Abbacor Limited - Abbreviated accounts

04809294

England and Wales

Abbacor Limited

Abbreviated Accounts

30 June 2015

Abbacor Limited
Abbreviated unaudited accounts
as at 30 June 2015
Contents

Abbreviated unaudited balance sheet
Notes to the abbreviated unaudited accounts

Directors
C R Rutland
S A Rutland

Secretary
Incorporated Company Secretaries Limited

Registered office
Headmaster's Halls
The Square
Pennington

Trading address
38 Lyndhurst Road
Ashurst

Independent Accountants
Lentune Tax Accountants
Headmaster's Halls
The Square
Pennington
Lymington

Registered number
04809294

Incorporated
England and Wales: 24 June 2003

Statement of directors' responsibilities for the preparation of the accounts
Company law requires the directors to prepare accounts for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year. In preparing those accounts, the directors are required to: • select suitable accounting policies and then apply them consistently • make judgements and estimates that are reasonable and prudent • follow applicable accounting standards, subject to any material departures disclosed and explained in the accounts •prepare the accounts on the going concern basis unless it is inappropriate to presume that the company will continue in business The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Abbacor Limited
Abbreviated Balance Sheet
as at 30 June 2015

Notes			2015			2014
£				£
Fixed assets
Tangible assets	3		807			4,573

Current assets
Stocks		3,343			16,725
Debtors		73,919			23,249
Cash at bank and in hand		27,510			10,109
		104,772			50,083

Creditors: amounts falling due within one year		(17,777)			(21,856)

Net current assets			86,995			28,227

Net assets			87,802			32,800

Capital and reserves
Called up share capital	4		120			100
Shareholders' loans			30,253			(4,967)
Profit and loss account			57,429			37,667

Shareholders' funds			87,802			32,800


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 members have 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.
C R Rutland			S A Rutland
Director			Director
Approved by the board on 23 March 2016

Abbacor Limited
Notes to the Abbreviated Accounts
for the year ended 30 June 2015

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 January 2015).

	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.

	Equipment			25% reducing balance

	Provisions
	Provisions are made on the basis of the directors' expectation as to the likely outflow of future economic benefits.

	Equity funding
	Loans to the company which are repayable on notice of at least 1 year and are regarded by the directors as a source of general business finance are treated as equity funding in the accounts. Any interest payable thereon is charged to Profit & Loss Account on an accruing basis

	Taxation
	In the opinion of the directors the company is a close company as defined by U.K. tax legislation.

	Stocks
	Stock and work in progress is valued at the lower of cost and net realisable value, after taking in to account all projected costs to realisation .

	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.

	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	Intangible fixed assets					£

	Cost
	At 1 July 2014					50,000
	Disposals					(50,000)
	At 30 June 2015					-

	Amortisation
	At 1 July 2014					50,000
	On disposals					(50,000)
	At 30 June 2015					-

	Net book value
	At 30 June 2015					-


3	Tangible fixed assets					£

	Cost
	At 1 July 2014					48,970
	Additions					861
	Disposals					(48,970)
	At 30 June 2015					861

	Depreciation
	At 1 July 2014					44,397
	Charge for the year					54
	On disposals					(44,397)
	At 30 June 2015					54

	Net book value
	At 30 June 2015					807
	At 30 June 2014					4,573


4	Share capital	Nominal		2015		2015		2014
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		100		100		100
	A Ordinary shares	£1 each		10		10		-
	B Ordinary shares	£1 each		10		10		-
						120		100

Nominal			Number		Amount
value			£
	Shares issued during the period:
	A Ordinary shares	£1 each		10		10
	B Ordinary shares	£1 each		10		10
						20

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