A B Castle Limited - Period Ending 2015-12-31

Registration number: 04410339

A B Castle Limited

Unaudited Abbreviated Accounts
 
for the Year Ended 31 December 2015

Cairns Accountants (Abacus 369 Ltd)
102 Snape Hill Lane
Dronfield
Derbyshire
S18 2GP

A B Castle Limited

Contents

Abbreviated Balance Sheet	1 to 2
Notes to the Abbreviated Accounts	3 to 4

A B Castle Limited

(Registration number: 04410339)
Abbreviated Balance Sheet as at 31 December 2015

	Note	2015  £	2014  £
Fixed assets
Intangible assets	2	41,255	46,061
Tangible assets	2	19,384	21,593
		60,639	67,654
Current assets
Debtors		22,600	16,178
Cash at bank and in hand		204	1,962
		22,804	18,140
Creditors: Amounts falling due within one year		(72,984)	(46,522)
Net current liabilities		(50,180)	(28,382)
Total assets less current liabilities		10,459	39,272
Creditors: Amounts falling due after more than one year		-	(6,914)
Provisions for liabilities		(3,442)	(3,449)
Accruals and deferred income		(1,300)	(1,900)
Net assets		5,717	27,009
Capital and reserves
Called up share capital	3	12	12
Profit and loss account		5,705	26,997
Shareholders funds		5,717	27,009

For the year ending 31 December 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 9 September 2016 and signed on its behalf by:

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 1

A B Castle Limited

(Registration number: 04410339)
Abbreviated Balance Sheet as at 31 December 2015

.........................................
Mr Oneil Eric McKoy
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

A B Castle Limited

Notes to the Abbreviated Accounts

1

Accounting policies

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Revenue recognition

Revenue is recognised to the extent that the company obtains the right to consideration in exchange for its performance. Revenue is measured at the fair value of the consideration received, excluding discounts, rebates, VAT and other sales tax or duty.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Intangible assets

Intangible assets are stated in the balance sheet at cost less accumulated amortisation and impairment. They are amortised on a straight line basis over their estimated useful lives.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Evenly over 20 years

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
	25% reducing balance

Provisions

A provision is recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Page 3

A B Castle Limited

Notes to the Abbreviated Accounts

2

Fixed assets

	Intangible assets £	Tangible assets £	Total £
Cost
At 1 January 2015	96,124	96,108	192,232
Additions	-	3,289	3,289
At 31 December 2015	96,124	99,397	195,521
Depreciation
At 1 January 2015	50,063	74,515	124,578
Charge for the year	4,806	5,498	10,304
At 31 December 2015	54,869	80,013	134,882
Net book value
At 31 December 2015	41,255	19,384	60,639
At 31 December 2014	46,061	21,593	67,654

3

Share capital

Allotted, called up and fully paid shares

	2015		2014
	No.	£	No.	£
Ordinary shares of £1 each	10	10	10	10
A Ordinary shares of £1 each	2	2	2	2
	12	12	12	12

Page 4