Company Registration No. 02689367 (England and Wales)
ABBACOVE LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2016
ABBACOVE LIMITED
CONTENTS
Page
Abbreviated balance sheet
1
Notes to the abbreviated accounts
2 - 3
ABBACOVE LIMITED
ABBREVIATED BALANCE SHEET
AS AT
31 MARCH 2016
31 March 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Tangible assets
2
5,104
6,971
Current assets
Stocks
3,250
2,825
Debtors
109,187
94,746
Cash at bank and in hand
619,217
611,029
731,654
708,600
Creditors: amounts falling due within one year
(118,432)
(124,561)
Net current assets
613,222
584,039
Total assets less current liabilities
618,326
591,010
Provisions for liabilities
(1,022)
(1,197)
617,304
589,813
Capital and reserves
Called up share capital
3
52
52
Profit and loss account
617,252
589,761
Shareholders' funds
617,304
589,813
For the financial year ended 31 March 2016 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 28 November 2016
Mr D.J. Lewis
Mrs J.L. Lewis
Director
Director
Company Registration No. 02689367
ABBACOVE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
- 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 January 2015).
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
25% reducing balance
Fixtures, fittings and equipment
25% reducing balance
Motor vehicles
25% reducing balance
2
Fixed assets
Tangible assets
£
Cost
At 1 April 2015
23,521
Additions
233
Disposals
(1,200)
At 31 March 2016
22,554
Depreciation
At 1 April 2015
16,550
On disposals
(789)
Charge for the year
1,689
At 31 March 2016
17,450
Net book value
At 31 March 2016
5,104
At 31 March 2015
6,971
ABBACOVE LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2016
- 3 -
3
Share capital
2016
2015
£
£
Allotted, called up and fully paid
50 Ordinary "A" shares of £1 each
50
50
2 Ordinary "B" shares of £1 each
2
2
52
52
The "A" and "B" shares rank equally in all respects except that the holders of the "B" shares shall not be entitled to receive notice of or to attend or vote at any general meeting of the company.