Albion Supplies Ltd - Abbreviated accounts

ALBION SUPPLIES LTD - Company Information

Registered number

05994131

Albion Supplies Ltd

Abbreviated Accounts

30 November 2014

Albion Supplies Ltd
Registered number:		05994131
Abbreviated Balance Sheet
as at 30 November 2014

Notes			2014			2013
£				£
Fixed assets
Tangible assets	2		16,466			18,902

Current assets
Stocks		1,000			1,000
Debtors		147,988			131,996
		148,988			132,996

Creditors: amounts falling due within one year		(165,182)			(147,021)

Net current liabilities			(16,194)			(14,025)

Total assets less current liabilities			272			4,877

Creditors: amounts falling due after more than one year			-			(760)



Net assets			272			4,117

Capital and reserves
Called up share capital	3		100			100
Profit and loss account			172			4,017

Shareholder's funds			272			4,117

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.



S G Bendle
Director
Approved by the board on 23 July 2015

Albion Supplies Ltd
Notes to the Abbreviated Accounts
for the year ended 30 November 2014

1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective 4/1/2008).

	Turnover
	Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

	Depreciation
	Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

	Plant and machinery			10% on reducing balance
	Motor vehicles			25% on reducing balance

	Stocks
	Stock is valued at the lower of cost and net realisable value.

	Deferred taxation
	Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

	Leasing and hire purchase commitments
	Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.


2	Tangible fixed assets					£

	Cost
	At 1 December 2013					36,744
	Additions					308
	At 30 November 2014					37,052

	Depreciation
	At 1 December 2013					17,842
	Charge for the year					2,744
	At 30 November 2014					20,586

	Net book value
	At 30 November 2014					16,466
	At 30 November 2013					18,902


3	Share capital	Nominal		2014		2014		2013
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100