REGISTERED NUMBER: 00526819 (England and Wales)

Abbreviated Unaudited Accounts for the Year Ended 31 May 2016

for

Abbott & Smith Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

T Abbott

D Abbott

D Simm

Mrs K Kellett

SECRETARY:

D Simm

REGISTERED OFFICE:

82-84 Ellesmere Road

Pemberton

Wigan

Lancashire

WN5 9LD

REGISTERED NUMBER:

00526819 (England and Wales)

ACCOUNTANTS:

Ashford Rainham Limited

10-12 Upper Dicconson St

Wigan

Lancashire

WN1 2AD

FIXED ASSETS

Tangible assets

2

220,112

222,296

CURRENT ASSETS

Stocks

115,773

118,244

Debtors

1,727

4,546

Cash at bank

379,280

352,431

496,780

475,221

CREDITORS

Amounts falling due within one year

73,804

67,746

NET CURRENT ASSETS

422,976

407,475

TOTAL ASSETS LESS CURRENT LIABILITIES

643,088

629,771

CAPITAL AND RESERVES

Called up share capital

3

8,404

8,404

Profit and loss account

634,684

621,367

SHAREHOLDERS' FUNDS

643,088

629,771

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 17 February 2017 and were signed on its behalf by:

T Abbott - Director

D Simm - Director

1.	ACCOUNTING POLICIES

Accounting convention

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

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on reducing balance

Improvements to property

-

2% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on 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 and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

and 31 May 2016

380,293

DEPRECIATION

At 1 June 2015

157,997

Charge for year

2,184

At 31 May 2016

160,181

NET BOOK VALUE

At 31 May 2016

220,112

At 31 May 2015

222,296

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

8,404

Ordinary

£1

8,404

8,404