Abbeville Instrument Control Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00966288 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 30 November 2015

for

Abbeville Instrument Control Limited

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

G Doggett

K Doggett

Mrs C A Doggett

M J Doggett

SECRETARY:

G Doggett

REGISTERED OFFICE:

The Mills

Canal Street

Derby

DE1 2RJ

REGISTERED NUMBER:

00966288 (England and Wales)

ACCOUNTANTS:

Bates Weston LLP

Chartered Accountants

The Mills

Canal Street

Derby

DE1 2RJ

BANKERS:

Lloyds TSB Bank plc

43 Irongate

Derby

DE1 3FT

FIXED ASSETS

Tangible assets

2

212,469

217,663

CURRENT ASSETS

Stocks

53,425

52,130

Debtors

254,694

377,257

Cash at bank and in hand

68

61

308,187

429,448

CREDITORS

Amounts falling due within one year

3

219,789

353,728

NET CURRENT ASSETS

88,398

75,720

TOTAL ASSETS LESS CURRENT
LIABILITIES

300,867

293,383

CREDITORS

Amounts falling due after more than one
year

3

95,940

102,242

NET ASSETS

204,927

191,141

CAPITAL AND RESERVES

Called up share capital

4

10,100

Revaluation reserve

173,755

177,540

Profit and loss account

21,072

3,501

SHAREHOLDERS' FUNDS

204,927

191,141

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 2 June 2016 and were signed on its
behalf by:

M J Doggett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales, excluding value added tax including, where applicable,

relevant costs and overheads plus attributable profit to date recoverable on contracts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property

-

2% on revaluation

Plant and machinery

-

15% on reducing balance

Office equipment

-

20% on cost

Motor vehicles

-

20% 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.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

In the case of work in progress and finished goods held for stock, a proportion of relevant overheads is

included. Contractual work in progress in included in turnover.

Deferred tax

Provision is made at current rates for taxation deferred in respect of all material timing differences.

A deferred tax asset is recognised only when it is more likely than not that there will be suitable taxable

profits from which the future reversal of underlying timing differences and losses can be deducted.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions paid in the year are

charged in the profit and loss account.

Debt factoring

The gross asset equivalent of the gross debts factored is included within trade debtors with the

corresponding amount relating to proceeds received from the factor included within creditors. The

interest element and other factors charges are recognised within the profit and loss account as they

accrue.

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.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 December 2014

388,428

Additions

2,576

At 30 November 2015

391,004

DEPRECIATION

At 1 December 2014

170,765

Charge for year

7,770

At 30 November 2015

178,535

NET BOOK VALUE

At 30 November 2015

212,469

At 30 November 2014

217,663

3.

CREDITORS

Creditors include an amount of £ 121,540 (2014 - £ 149,383 ) for which security has been given.

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

2015

2014

£

Repayable by instalments

48,369

57,606

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2015

2014

value:

£

10,000

Ordinary A

£1

10,000

100

Ordinary B

£1

100

10,100

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year net advances of £507, £181 and £56 were made to G Doggett, K Doggett and Mrs C A

Doggett respectively. These advances were interest free and repayable on demand.