Abbeville Instrument Control Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00966288 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2014

for

Abbeville Instrument Control Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Doggett

K Doggett

Mrs C A Doggett

M J Doggett

SECRETARY:

G Doggett

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

REGISTERED NUMBER:

00966288 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

BANKERS:

Lloyds TSB Bank plc

43 Irongate

Derby

DE1 3FT

FIXED ASSETS

Tangible assets

2

217,663

224,854

CURRENT ASSETS

Stocks

52,130

52,514

Debtors

377,257

301,065

Cash at bank and in hand

61

61

429,448

353,640

CREDITORS

Amounts falling due within one year

3

353,728

294,027

NET CURRENT ASSETS

75,720

59,613

TOTAL ASSETS LESS CURRENT LIABILITIES

293,383

284,467

CREDITORS

Amounts falling due after more than one year

3

102,242

108,175

NET ASSETS

191,141

176,292

CAPITAL AND RESERVES

Called up share capital

4

10,100

10,100

Revaluation reserve

177,540

181,325

Profit and loss account

3,501

(15,133

)

SHAREHOLDERS' FUNDS

191,141

176,292

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2014 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 21 April 2015 and were signed on its behalf by:

M J Doggett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales, excluding value added tax including, where applicable,

relevant costs and overheads plus attributable profit to date recoverable on contracts.

Tangible fixed assets

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

Leasehold property

-

2% on revaluation

Plant and machinery

-

15% on reducing balance

Office equipment

-

20% on cost

Motor vehicles

-

20% 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.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

In the case of work in progress and finished goods held for stock, a proportion of relevant overheads is

included. Contractual work in progress in included in turnover.

Deferred tax

Provision is made at current rates for taxation deferred in respect of all material timing differences.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable

profits from which the future reversal of underlying timing differences and losses can be deducted.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions paid in the year are

charged in the profit and loss account.

Debt factoring

The gross asset equivalent of the gross debts factored is included within trade debtors with the

corresponding amount relating to proceeds received from the factor included within creditors. The

interest element and other factors charges are recognised within the profit and loss account as they

accrue.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 December 2013

387,520

Additions

908

At 30 November 2014

388,428

DEPRECIATION

At 1 December 2013

162,666

Charge for year

8,099

At 30 November 2014

170,765

NET BOOK VALUE

At 30 November 2014

217,663

At 30 November 2013

224,854

3.

CREDITORS

Creditors include an amount of £ 149,383 (2013 - £ 145,362 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

57,606

66,379

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

10,000

Ordinary A

£1

10,000

10,000

100

Ordinary B

£1

100

100

10,100

10,100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year net advances of £89 were made to G Doggett. These advances were interest free and

repayable on demand.