Registered Number 02521325
ABS GROUP (UK) LIMITED
Abbreviated Accounts
28 February 2015
Notes | 2015 | 2014 | |
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£ | £ | ||
Fixed assets | |||
Tangible assets | 2 |
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Investments | 3 |
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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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Total net assets (liabilities) |
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Capital and reserves | |||
Called up share capital | 4 |
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Other reserves |
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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
Tangible assets depreciation policy
Plant and machinery 10% & 25% straight line
Motor vehicles 25% straight line
Other accounting policies
Work in progress is valued at the lower of cost and net realisable value. Where the outcome of long term contracts can be estimated reliably, revenue and costs are recognised by reference to the stage of completion.
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 comprises 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.
£ | |
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Cost | |
At 1 March 2014 |
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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 28 February 2015 |
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Depreciation | |
At 1 March 2014 |
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Charge for the year |
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On disposals |
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At 28 February 2015 |
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Net book values | |
At 28 February 2015 | 5,449 |
At 28 February 2014 | 7,078 |
3
Fixed assets Investments
At 1 March 2014: 100
At 28 February 2015: 100
The company holds 20% or more of the share capital of the following companies:
Company: Absolut Building Solutions Ltd
Shares class held: Ordinary - 100% shareholding
Capital and reserves: (£2,080)
Profit (loss) for the year: (£262)
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 2014, being the latest accounting date before that of the company. On the grounds of materiality the year end has not been changed.