ABM Electrical Wholesale Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 04419229 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 29TH FEBRUARY 2016

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

38,809

58,551

CURRENT ASSETS

Stocks

333,765

314,463

Debtors

932,355

1,049,745

Cash at bank and in hand

38,807

12,817

1,304,927

1,377,025

CREDITORS

Amounts falling due within one year

3

551,679

669,296

NET CURRENT ASSETS

753,248

707,729

TOTAL ASSETS LESS CURRENT
LIABILITIES

792,057

766,280

CREDITORS

Amounts falling due after more than one
year

3

(2,945

)

(9,704

)

PROVISIONS FOR LIABILITIES

(1,109

)

(1,831

)

NET ASSETS

788,003

754,745

CAPITAL AND RESERVES

Called up share capital

4

9,000

Profit and loss account

779,003

745,745

SHAREHOLDERS' FUNDS

788,003

754,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2016 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 22nd November 2016 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 January 2015).

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 March 2015

192,945

Additions

2,321

Disposals

(43,434

)

At 29th February 2016

151,832

DEPRECIATION

At 1st March 2015

134,394

Charge for year

12,998

Eliminated on disposal

(34,369

)

At 29th February 2016

113,023

NET BOOK VALUE

At 29th February 2016

38,809

At 28th February 2015

58,551

3.

CREDITORS

Creditors include an amount of £ 248,172 (2015 - £ 243,459 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

9,000

Ordinary

£1

9,000

5.	ULTIMATE PARENT COMPANY

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