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Registration number: 04924746

Able Mobility Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 October 2016
 

 

Able Mobility Limited
Contents

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

2 to 3

 

Able Mobility Limited (Registration number: 04924746)
Abbreviated Balance Sheet at 31 October 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

   

3,097

   

4,308

 

Current assets

 

             

Stocks

 

   

29,167

   

33,168

 

Debtors

 

   

26,650

   

24,977

 

Cash at bank and in hand

 

   

1,756

   

10,731

 
   

   

57,573

   

68,876

 

Creditors: Amounts falling due within one year

 

   

(45,661)

   

(59,161)

 

Net current assets

 

   

11,912

   

9,715

 

Total assets less current liabilities

 

   

15,009

   

14,023

 

Provisions for liabilities

 

   

(619)

   

-

 

Net assets

 

   

14,390

   

14,023

 

Capital and reserves

 

             

Called up share capital

 

3

   

100

   

100

 

Profit and loss account

 

   

14,290

   

13,923

 

Shareholders' funds

 

   

14,390

   

14,023

 

For the year ending 31 October 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 25 July 2017

.........................................
Mr R A Fletcher
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

 

Able Mobility Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

1

Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, 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 amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Fixtures and fittings

10% reducing balance per annum

Motor vehicles

25% reducing balance per annum

Office equipment

20 % reducing balance per annum

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

 

Able Mobility Limited
Notes to the Abbreviated Accounts for the Year Ended 31 October 2016
......... continued

2

Fixed assets

   

Tangible assets
£

   

Total
£

 

Cost

           

At 1 November 2015

 

15,727

   

15,727

 

Disposals

 

(1,535)

   

(1,535)

 

At 31 October 2016

 

14,192

   

14,192

 

Depreciation

           

At 1 November 2015

 

11,419

   

11,419

 

Charge for the year

 

653

   

653

 

Eliminated on disposals

 

(977)

   

(977)

 

At 31 October 2016

 

11,095

   

11,095

 

Net book value

           

At 31 October 2016

 

3,097

   

3,097

 

At 31 October 2015

 

4,308

   

4,308

 

3

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

100

   

100

   

100

   

100