FY Private Limited Company Company accounts 2017-02-01 2017-02-01 false true false false false false false false false false false false true true 2015-10-01 true xbrli:pure xbrli:shares iso4217:GBP 06371598 2015-10-01 2016-09-30 06371598 2016-09-30 06371598 2015-09-30 06371598 2014-10-01 2015-09-30 06371598 2015-09-30 06371598 uk-gaap:FixturesFittings 2015-10-01 2016-09-30 06371598 uk-gaap:MotorVehicles 2015-10-01 2016-09-30 06371598 uk-gaap:NetGoodwill 2015-10-01 2016-09-30 06371598 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2015-10-01 2016-09-30 06371598 uk-bus:OrdinaryShareClass1 2015-10-01 2016-09-30 06371598 uk-bus:OrdinaryShareClass2 2015-10-01 2016-09-30 06371598 uk-bus:Director1 2015-10-01 2016-09-30 06371598 uk-gaap:AllSubsidiaries 2015-10-01 2016-09-30 06371598 uk-bus:EntityAccountantsOrAuditors uk-bus:PrincipalAgent 2016-09-30 06371598 uk-bus:OrdinaryShareClass1 2016-09-30 06371598 uk-bus:OrdinaryShareClass1 2015-09-30 06371598 uk-bus:OrdinaryShareClass2 2016-09-30 06371598 uk-bus:OrdinaryShareClass2 2015-09-30 06371598 uk-lang:English 2015-10-01 2016-09-30 06371598 uk-curr:PoundSterling 2015-10-01 2016-09-30
COMPANY REGISTRATION NUMBER 06371598
ABRAXAS CATERING EQUIPMENT LIMITED
ABBREVIATED ACCOUNTS
30 September 2016
ABRAXAS CATERING EQUIPMENT LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTORS OF ABRAXAS
CATERING EQUIPMENT LIMITED
YEAR ENDED 30TH SEPTEMBER 2016
As described on the balance sheet, the directors of the company are responsible for the preparation of the abbreviated accounts for the year ended 30th September 2016.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited abbreviated accounts in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.
W H AUDIT LIMITED Corporate Accountants
The White House Station Road West Hagley Stourbridge West Midlands DY9 ONU
16 December 2016
ABRAXAS CATERING EQUIPMENT LIMITED
ABBREVIATED BALANCE SHEET
30 September 2016
2016
2015
Note
£
£
£
FIXED ASSETS
2
Intangible assets
-
-
Tangible assets
23,772
15,287
---------
---------
23,772
15,287
---------
---------
CURRENT ASSETS
Stocks
5,000
6,500
Debtors
245,110
115,483
Cash at bank and in hand
11,999
51,022
----------
----------
262,109
173,005
CREDITORS: Amounts falling due within one year
135,081
135,792
----------
----------
NET CURRENT ASSETS
127,028
37,213
----------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
150,800
52,500
PROVISIONS FOR LIABILITIES
4,279
2,752
----------
---------
146,521
49,748
----------
---------
CAPITAL AND RESERVES
Called up equity share capital
3
1,100
1,100
Profit and loss account
145,421
48,648
----------
---------
SHAREHOLDERS' FUNDS
146,521
49,748
----------
---------
For the year ended 30th September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These abbreviated accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.
These abbreviated accounts were approved by the directors and authorised for issue on 16 December 2016 , and are signed on their behalf by:
Mr R. Woodward Director
Company Registration Number: 06371598
ABRAXAS CATERING EQUIPMENT LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
YEAR ENDED 30TH SEPTEMBER 2016
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill-Over 6 years
Fixed assets
All fixed assets are initially recorded at cost.
Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures & Equipment-15% reducing balance
Motor Vehicles-25% reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Operating lease agreements
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at 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.
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.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2. FIXED ASSETS
Intangible Assets
Tangible Assets
Total
£
£
£
COST
At 1st October 2015
200,000
26,010
226,010
Additions
15,241
15,241
----------
---------
----------
At 30th September 2016
200,000
41,251
241,251
----------
---------
----------
DEPRECIATION
At 1st October 2015
200,000
10,723
210,723
Charge for year
6,756
6,756
----------
---------
----------
At 30th September 2016
200,000
17,479
217,479
----------
---------
----------
NET BOOK VALUE
At 30th September 2016
23,772
23,772
----
---------
---------
At 30th September 2015
15,287
15,287
----
---------
---------
3. SHARE CAPITAL
Authorised share capital:
2016
2015
£
£
1,000 Ordinary shares of £ 1 each
1,000
1,000
1,000 Ordinary B shares of £ 1 each
1,000
1,000
-------
-------
2,000
2,000
-------
-------
Allotted, called up and fully paid:
2016
2015
No.
£
No.
£
Ordinary shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary B shares of £ 1 each
100
100
100
100
-------
-------
-------
-------
1,100
1,100
1,100
1,100
-------
-------
-------
-------