ABAC_TRANSPORT_&_TRADING_ - Accounts

ABAC TRANSPORT & TRADING LTD - Company Information

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ABAC TRANSPORT & TRADING LTD

ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

Company Registration No. 00555517 (England and Wales)

ABAC TRANSPORT & TRADING LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

ABAC TRANSPORT & TRADING LTD

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

1,568

2,334

Current assets

Stocks

186,700

25,070

Debtors

23,000

19,907

Cash at bank and in hand

32,806

223,944

242,506

268,921

Creditors: amounts falling due within one year

(85,071)

(73,366)

Net current assets

157,435

195,555

Total assets less current liabilities

159,003

197,889

Provisions for liabilities

(467)

159,003

197,422

Capital and reserves

Called up share capital

1,050

Other reserves

400

Profit and loss account

157,553

195,972

Shareholders' funds

159,003

197,422

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and authorised for issue on 25 September 2015

Mr D J Harper

Director

Company Registration No. 00555517

ABAC TRANSPORT & TRADING LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention.

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 amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised as the goods and services are delivered.

1.4

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:

Fixtures, fittings & equipment

33% straight line

Motor vehicles

25% reducing balance

1.5

Stock

Stock is valued at the lower of cost and net realisable value. In respect of property, cost includes the cost of acquiring land and buildings and development costs. Net realisable value is based on selling price less relevent marketing and selling costs.

1.6

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.

ABAC TRANSPORT & TRADING LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

5,455

Additions

230

At 31 December 2014

5,685

Depreciation

At 1 January 2014

3,121

Charge for the year

996

At 31 December 2014

4,117

Net book value

At 31 December 2014

1,568

At 31 December 2013

2,334

Share capital

2014

2013

Allotted, called up and fully paid

1,050 Ordinary shares of £1 each

1,050