Abbey Commercial Services (Midlands) Ltd

Registered number

05112212

Filleted Accounts

30 April 2017

Abbey Commercial Services (Midlands) Ltd
Registered number:		05112212
Balance Sheet
as at 30 April 2017

Notes			2017			2016
£				£
Fixed assets
Intangible assets	2		22,750			26,000
Tangible assets	3		690			1,360
			23,440			27,360

Current assets
Debtors	4	8,239			11,092
Cash at bank and in hand		15,905			9,929
		24,144			21,021

Creditors: amounts falling due within one year	5	(25,763)			(16,920)

Net current (liabilities)/assets			(1,619)			4,101

Net assets			21,821			31,461

Capital and reserves
Called up share capital			100			100
Profit and loss account			21,721			31,361

Shareholders' funds			21,821			31,461

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.




Mrs A Allen
Director
Approved by the board on 13 January 2018

Abbey Commercial Services (Midlands) Ltd
Notes to the Accounts
for the year ended 30 April 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.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	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:

	Freehold buildings	over 50 years
	Leasehold land and buildings	over the lease term
	Plant and machinery	over 5 years
	Fixtures, fittings, tools and equipment	over 5 years

	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	Intangible fixed assets				£
	Goodwill:

	Cost
	At 1 May 2016				65,000
	At 30 April 2017				65,000

	Amortisation
	At 1 May 2016				39,000
	Provided during the year				3,250
	At 30 April 2017				42,250

	Net book value
	At 30 April 2017				22,750
	At 30 April 2016				26,000

	Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.


3	Tangible fixed assets
					Plant and machinery etc
£
	Cost
	At 1 May 2016				7,998
	At 30 April 2017				7,998

	Depreciation
	At 1 May 2016				6,638
	Charge for the year				670
	At 30 April 2017				7,308

	Net book value
	At 30 April 2017				690
	At 30 April 2016				1,360


4	Debtors		2017		2016
£				£

	Trade debtors		8,239		11,092


5	Creditors: amounts falling due within one year		2017		2016
£				£

	Bank loans and overdrafts		-		278
	Trade creditors		1,154		422
	Taxation and social security costs		3,215		2,969
	Other creditors		21,394		13,251
			25,763		16,920


6	Other information

	Abbey Commercial Services (Midlands) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	11a Faraday Court
	Centrum 100
	Burton on Trent
	DE14 2WX