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Registration number: 04636781

Abbey Electrics Telephone & Data Cabling Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

 

Abbey Electrics Telephone & Data Cabling Limited
Contents

Company Information

1

Abbreviated Balance Sheet

2 to 3

Notes to the Abbreviated Accounts

4 to 6

 

Abbey Electrics Telephone & Data Cabling Limited
Company Information

Directors

Mr P R Izon

Mrs N C Izon
 

Company secretary

Mrs N C Izon

Registered office

Tywyn
Pontrhydfendigaid
Ystrad Meurig
Ceredigion
SY25 6ER

Accountants

PJE Chartered Accountants
23, College Street
Lampeter
Ceredigion
SA48 7DY

 

Abbey Electrics Telephone & Data Cabling Limited
(Registration number: 04636781)
Abbreviated Balance Sheet at 31 March 2015

   

Note

   

2015
£

   

2014
£

 

Fixed assets

 

             

Intangible fixed assets

 

   

20,000

   

22,500

 

Tangible fixed assets

 

   

22,310

   

18,607

 
   

2

   

42,310

   

41,107

 

Current assets

 

             

Stocks

 

   

18,961

   

13,994

 

Debtors

 

   

36,674

   

46,019

 

Cash at bank and in hand

 

   

8,969

   

16,002

 
   

   

64,604

   

76,015

 

Creditors: Amounts falling due within one year

 

   

(73,251)

   

(77,751)

 

Net current liabilities

 

   

(8,647)

   

(1,736)

 

Total assets less current liabilities

 

   

33,663

   

39,371

 

Creditors: Amounts falling due after more than one year

 

   

(10,869)

   

(6,659)

 

Provisions for liabilities

 

   

(3,435)

   

(2,302)

 

Net assets

 

   

19,359

   

30,410

 

Capital and reserves

 

             

Called up share capital

 

3

   

122

   

122

 

Profit and loss account

 

   

19,237

   

30,288

 

Shareholders' funds

 

   

19,359

   

30,410

 

For the year ending 31 March 2015 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 7 November 2015 and signed on its behalf by:

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 2

 

Abbey Electrics Telephone & Data Cabling Limited
(Registration number: 04636781)
Abbreviated Balance Sheet at 31 March 2015
......... continued

.........................................
Mr P R Izon
Director

.........................................
Mrs N C Izon
Director

The notes on pages 4 to 6 form an integral part of these financial statements.
Page 3

 

Abbey Electrics Telephone & Data Cabling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... 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 company ceased trading on 31 May 2015. It is the Directors' intention to make an application to Companies House for the company to be struck off.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

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

Asset class

Amortisation method and rate

Goodwill

straight line over 20 years

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

Stock and work in progress

Stock and work in progress are 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. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

 

Abbey Electrics Telephone & Data Cabling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

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.

Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

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.

2

Fixed assets

   

Intangible assets
£

   

Tangible assets
£

   

Total
£

 

Cost

                 

At 1 April 2014

 

50,000

   

47,871

   

97,871

 

Additions

 

-

   

11,640

   

11,640

 

At 31 March 2015

 

50,000

   

59,511

   

109,511

 

Depreciation

                 

At 1 April 2014

 

27,500

   

29,264

   

56,764

 

Charge for the year

 

2,500

   

7,937

   

10,437

 

At 31 March 2015

 

30,000

   

37,201

   

67,201

 

Net book value

                 

At 31 March 2015

 

20,000

   

22,310

   

42,310

 

At 31 March 2014

 

22,500

   

18,607

   

41,107

 
 

Abbey Electrics Telephone & Data Cabling Limited
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

3

Share capital

Allotted, called up and fully paid shares

 

2015

2014

   

No.

   

£

   

No.

   

£

 

ordinary shares of £1 each

 

120

   

120

   

120

   

120

 

preference shares of £1 each

 

2

   

2

   

2

   

2

 
   

122

   

122

   

122

   

122

 

4

Related party transactions

At 31 March 2015 the balance owed to the directors was £43,011. Dividends voted in the year to shareholders who are directors were:
Mr P R Izon £7,566
Mrs N C Izon £7,566

5

Control

The largest single ordinary shareholding in the company is 33% and therefore there is no ultimate controlling party.