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Registered number: 04504107
ABC FOOD SAFETY LIMITED
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
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CONTENTS
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Notes to the Abbreviated Accounts
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ABC FOOD SAFETY LIMITED
REGISTERED NUMBER: 04504107
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ABBREVIATED BALANCE SHEET
AS AT 31 AUGUST 2015
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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PROVISIONS FOR LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question 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 for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 August 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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ABBREVIATED BALANCE SHEET (continued)
AS AT 31 AUGUST 2015
The abbreviated accounts, which have been prepared in accordance with the provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
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Mrs S Bowles
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
1.ACCOUNTING POLICIES
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Basis of preparation of financial statements
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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After having paid particular attention to a period of at least one year from the date of approval of the financial statements, including budgets and projected cash flows, the directors consider that the company is able to continue in operational existence for the foreseeable future, and that any relevant disclosures have been made in the financial statements.
On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis.
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
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Tangible fixed assets and depreciation
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Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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Fixtures, fittings and equipment
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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Page 3
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
2.TANGIBLE FIXED ASSETS
Page 4
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NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 AUGUST 2015
3.CREDITORS:
Amounts falling due within one year
The bank loans and overdrafts are secured by a debenture dated 22 October 2004 held by HSBC Bank PLC, in respect of all monies due to or become due from the company to the chargee on any account whatsoever.
4.SHARE CAPITAL
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Allotted, called up and fully paid
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2 Ordinary shares of £1 each
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2 Ordinary non voting shares of £1 each
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5.DIRECTORS' BENEFITS: ADVANCES, CREDIT AND GUARANTEES
At the year end, Mr A Bowles and Mrs S Bowles, the directors, owed the company £62,667 (2014: £72,084). This amount is included in other debtors.
6.CONTROLLING PARTY
The company is jointly owned by Mr A Bowles and Mrs S Bowles, the directors, both of whom are directors and each own 50% of the issued share capital.
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