Registered number
03540746
AB Construction Building & Development Limited
Abbreviated Accounts
30 April 2015
AB Construction Building & Development Limited
Registered number: 03540746
Abbreviated Balance Sheet
as at 30 April 2015
Notes 2015 2014
£ £
Fixed assets
Tangible assets 2 12,995 3,831
Current assets
Stocks 999,130 1,975,964
Debtors 591,852 101,878
Cash at bank and in hand 165,939 10,816
1,756,921 2,088,658
Creditors: amounts falling due within one year (751,502) (2,091,334)
Net current assets/(liabilities) 1,005,419 (2,676)
Total assets less current liabilities 1,018,414 1,155
Creditors: amounts falling due after more than one year (697,156) -
Net assets 321,258 1,155
Capital and reserves
Called up share capital 4 100 100
Profit and loss account 321,158 1,055
Shareholder's funds 321,258 1,155
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Mr BJ Doherty
Director
Approved by the board on 28 April 2016
AB Construction Building & Development Limited
Notes to the Abbreviated Accounts
for the year ended 30 April 2015
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
Going concern basis of accounting
At the balance sheet date the Company's liabilities exceeded its assets. The Company has
received assurance from its Director that he will continue to give financial support to the
Company for twelve months from the date of signing these financial statements.
On this basis, the Director considers it appropriate to prepare the accounts on a going concern
basis. However, should the financial support mentioned above not be forthcoming, the going
concern basis used in preparing the Company's accounts may be invalid and adjustments
would have to be made to reduce the value of assets to their realisable amount and to provide
for any further liabilities which might arise. The accounts do not include any adjustment to the
Company's assets or liabilities that might be necessary should this basis not continue to be
appropriate.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures, fittings and equipment 25% per annum on reducing balance
Motor vehicles 25% per annum on reducing balance
Stocks
Stock is valued at the lower of cost and net realisable value.
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.
2 Tangible fixed assets £
Cost
At 1 May 2014 14,981
Additions 13,495
At 30 April 2015 28,476
Depreciation
At 1 May 2014 11,150
Charge for the year 4,331
At 30 April 2015 15,481
Net book value
At 30 April 2015 12,995
At 30 April 2014 3,831
3 Loans 2015 2014
£ £
Creditors include:
Secured bank loans 697,156 1,255,036
4 Share capital Nominal 2015 2015 2014
value Number £ £
Allotted, called up and fully paid:
Ordinary shares £1 each 100 100 100
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