Abbtocone Ltd - Filleted accounts

Registered number

04169721

Abbtocone Ltd

Filleted Accounts

for the year ended 31 March 2017

Abbtocone Ltd
Registered number:		04169721
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Intangible assets	2		82,500			82,500
Tangible assets	3		26,222			222,015
			108,722			304,515
Current assets
Stocks		25,314			15,785
Debtors	4	9,022			8,302
Cash at bank and in hand		336			86
		34,672			24,173

Creditors: amounts falling due within one year	5	(104,436)			(181,323)

Net current liabilities			(69,764)			(157,150)

Total assets less current liabilities			38,958			147,365

Creditors: amounts falling due after more than one year	6		(40,059)			(153,838)


Net liabilities			(1,101)			(6,473)

Capital and reserves
Called up share capital			4			4
Profit and loss account			(1,105)			(6,477)

Shareholders' funds			(1,101)			(6,473)

The directors are 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 directors acknowledge their 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.



Mr Shailesh R Patel
Director
Approved by the board on 28 December 2017

Abbtocone Ltd
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.

	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			20% reducing balance
	Fixtures, fittings, tools and equipment			20% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method.

	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.


2	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2016							82,500
	At 31 March 2017							82,500

	Amortisation
	At 31 March 2017							-

	Net book value
	At 31 March 2017							82,500
	At 31 March 2016							82,500

	Goodwill is not being written off in equal annual instalments over its estimated economic life.

3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2016	192,853		87,848		69,759		350,460
	Additions	-		3,616		-		3,616
	Disposals	(192,853)		-		-		(192,853)
	At 31 March 2017	-		91,464		69,759		161,223

	Depreciation
	At 1 April 2016	-		63,331		65,114		128,445
	Charge for the year	-		5,627		929		6,556
	At 31 March 2017	-		68,958		66,043		135,001

	Net book value
	At 31 March 2017	-		22,506		3,716		26,222
	At 31 March 2016	192,853		24,517		4,645		222,015


4	Debtors					2017		2016
£							£

	Trade debtors					2,302		2,302
	Credit Union Saving account					500		500
	Van Deposit					720		-
	Other debtors					5,500		5,500
						9,022		8,302


5	Creditors: amounts falling due within one year					2017		2016
£							£

	Bank loans and overdrafts					16,285		15,037
	Trade creditors					7,891		8,278
	NEST Pension					56		-
	Purley Post Office					28,950		21,579
	Taxation and social security costs					(27,224)		626
	Wages Control acct					12,823		7,651
	Camelott Acct					426		426
	Other creditors					65,229		127,726
						104,436		181,323

6	Creditors: amounts falling due after one year					2017		2016
£							£

	Bank loans					-		125,714
	New Wave Capital Ltd -Loan					4,445		-
	Credit union Loan					1,229		9,273
	Fund Circle Business Loan					22,152		-
	Nationwide Loan					-		2,830
	Commercial Mortgage Loan					12,233		16,021
						40,059		153,838

7	Other information
	Abbtocone Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	25 Balham High Road
	Balham
	London
	SW12 9AL