ABM Electrical Wholesale Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 04419229 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

1ST NOVEMBER 2013 TO 28TH FEBRUARY 2015

FOR

ABM ELECTRICAL WHOLESALE LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

DIRECTORS:

Mr Leslie Ashworth

Mr Mark Leslie Ashworth

SECRETARY:

Mrs Lynda Ashworth

REGISTERED OFFICE:

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

REGISTERED NUMBER:

04419229 (England and Wales)

ACCOUNTANTS:

Allens Accountants Limited

Chartered Accountants

123 Wellington Road South

Stockport

Cheshire

SK1 3TH

FIXED ASSETS

Tangible assets

2

58,551

42,226

CURRENT ASSETS

Stocks

314,463

307,501

Debtors

1,049,745

1,035,703

Cash at bank and in hand

12,817

30,408

1,377,025

1,373,612

CREDITORS

Amounts falling due within one year

3

669,296

663,717

NET CURRENT ASSETS

707,729

709,895

TOTAL ASSETS LESS CURRENT LIABILITIES

766,280

752,121

CREDITORS

Amounts falling due after more than one year

3

(9,704

)

(8,244

)

PROVISIONS FOR LIABILITIES

(1,831

)

-

NET ASSETS

754,745

743,877

CAPITAL AND RESERVES

Called up share capital

4

9,000

9,000

Profit and loss account

745,745

734,877

SHAREHOLDERS' FUNDS

754,745

743,877

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28th February 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 28th February 2015 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 19th October 2015 and were signed on its behalf by:

Mr Leslie Ashworth - 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 April 2008).

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

Debt factoring

The company factors its sales invoices and due to the nature of the factoring contract shows its gross debts as a

current asset and its liability to the factoring agent as a current liability. Expenses and interest charged by the

factoring agent are charged to the profit and loss account.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st November 2013

177,234

Additions

45,392

Disposals

(29,681

)

At 28th February 2015

192,945

DEPRECIATION

At 1st November 2013

135,008

Charge for period

24,417

Eliminated on disposal

(25,031

)

At 28th February 2015

134,394

NET BOOK VALUE

At 28th February 2015

58,551

At 31st October 2013

42,226

3.

CREDITORS

Creditors include an amount of £ 243,459 (2013 - £ 324,432 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2013

value:

£

£

9,000

Ordinary

£1

9,000

9,000

5.	ULTIMATE PARENT COMPANY

The company's ultimate parent company is ABM Electrical Holdings Limited.