Abbey Electronic Controls Limited - Period Ending 2016-05-31

Abbey Electronic Controls Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 May 2016

Elver Consultancy Limited
1st Floor Offices
7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG

Abbey Electronic Controls Limited

Contents

Accountants' Report	1
Abbreviated Balance Sheet	2
Notes to the Abbreviated Accounts	3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Abbey Electronic Controls Limited
for the Year Ended 31 May 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Abbey Electronic Controls Limited for the year ended 31 May 2016 set out on pages XX from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Abbey Electronic Controls Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Abbey Electronic Controls Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey Electronic Controls Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Abbey Electronic Controls Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Abbey Electronic Controls Limited. You consider that Abbey Electronic Controls Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Abbey Electronic Controls Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Elver Consultancy Limited
1st Floor Offices
7 Gerard Street
Ashton-in-Makerfield
Wigan
WN4 9AG

26 February 2017

Page 1

Abbey Electronic Controls Limited

(Registration number: 02504063)
Abbreviated Balance Sheet as at 31 May 2016

	Note	2016 £	2015 £
Fixed assets
Tangible assets	2	5,843	6,425
Current assets
Stocks		5,971	4,478
Debtors		13,902	14,075
Cash at bank and in hand		29,359	22,594
		49,232	41,147
Creditors: Amounts falling due within one year		(29,782)	(32,516)
Net current assets		19,450	8,631
Net assets		25,293	15,056
Capital and reserves
Called up share capital	3	101	101
Profit and loss account		25,192	14,955
Shareholders funds		25,293	15,056

For the year ending 31 May 2016 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 directors acknowledge their 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 Board on 26 February 2017 and signed on its behalf by:

.........................................
Mr Peter Abiodun Bode
Company secretary and director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Abbey Electronic Controls Limited

Notes to the Abbreviated Accounts

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, 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
Freehold property	10% on cost
Computer Equipment	25% on reducing balance
Plant and machinery	25% on 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.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Fixed assets

	Tangible assets £	Total £
Cost
At 1 June 2015	34,776	34,776
Additions	1,043	1,043
At 31 May 2016	35,819	35,819
Depreciation
At 1 June 2015	28,351	28,351
Charge for the year	1,625	1,625
At 31 May 2016	29,976	29,976
Net book value
At 31 May 2016	5,843	5,843
At 31 May 2015	6,425	6,425

Page 3

Abbey Electronic Controls Limited

Notes to the Abbreviated Accounts

Share capital

Allotted, called up and fully paid shares

	2016		2015
	No.	£	No.	£
Ordinary A of £1 each	100	100	100	100
Ordinary B of £1 each	1	1	1	1
	101	101	101	101

Control

The directors are the controlling party by virtue of their controlling shareholding in the company.

Page 4