Company Registration No. 01632106 (England and Wales)
ABBEYGREY LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2015
ABBEYGREY LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBEYGREY LIMITED
ABBREVIATED BALANCE SHEET
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Tangible assets
2
22,164
14,039
Current assets
Stocks
37,700
40,000
Debtors
28,886
110,024
66,586
150,024
Creditors: amounts falling due within one year
(128,478)
(184,473)
Net current liabilities
(61,892)
(34,449)
Total assets less current liabilities
(39,728)
(20,410)
Creditors: amounts falling due after more than one year
(12,871)
-
(52,599)
(20,410)
Capital and reserves
Called up share capital
3
100
100
Profit and loss account
(52,699)
(20,510)
Shareholders' funds
(52,599)
(20,410)
For the financial year ended 31 May 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 26 February 2016
Mr J I Payne
Director
Company Registration No. 01632106
ABBEYGREY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MAY 2015
- 2 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The company continues to be a going concern, as it has the continued support of the directors.
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Plant and machinery
15% on reducing balance
Office equipment
10% on reducing balance
Motor vehicles
25% on reducing balance
1.5
Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value.
2
Fixed assets
Tangible assets
£
Cost
At 1 June 2014
71,013
Additions
16,380
Disposals
(25,750)
At 31 May 2015
61,643
Depreciation
At 1 June 2014
56,974
On disposals
(24,254)
Charge for the year
6,759
At 31 May 2015
39,479
Net book value
At 31 May 2015
22,164
At 31 May 2014
14,039
ABBEYGREY LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2015
- 3 -
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
100 Ordinary of £1 each
100
100