ABM Leasing Limited - Limited company accounts 11.6
ABM Leasing Limited - Limited company accounts 11.6
| REGISTERED NUMBER: |
| ABM LEASING LIMITED |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| Page |
| Company Information | 1 |
| Report of the Directors | 2 |
| Profit and Loss Account | 3 |
| Balance Sheet | 4 |
| Notes to the Financial Statements | 6 |
| ABM LEASING LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| REPORT OF THE DIRECTORS |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| The directors present their report with the financial statements of the company for the year ended |
| 31 August 2014. |
| PRINCIPAL ACTIVITY |
| The principal activity of the company in the year under review was that of advisors to commodity brokers and |
| leasing of vehicles & equipment. |
| DIRECTORS |
| The directors shown below have held office during the whole of the period from 1 September 2013 to the date |
| of this report. |
| This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act |
| 2006 relating to small companies. |
| ON BEHALF OF THE BOARD: |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| PROFIT AND LOSS ACCOUNT |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| 2014 | 2013 |
| Notes | £ | £ |
| TURNOVER |
| Cost of sales |
| GROSS PROFIT |
| Administrative expenses |
| OPERATING PROFIT | 2 |
| Interest payable and similar charges |
| PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION |
| Tax on profit on ordinary activities | 3 |
| PROFIT FOR THE FINANCIAL YEAR |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| BALANCE SHEET |
| 31 AUGUST 2014 |
| 2014 | 2013 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Profit and loss account | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| BALANCE SHEET - continued |
| 31 AUGUST 2014 |
| The financial statements were approved by the Board of Directors on its behalf by: |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| 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 April 2008). |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
| the balance sheet date. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| Tangible fixed assets acquired under finance leases or hire purchase contracts are capitalised and |
| depreciated in the same manner as other tangible fixed assets. The related obligations, net of future |
| finance charges, are included in creditors. |
| 2. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2014 | 2013 |
| £ | £ |
| Depreciation - owned assets |
| Profit on disposal of fixed assets | ( |
) | ( |
) |
| Foreign exchange differences | ( |
) |
| Directors' remuneration and other benefits etc |
| 3. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit on ordinary activities for the year was as follows: |
| 2014 | 2013 |
| £ | £ |
| Current tax: |
| UK corporation tax |
| Deferred tax | ( |
) | ( |
) |
| Tax on profit on ordinary activities |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2013 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 August 2014 |
| DEPRECIATION |
| At 1 September 2013 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 August 2014 |
| NET BOOK VALUE |
| At 31 August 2014 |
| At 31 August 2013 |
| Included in the above are assets held under hire purchase with a cost of £55,630 (2013 - £113,227) |
| and accumulated depreciation of £24,338 (2013 - £39,106). The agreement is secured against the |
| asset to which it relates. |
| The above Tangible Fixed Assets are held for the purpose of leasing. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2014 | 2013 |
| £ | £ |
| Hire purchase contracts |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| 8. | DEFERRED TAX |
| £ |
| Balance at 1 September 2013 | ( |
) |
| Deferred tax | ( |
) |
| Balance at 31 August 2014 | ( |
) |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2014 | 2013 |
| value: | £ | £ |
| Ordinary | £1 |
| Ordinary A | £1 |
| Ordinary B | £1 |
| Ordinary C | £1 |
| Ordinary D | £1 |
| 5 | Ordinary E | £1 | 5 | 5 |
| 5 | Ordinary F | £1 | 5 | 5 |
| 1,000 | 1,000 |
| 10. | RESERVES |
| Profit |
| and loss |
| account |
| £ |
| At 1 September 2013 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2014 |
| 11. | RELATED PARTY DISCLOSURES |
| Maywal Limited |
| A company in which C D Murch is a director |
| During the year the company made supplies totalling £771,062 to Maywal Limited. As at the balance |
| sheet date the company was owed £24,790 in other debtors and owed £34,219 in trade debtors. |
| MWL International Limited |
| A company in which C D Murch is a director |
| As at the balance sheet date the company was owed £244,931 by MWL International Limited, this |
| balance is included in trade debtors. |
| ABM LEASING LIMITED (REGISTERED NUMBER: 03169270) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 AUGUST 2014 |
| 11. | RELATED PARTY DISCLOSURES - continued |
| Phoenix Green Resources Limited |
| A company in which C D Murch is also a director |
| During the year the company made supplies amounting to £5,715 to Phoenix Green Resources |
| Limited. |
| 12. | ULTIMATE CONTROLLING PARTY |