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Abbey Products Thermoforming Toolmakers Ltd
For the year ended 30 September 2015
Unaudited Abbreviated Report and Financial Statements
England and Wales
Registered Number: 03401572
2
Contents Page
Abbey Products Thermoforming Toolmakers Ltd
For the year ended 30 September 2015
1
Accountants' Report
2
Balance Sheet
3 to 4
Notes to the Abbreviated Financial Statements
3
Abbey Products Thermoforming Toolmakers Ltd
Accountants' Report
For the year ended 30 September 2015
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 30
September 2015 and 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 financial statements in order to assist you to fulfil
your statutory responsibilities, from the accounting records and information and explanations supplied to us.
Castle Accounting (Leicester) Ltd
228a Aylestone Lane
Wigston
Leicester
LE18 1BD
21 June 2016
Dated:
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4
Abbreviated Balance Sheet
Abbey Products Thermoforming Toolmakers Ltd
As at 30 September 2015
03401572
Registered Number :
£
£
2015
Notes
2014
Fixed assets
Tangible assets
2
59,995
74,662
59,995
74,662
Current assets
Stocks
55,000
55,000
Debtors
86,612
99,780
Cash at bank and in hand
7,164
29,316
161,944
170,928
Creditors: amounts falling due within one year
(201,813)
(232,202)
(30,885)
(70,258)
Net current liabilities
Total assets less current liabilities
(10,263)
43,777
Creditors: amounts falling due after more than one year
3
(32,800)
(21,155)
(10,034)
(10,432)
Provisions for liabilities
(41,452)
Net assets/liabilities
545
Capital and reserves
Called up share capital
100
100
Profit and loss account
(41,552)
445
(41,452)
545
Shareholders funds
For the year ended 30 September 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities: 1) The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;
2) 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.
Date approved by the board: 21 June 2016
Susan Mary Hastings Director
Signed on behalf of the board of directors
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5
Notes to the Abbreviated Financial Statements
Abbey Products Thermoforming Toolmakers Ltd
For the year ended 30 September 2015
1 Accounting Policies
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of the rental payment is charged to the profit and loss account on the sum of digits basis.
Deferred taxation
Deferred taxation arises when items are charged or credited in accounts in different periods to those in which they are included in the company's tax computations.Deferred tax is provided in full on timing differences that result in an obligation to pay more (or less) tax at a future date. Deferred tax is calculated at the average rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The resulting deferred tax asset or liability is not discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the
shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2% Straight line
Plant and Machinery
25% Reducing balance
Motor Vehicles
25% Reducing balance
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of
ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over
the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items.
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6
Notes to the Abbreviated Financial Statements
Abbey Products Thermoforming Toolmakers Ltd
For the year ended 30 September 2015
Factored debts
The company includes factored debts within trade debtors since most of the risks and rewards of ownership of the factored
debts have not passed to the factors. A corresponding liability is included in liabilities in respect of the proceeds received from
the factor.
2 Tangible fixed assets
Tangible fixed
assets
Cost or valuation
£
248,302
At 01 October 2014
2,178
Additions
At 30 September 2015
250,480
Depreciation
173,640
At 01 October 2014
16,845
Charge for year
190,485
At 30 September 2015
Net book values
At 30 September 2015
59,995
74,662
At 30 September 2014
2014
2015
3 Creditors due after more than one year
£
£
21,155
29,403
Bank loans and overdraft
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