Able and Ward Limited
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Registered number: |
10158326
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Balance Sheet as at 31 May 2017
|
Notes |
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|
2017 |
|
£ |
|
Fixed assets |
Tangible assets |
3 |
|
|
551 |
Current assets |
Debtors |
4 |
|
2,032 |
Cash at bank and in hand |
|
|
99 |
|
|
|
2,131 |
|
|
Creditors: amounts falling due within one year |
5 |
|
(993) |
Net current assets |
|
|
|
1,138 |
|
Total assets less current liabilities |
|
|
|
1,689 |
|
|
Provisions for liabilities - deferred taxation |
|
|
|
(100) |
Net assets |
|
|
|
1,589 |
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital (issued on incorporation) |
|
|
|
100 |
Profit and loss account |
|
|
|
1,489 |
Shareholders' funds |
|
|
|
1,589 |
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
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|
|
Mr A. Smith |
Director |
Approved by the board on 16 October 2017
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|
Able and Ward Limited
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Notes to the Accounts |
for the period from 3 May 2016 to 31 May 2017
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|
1 |
Accounting policies |
|
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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|
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Turnover from the sale of goods is recognised when goods are delivered and legal title has passed.
|
|
|
Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
|
|
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Plant and Equipment |
4 years straight line basis |
|
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
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|
2 |
Employees |
2017 |
|
Number |
|
|
Average number of persons employed by the |
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company (including directors) during the year |
2 |
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and Equipment |
£ |
|
Cost |
|
Additions |
642 |
|
At 31 May 2017 |
642 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
Charge for the period |
91 |
|
At 31 May 2017 |
91 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 May 2017 |
551 |
|
|
|
|
|
|
|
|
|
|
4 |
Debtors |
2017 |
|
£ |
|
|
Trade debtors |
1,550 |
|
Prepayments |
482 |
|
|
|
|
|
|
2,032 |
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2017 |
|
£ |
|
|
Corporation tax |
361 |
|
Other taxes and social security costs |
120 |
|
Other creditors |
312 |
|
Accruals |
200 |
|
|
|
|
|
|
993 |
|
|
|
|
|
|
|
|
|
6 |
Other information |
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Able and Ward Limited is a private company limited by shares and incorporated in England. Its registered office is : 1 Hunston Avenue, Quarmby, Huddersfield, HD3 4YZ. |