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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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ABLE BUILD LIMITED |
REGISTERED NUMBER:
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FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2016 |
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FOR |
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ABLE BUILD LIMITED |
ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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Company Information | 1 |
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Statement of Financial Position | 2 |
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Notes to the Financial Statements | 4 |
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ABLE BUILD LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
232 Sladepool Farm Road |
Birmingham |
B14 5EE |
ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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STATEMENT OF FINANCIAL POSITION |
30 APRIL 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Debtors | 7 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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STATEMENT OF FINANCIAL POSITION - continued |
30 APRIL 2016 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors on
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ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2016 |
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1. | STATUTORY INFORMATION |
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Able Build Limited is a
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registered number and registered office address can be found on the Company Information page. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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The company has applied early adoption of the July 2015 amendments to Financial Reporting Standard 102 "The |
Financial Reporting Standard applicable in the UK and Republic of Ireland." As a consequence of early |
adoption "The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015" are also applied. |
This is the first time the company has adopted Financial Reporting Standard 102 "The Financial Reporting |
Standard applicable in the UK and Republic of Ireland." |
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Significant judgements and estimates |
In preparing these financial statements the company's management make judgements, estimates and assumptions |
that affect the amounts reported for assets and liabilities at the statement of financial position date and the |
amounts reported in the income statement for the year under review. |
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The nature of estimates means that the actual outcome could differ and the company's management consider |
there are no estimates or assumptions that have a significant risk of causing a material adjustment to the amounts |
reported for assets and liabilities within the next financial year. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Goodwill |
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Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
life. |
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Plant and machinery etc | - | 15% and 25% on reducing balance |
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Tangible fixed assets are initially recorded at cost. |
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Tax |
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the |
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax |
rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position date. |
ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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3. | ACCOUNTING POLICIES - continued |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet and are |
depreciated over their estimated useful lives. The interest element of these obligations is charged to profit or loss |
over the relevant period. The capital element of the future payments is treated as a liability. Rentals paid under |
operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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Financial instruments |
Basic financial assets, including trade and other debtors and cash at bank, are initially recognised at transaction |
price and are subsequently measured at amortised cost. Basic financial liabilities, including trade and other |
creditors, are initially recognised at transaction price and are subsequently measured at amortised cost. |
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Employee benefits |
When employees have rendered service to the company, short-term employee benefits to which the employees |
are entitled are recognised at the amount expected to be paid in exchange for that service. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 May 2015 |
and 30 April 2016 |
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AMORTISATION |
At 1 May 2015 |
and 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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6. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2015 |
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Additions |
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Disposals | ( |
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At 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Trade debtors |
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Prepayments and accrued income |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Bank loans and overdrafts |
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Hire purchase contracts |
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Trade creditors |
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Taxation and social security | 43,786 | 41,158 |
Other creditors |
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Accruals and deferred income |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2016 | 2015 |
£ | £ |
Hire purchase contracts |
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ABLE BUILD LIMITED (REGISTERED NUMBER: 07977714) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2016 |
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10. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2016 | 2015 |
£ | £ |
Hire purchase contracts | 12,441 | 845 |
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Hire purchase liabilities are secured by a charge over the tangible fixed asset concerned. |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 | 2 | 2 |
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12. | TRANSITION TO FRS 102 |
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No transition adjustments were required following adoption of Financial Reporting Standard 102 "The Financial |
Reporting Standard applicable in the UK and Republic of Ireland." |