Abbreviated Company Accounts - ABS GROUP (UK) LIMITED

ABS GROUP (UK) LIMITED - Company Information

02521325 ABS GROUP (UK) LIMITED 2014-02-28 false 2013-03-01 2014-02-28 true 02521325 2013-03-01 2014-02-28 02521325 2014-02-28 02521325 2013-02-28 02521325 uk-gaap-cd-bus:Director1 2013-03-01 2014-02-28 02521325 uk-gaap-cd-bus:Director2 2013-03-01 2014-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-01 2014-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2014-02-28 uk-gaap-cd-bus:OrdinaryShareClass1 2013-02-28 iso4217:GBP shares

Registered Number 02521325

ABS GROUP (UK) LIMITED

Abbreviated Accounts

28 February 2014

ABS GROUP (UK) LIMITED Registered Number 02521325

Abbreviated Balance Sheet as at 28 February 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	7,078	24,718
Investments	3	100	100
		7,178	24,818
Current assets
Stocks		116,583	666,636
Debtors		269,020	166,392
Cash at bank and in hand		29,723	49,609
		415,326	882,637
Creditors: amounts falling due within one year		(371,334)	(857,132)
Net current assets (liabilities)		43,992	25,505
Total assets less current liabilities		51,170	50,323
Provisions for liabilities		-	(3,183)
Total net assets (liabilities)		51,170	47,140
Capital and reserves
Called up share capital	4	20,100	20,100
Other reserves		20,100	20,100
Profit and loss account		10,970	6,940
Shareholders' funds		51,170	47,140

For the year ending 28 February 2014 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 27 November 2014

And signed on their behalf by:
Mr T Croft, Director

ABS GROUP (UK) LIMITED Registered Number 02521325

Notes to the Abbreviated Accounts for the period ended 28 February 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery 10% & 25% straight line
Motor vehicles 25% straight line

Other accounting policies
Stocks
Work in progress is valued at the lower of cost and net realisable value.

Deferred taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.

Leasing and hire purchase commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Group accounts
The financial statements present information about the company as an individual undertaking and not in its group. The company and its subsidiary undertaking comprise of a small-sized group. The company has therefore taken advantage of the exemptions not to prepare group accounts.

Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

2Tangible fixed assets

	£
Cost
At 1 March 2013	167,851
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 28 February 2014	167,851
Depreciation
At 1 March 2013	143,133
Charge for the year	17,640
On disposals	-
At 28 February 2014	160,773
Net book values
At 28 February 2014	7,078
At 28 February 2013	24,718

3Fixed assets Investments
Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 March 2013 100

At 28 February 2014 100

The company holds 20% or more of the share capital of the following companies:

Company: Absolut Building Solutions Ltd
Shares held class: Ordinary
Percentage: 100%
Capital and reserves: (1,818)
Profit/ (loss) for the year: (531)

Non co-terminous subsidiary year end

The subsidiary company does not have a co-terminous year end with the parent. The year end of the subsidiary is 31 March each year. The results above reflect the year end 31 March 2013, being the latest accounting date before that of the company. On the grounds of materiality the year end has not been changed.

4Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
20,100 Ordinary shares of £1 each	20,100	20,100