Abodebed Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 07599135 (England and Wales)

ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2016

FOR

ABODEBED LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Fieldman

Mrs L Fieldman

REGISTERED OFFICE:

10 London Mews

London

W2 1HY

REGISTERED NUMBER:

07599135 (England and Wales)

ACCOUNTANTS:

Stein Richards

Chartered Accountants

10 London Mews

Paddington

London

W2 1HY

FIXED ASSETS

Intangible assets

2

1

11,868

Tangible assets

3

245,495

1,550

245,496

13,418

CURRENT ASSETS

Debtors

97,040

115,917

Cash at bank

7,525

41,220

104,565

157,137

CREDITORS

Amounts falling due within one year

4

122,542

93,760

NET CURRENT (LIABILITIES)/ASSETS

(17,977

)

63,377

TOTAL ASSETS LESS CURRENT LIABILITIES

227,519

76,795

CREDITORS

Amounts falling due after more than one year

4

171,000

-

NET ASSETS

56,519

76,795

CAPITAL AND RESERVES

Called up share capital

5

100

100

Profit and loss account

56,419

76,695

SHAREHOLDERS' FUNDS

56,519

76,795

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 30 January 2017 and were signed on its behalf by:

M Fieldman - 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

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

Long leasehold

-

in accordance with the property

Fixtures and fittings

-

25% reducing balance

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

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.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

and 30 April 2016

59,337

AMORTISATION

At 1 May 2015

47,469

Amortisation for year

11,867

At 30 April 2016

59,336

NET BOOK VALUE

At 30 April 2016

1

At 30 April 2015

11,868

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 May 2015

4,900

Additions

244,332

At 30 April 2016

249,232

DEPRECIATION

At 1 May 2015

3,350

Charge for year

387

At 30 April 2016

3,737

NET BOOK VALUE

At 30 April 2016

245,495

At 30 April 2015

1,550

4.

CREDITORS

Creditors include an amount of £ 180,000 for which security has been given.

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

30.4.16

30.4.15

£

£

Repayable by instalments

135,000

-

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.16

30.4.15

value:

£

£

100

Ordinary

£1

100

100

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2016 and

30 April 2015:

30.4.16

30.4.15

£

£

Mrs L Fieldman and M Fieldman

Balance outstanding at start of year

70,210

-

Amounts advanced

-

70,210

Amounts repaid

(70,210

)

-

Balance outstanding at end of year

-

70,210