Abilock Limited - Period Ending 2013-09-30

Abilock Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 September 2013

Wenn Townsend
Chartered Accountants
10 Broad Street
Abingdon
Oxon
OX14 3LH

Abilock Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

Abilock Limited
(Registration number: 05228110)
Abbreviated Balance Sheet at 30 September 2013

	Note	2013 £	2012 £
Fixed assets
Tangible fixed assets		3,697	4,906
Current assets
Stocks		6,101	6,262
Debtors		2,284	4,827
Cash at bank and in hand		326	2,936
		8,711	14,025
Creditors: Amounts falling due within one year		(13,328)	(16,949)
Net current liabilities		(4,617)	(2,924)
Net (liabilities)/assets		(920)	1,982
Capital and reserves
Called up share capital	3	100	100
Profit and loss account		(1,020)	1,882
Shareholders' (deficit)/funds		(920)	1,982

For the year ending 30 September 2013 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 .

Approved by the director on 10 January 2014

........................................................
C Cruickshanks
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

Abilock Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2013
......... 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 April 2008).

Going concern

The financial statements have been prepared on a going concern basis. The company has net liabilities and is dependent upon the continuing support of its director, who has agreed to leave sufficient funds in the company to ensure its existance for the foreseeable future.

Turnover

Turnover represents amounts chargeable during the year in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% Reducing balance
Motor vehicles	25% Reducing balance
Office equipment	15% Reducing balance

Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Page 2

Abilock Limited
Notes to the Abbreviated Accounts for the Year Ended 30 September 2013
......... continued

2	Fixed assets

	Tangible assets £	Total £
Cost
At 1 October 2012	22,400	22,400
At 30 September 2013	22,400	22,400
Depreciation
At 1 October 2012	17,494	17,494
Charge for the year	1,209	1,209
At 30 September 2013	18,703	18,703
Net book value
At 30 September 2013	3,697	3,697
At 30 September 2012	4,906	4,906

3	Share capital

Allotted, called up and fully paid shares

	2013			2012
		No.	£		No.	£
Ordinary A shares of £1 each		50	50		50	50
Ordinary B shares of £1 each		50	50		50	50
		100	100		100	100

Page 3