Registered Number SC346864

ABW BARRIERS & GATES LTD

Abbreviated Accounts

31 August 2016

ABW BARRIERS & GATES LTD Registered Number SC346864

Abbreviated Balance Sheet as at 31 August 2016

Notes 2016 2015
£ £
Fixed assets
Tangible assets 2 11,728 21,433
11,728 21,433
Current assets
Stocks 875 960
Debtors 49,738 35,605
Cash at bank and in hand 13,082 13,763
63,695 50,328
Creditors: amounts falling due within one year (68,990) (63,197)
Net current assets (liabilities) (5,295) (12,869)
Total assets less current liabilities 6,433 8,564
Provisions for liabilities (2,346) (4,287)
Total net assets (liabilities) 4,087 4,277
Capital and reserves
Called up share capital 3 600 600
Profit and loss account 3,487 3,677
Shareholders' funds 4,087 4,277
  • For the year ending 31 August 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 31 May 2017

And signed on their behalf by:
B W Anderson, Director

ABW BARRIERS & GATES LTD Registered Number SC346864

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

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts are 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 rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Fixtures, fittings
and equipment - 50% straight line
Motor vehicles - 25% straight line

Valuation information and policy
Stock and work in progress
Work in progress is valued at the lower of cost and net realisable value.

Other accounting policies
Deferred taxation

Deferred tax is recognised in respect of all timing differences that have originated but not reversed a the balance sheet 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 available 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 September 2015 38,103
Additions -
Disposals -
Revaluations -
Transfers -
At 31 August 2016 38,103
Depreciation
At 1 September 2015 16,670
Charge for the year 9,705
On disposals -
At 31 August 2016 26,375
Net book values
At 31 August 2016 11,728
At 31 August 2015 21,433
3Called Up Share Capital
Allotted, called up and fully paid:
2016
£
2015
£
600 Ordinary shares of £1 each 600 600