

5,601

DEPRECIATION

At 1 July 2015

5,598

Charge for year

230

Eliminated on disposal

(1,064

)

At 30 June 2016

4,764

NET BOOK VALUE

At 30 June 2016

837

At 30 June 2015

1,067

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100