AB TIMBER PRODUCTS LIMITED

Company Registration Number:
05998768 (England and Wales)

Unaudited abridged accounts for the year ended 31 December 2017

Period of accounts

Start date: 01 January 2017

End date: 31 December 2017

AB TIMBER PRODUCTS LIMITED

Contents of the Financial Statements

for the Period Ended 31 December 2017

Balance sheet
Notes

AB TIMBER PRODUCTS LIMITED

Balance sheet

As at 31 December 2017


Notes

2017

2016


£

£
Fixed assets
Tangible assets: 2 8,376 9,450
Total fixed assets: 8,376 9,450
Current assets
Stocks: 14,455 19,395
Debtors:   1,595 1,424
Cash at bank and in hand:   235
Total current assets: 16,050 21,054
Net current assets (liabilities): 16,050 21,054
Total assets less current liabilities: 24,426 30,504
Creditors: amounts falling due after more than one year:   (24,400) (30,336)
Total net assets (liabilities): 26 168
Capital and reserves
Called up share capital: 2 2
Profit and loss account: 24 166
Shareholders funds: 26 168

The notes form part of these financial statements

AB TIMBER PRODUCTS LIMITED

Balance sheet statements

For the year ending 31 December 2017 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 27 September 2018
and signed on behalf of the board by:

Name: A Briggs
Status: Director

The notes form part of these financial statements

AB TIMBER PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable excluding value added tax

Tangible fixed assets and depreciation policy

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.Plant and machinery etc 10-25% on cost

Valuation and information policy

StocksStocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Other accounting policies

TaxationTaxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in othercomprehensive income or directly in equity.Current or deferred taxation assets and liabilities are not discounted.Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.Deferred taxDeferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.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.

AB TIMBER PRODUCTS LIMITED

Notes to the Financial Statements

for the Period Ended 31 December 2017

2. Tangible Assets

Total
Cost £
At 01 January 2017 26,390
At 31 December 2017 26,390
Depreciation
At 01 January 2017 16,940
Charge for year 1,074
At 31 December 2017 18,014
Net book value
At 31 December 2017 8,376
At 31 December 2016 9,450