Abbey Plastics (South West) Limited - Abbreviated accounts 16.3

ABBEY PLASTICS (SOUTH WEST) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

P S Johnson-King

Mrs J Johnson-King

SECRETARY:

Mrs J Johnson-King

REGISTERED OFFICE:

22 Union Street

Newton Abbot

Devon

TQ12 2JX

REGISTERED NUMBER:

04907886 (England and Wales)

ACCOUNTANTS:

Barretts

Chartered Accountants &

Chartered Tax Advisers

22 Union Street

Newton Abbot

Devon

TQ12 2JS

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

2,128

2,838

2,128

2,838

CURRENT ASSETS

Stocks

3,000

Debtors

5,293

24,350

Investments

60,000

-

Cash at bank

34,513

30,472

102,806

57,822

CREDITORS

Amounts falling due within one year

88,390

46,850

NET CURRENT ASSETS

14,416

10,972

TOTAL ASSETS LESS CURRENT
LIABILITIES

16,544

13,810

PROVISIONS FOR LIABILITIES

236

336

NET ASSETS

16,308

13,474

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

16,307

13,473

SHAREHOLDERS' FUNDS

16,308

13,474

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 22 June 2017 and were signed on its behalf by:

P S Johnson-King - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, was amortised over its

estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

30,000

AMORTISATION

At 1 October 2015

and 30 September 2016

30,000

NET BOOK VALUE

At 30 September 2016

-

At 30 September 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

and 30 September 2016

39,608

DEPRECIATION

At 1 October 2015

36,770

Charge for year

710

At 30 September 2016

37,480

NET BOOK VALUE

At 30 September 2016

2,128

At 30 September 2015

2,838

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1