Company Registration No. 04726329 (England and Wales)
P ABRAHAM & SON LIMITED
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2016
P ABRAHAM & SON LIMITED
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
P ABRAHAM & SON LIMITED
ABBREVIATED BALANCE SHEET
AS AT
30 APRIL 2016
30 April 2016
- 1 -
2016
2015
Notes
£
£
£
£
Fixed assets
Intangible assets
2
18,000
21,000
Tangible assets
2
140,010
150,757
158,010
171,757
Current assets
Stocks
3,250
3,750
Debtors
61,609
57,625
Cash at bank and in hand
176,915
158,505
241,774
219,880
Creditors: amounts falling due within one year
3
(160,860)
(174,477)
Net current assets
80,914
45,403
Total assets less current liabilities
238,924
217,160
Creditors: amounts falling due after more than one year
(45,828)
(59,933)
Provisions for liabilities
(18,200)
(16,700)
174,896
140,527
Capital and reserves
Called up share capital
4
100
100
Profit and loss account
174,796
140,427
Shareholders' funds
174,896
140,527
P ABRAHAM & SON LIMITED
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2016
30 April 2016
- 2 -
For the financial year ended 30 April 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 23 November 2016
PJ Abraham
Director
Company Registration No. 04726329
P ABRAHAM & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 30 APRIL 2016
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents revenue recognised in the financial statements. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Leasehold property
Straight line over the life of the lease
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
1.6
Leasing and hire purchase commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over the shorter of the lease term and their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.7
Stock
Stock is valued at the lower of cost and net realisable value.
1.8
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
P ABRAHAM & SON LIMITED
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2016
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 May 2015
30,000
336,321
366,321
Additions
-
20,473
20,473
Disposals
-
(54,334)
(54,334)
At 30 April 2016
30,000
302,460
332,460
Depreciation
At 1 May 2015
9,000
185,564
194,564
On disposals
-
(46,881)
(46,881)
Charge for the year
3,000
23,767
26,767
At 30 April 2016
12,000
162,450
174,450
Net book value
At 30 April 2016
18,000
140,010
158,010
At 30 April 2015
21,000
150,757
171,757
3
Creditors: amounts falling due within one year
The aggregate amount of creditors for which security has been given amounted to £68,986 (2015 - £78,787).
4
Share capital
2016
2015
£
£
Allotted, called up and fully paid
70 Ordinary 'A' shares of £1 each
70
70
30 Ordinary 'B' shares of £1 each
30
30
100
100