Abacus Windows Commercial Limited - Period Ending 2016-11-30

Abacus Windows Commercial Limited

and Unaudited Abbreviated Accounts

for the Year Ended 30 November 2016

Lambert Chapman LLP
Chartered Accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Abacus Windows Commercial Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 4

Registration number: 03670520

Abacus Windows Commercial Limited
Balance Sheet as at 30 November 2016

	Note	2016 £	2015 £
Fixed assets
Tangible fixed assets	2	121,716	18,527
Current assets
Stocks		61,000	67,000
Debtors	3	189,857	183,146
Cash at bank and in hand		163,379	203,108
		414,236	453,254
Creditors: Amounts falling due within one year	4	(434,702)	(418,162)
Net current (liabilities)/assets		(20,466)	35,092
Total assets less current liabilities		101,250	53,619
Creditors: Amounts falling due after more than one year	4	(54,589)	(8,715)
Provisions for liabilities		(23,849)	(3,343)
Net assets		22,812	41,561
Capital and reserves
Called up share capital	5	100	100
Profit and loss account		22,712	41,461
Shareholders' funds		22,812	41,561

For the year ending 30 November 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 and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

Approved by the director on 30 August 2017

S S Rhodes
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

Abacus Windows Commercial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 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 net invoiced sales of double glazing, on an accruals basis, excluding value added tax.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life

Asset class	Depreciation method and rate
Improvements to property	10% Straight Line Method
Fixtures and fittings	25% Reducing Balance Method
Motor vehicles	25% Reducing Balance Method
Computer equipment	50% Straight Line Method

Stock

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

Deferred tax

Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the balance sheet date

Hire purchase and leasing

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Page 2

Abacus Windows Commercial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 December 2015	75,421	75,421
Additions	111,839	111,839
At 30 November 2016	187,260	187,260
Depreciation
At 1 December 2015	56,894	56,894
Charge for the year	8,650	8,650
At 30 November 2016	65,544	65,544
Net book value
At 30 November 2016	121,716	121,716
At 30 November 2015	18,527	18,527

Debtors

Debtors includes £31,153 (2015 - £31,153) receivable after more than one year.

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

	2016 £	2015 £

Amounts falling due within one year	8,008	11,711
Amounts falling due after more than one year	-	8,715
Total secured creditors	8,008	20,426

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Abacus Windows Commercial Limited
Notes to the Abbreviated Accounts for the Year Ended 30 November 2016
......... continued

5	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary Shares of £1 each		-	-		100	100
Ordinary A shares of £1 each		70	70		-	-
Ordinary B Shares of £1 each		10	10		-	-
Ordinary C Shares of £1 each		10	10		-	-
Ordinary D Shares of £1 each		10	10		-	-
		100	100		100	100

On 9 June 2016 100 Ordinary £1 Shares were redesignated as 70 Ordinary A, 10 Ordinary B, 10 Ordinary C and 10 Ordinary D £1 shares. The rights of each class of share are identical and rank pari passu.

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