Registered Number 07414084

A.B.K. FURNISHINGS LIMITED

Abbreviated Accounts

31 October 2016

A.B.K. FURNISHINGS LIMITED Registered Number 07414084

Abbreviated Balance Sheet as at 31 October 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 9,012 292
9,012 292
Current assets
Stocks 24,558 24,638
Debtors 16,244 2,714
Cash at bank and in hand - 353
40,802 27,705
Creditors: amounts falling due within one year (28,215) (14,440)
Net current assets (liabilities) 12,587 13,265
Total assets less current liabilities 21,599 13,557
Creditors: amounts falling due after more than one year (661) -
Provisions for liabilities (1,306) -
Total net assets (liabilities) 19,632 13,557
Capital and reserves
Called up share capital 3 5 5
Profit and loss account 19,627 13,552
Shareholders' funds 19,632 13,557
  • 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 directors acknowledge their 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 Board on 19 July 2017

And signed on their behalf by:
Anthony James Geoffrey Howell, Director

A.B.K. FURNISHINGS LIMITED Registered Number 07414084

Notes to the Abbreviated Accounts for the period ended 31 October 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective January 2015.

Turnover policy
Turnover represents the total invoice value, excluding value added tax, of sales made during the year and derives from the provision of goods falling within the company's ordinary activities.

Tangible assets depreciation policy
Depreciation is provided at rayes calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings and equipment - 15% reducing balance
Motor vehicles - 25% reducing balance

Other accounting policies
Stock
Stock is valued at the lower of cost and net realisable value.

Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance shhet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more, tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all avaiable evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;

Provision is made for deferred tax that would arise on remittance of the retained earnings of overseas subsidiaries, associates and joint ventures only to the extent that, at the balance sheet date, dividends have been accrued as receivable;

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

2Tangible fixed assets
£
Cost
At 1 November 2015 292
Additions 10,414
Disposals -
Revaluations -
Transfers -
At 31 October 2016 10,706
Depreciation
At 1 November 2015 -
Charge for the year 1,694
On disposals -
At 31 October 2016 1,694
Net book values
At 31 October 2016 9,012
At 31 October 2015 292
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
2 A Ordinary shares of £1 each 2 2
1 B Ordinary share of £1 each 1 1
1 C Ordinary share of £1 each 1 1
1 D Ordinary share of £1 each 1 1