Registered Number 01667861
ABBEY FIRE CENTRE LIMITED
Abbreviated Accounts
30 September 2014
Notes | 2014 | 2013 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Current assets | |||
Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets (liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 3 |
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Profit and loss account |
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Shareholders' funds |
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Approved by the Board on
And signed on their behalf by:
1 Accounting Policies
Basis of measurement and preparation of accounts
Turnover policy
In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets depreciation policy
Improvements to buildings - 15% on a reducing balance basis
Plant and machinery - 15% on a reducing balance basis
Fixtures and fittings - 15% on a reducing balance basis
Motor vehicles - 25% on a reducing balance basis
Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.
Pension costs
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Deferred taxation
The company's basis for accounting for deferred tax is in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Deferred tax is recognised at the anticipated rates in respect of timing differences that have originated but not reversed by the balance sheet date. Deferred tax assets and liabilities are not discounted.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
£ | |
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Cost | |
At 1 October 2013 |
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Additions |
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Disposals |
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Revaluations |
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Transfers |
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At 30 September 2014 |
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Depreciation | |
At 1 October 2013 |
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Charge for the year |
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On disposals |
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At 30 September 2014 |
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Net book values | |
At 30 September 2014 | 2,508 |
At 30 September 2013 | 3,244 |