Abacus Construction Limited - Limited company - abbreviated - 11.0.0

Abacus Construction Limited - Limited company - abbreviated - 11.0.0

ABACUS CONSTRUCTION LIMITED - Company Information

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REGISTERED NUMBER: 04993231 (England and Wales)


















































Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

for

Abacus Construction Limited

Abacus Construction Limited (Registered number: 04993231)






Contents of the Abbreviated Accounts
for the Year Ended 31 March 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

Abacus Construction Limited

Company Information
for the Year Ended 31 March 2014







DIRECTORS: K R Wendt
Mrs M S A Wendt





SECRETARY: Mrs M S A Wendt





REGISTERED OFFICE: 18 Newport Street
Tiverton
Devon
EX16 6NL





REGISTERED NUMBER: 04993231 (England and Wales)





ACCOUNTANTS: Paul Steele Limited
Chartered Accountants
18 Newport Street
Tiverton
Devon
EX16 6NL
1
Abacus Construction Limited (Registered number: 04993231)

Abbreviated Balance Sheet
31 March 2014

2014 2013
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 - 25,000
Tangible assets 3 540,898 476,436
Investment property 4 479,433 479,433
1,020,331 980,869

CURRENT ASSETS
Stocks 33,621 86,784
Debtors 233,823 153,437
Cash at bank and in hand 9,520 18,183
276,964 258,404
CREDITORS
Amounts falling due within one year 5 238,257 242,091
NET CURRENT ASSETS 38,707 16,313
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,059,038
997,182

CREDITORS
Amounts falling due after more than one
year
5
(708,907		 )
(689,982		 )

PROVISIONS FOR LIABILITIES (45,114 ) (45,950 )
NET ASSETS 305,017 261,250

CAPITAL AND RESERVES
Called up share capital 6 2 2
Profit and loss account 305,015 261,248
SHAREHOLDERS' FUNDS 305,017 261,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 August 2014 and were signed on its behalf by:



K R Wendt - Director


The notes form part of these abbreviated accounts

2
Abacus Construction Limited (Registered number: 04993231)

Notes to the Abbreviated Accounts
for the Year Ended 31 March 2014

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 April 2008).

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 2004, is being amortised evenly over its estimated useful life of ten 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 - 20% on reducing balance, 15% on reducing balance and 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in
market value is transferred to a revaluation reserve.

Stocks
Stocks and work in progress 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.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the
period of the lease.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2013
and 31 March 2014 250,000
AMORTISATION
At 1 April 2013 225,000
Amortisation for year 25,000
At 31 March 2014 250,000
NET BOOK VALUE

At 31 March 2014 -
At 31 March 2013 25,000

3
Abacus Construction Limited (Registered number: 04993231)

Notes to the Abbreviated Accounts - continued
for the Year Ended 31 March 2014

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 April 2013 752,000
Additions 117,601
At 31 March 2014 869,601
DEPRECIATION
At 1 April 2013 275,564
Charge for year 53,139
At 31 March 2014 328,703
NET BOOK VALUE
At 31 March 2014 540,898
At 31 March 2013 476,436

4. INVESTMENT PROPERTY
Total
£   
COST
At 1 April 2013
and 31 March 2014 479,433
NET BOOK VALUE
At 31 March 2014 479,433
At 31 March 2013 479,433

5. CREDITORS

Creditors include an amount of £ 612,213 (2013 - £ 629,746 ) for which security has been given.

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

2014 2013
£    £   
Repayable by instalments 486,712 515,207

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2014 2013
value: £    £   
2 Ordinary 1 2 2

4