Registered number
04457982
ABM Building Services Limited
Filleted Accounts
31 July 2017
ABM Building Services Limited
Registered number: 04457982
Balance Sheet
as at 31 July 2017
Notes 2017 2016
£ £
Fixed assets
Tangible assets 3 19,899 26,691
Current assets
Stocks 7,993 31,495
Debtors 4 53,762 54,832
Cash at bank and in hand 131,499 152,726
193,254 239,053
Creditors: amounts falling due within one year 5 (91,987) (101,009)
Net current assets 101,267 138,044
Total assets less current liabilities 121,166 164,735
Creditors: amounts falling due after more than one year 6 (60,000) (97,500)
Net assets 61,166 67,235
Capital and reserves
Called up share capital 100 100
Profit and loss account 61,066 67,135
Shareholders' funds 61,166 67,235
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.
C Gadd
Director
Approved by the board on 13 February 2018
ABM Building Services Limited
Notes to the Accounts
for the year ended 31 July 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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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 over 4 years
Fixtures, fittings, tools and equipment over 4 years
Work-in-progress
Work-in-progress is measured at the lower of cost and estimated selling price less costs to complete and sell.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2017 2016
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Plant and equipment Motor vehicles Total
£ £ £
Cost
At 1 August 2016 4,177 33,550 37,727
Additions 3,094 - 3,094
At 31 July 2017 7,271 33,550 40,821
Depreciation
At 1 August 2016 2,648 8,388 11,036
Charge for the year 1,498 8,388 9,886
At 31 July 2017 4,146 16,776 20,922
Net book value
At 31 July 2017 3,125 16,774 19,899
At 31 July 2016 1,529 25,162 26,691
4 Debtors 2017 2016
£ £
Trade debtors 37,172 37,946
Other debtors 16,590 16,886
53,762 54,832
5 Creditors: amounts falling due within one year 2017 2016
£ £
Bank loans and overdrafts 6,876 5,970
Trade creditors 34,171 43,796
Taxation and social security costs 35,700 43,564
Other creditors 15,240 7,679
91,987 101,009
6 Creditors: amounts falling due after one year 2017 2016
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 60,000 97,500
7 Controlling party
The company is wholly owned by ABM BUILD Ltd, a company under the control of Mrs & Mrs Gadd, the directors and majority shareholders.
8 Other information
ABM Building Services Limited is a private company limited by shares and incorporated in England. Its registered office is:
F2 Sussex Manor Business Park
Gatwick Road, Crawley, RH10 9NH
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