Ab Fab Events Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08077603 (England and Wales)

ABRIDGED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

AB FAB EVENTS LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

A C Beauchamp

M L Tyson

D S Walker

SECRETARY:

First Instance Secretariat Limited

REGISTERED OFFICE:

Sovereign House

22 Shelley Road

WORTHING

West Sussex

BN11 1TU

REGISTERED NUMBER:

08077603 (England and Wales)

ACCOUNTANTS:

Barrett & Monetaire

Sovereign House

22 Shelley Road

WORTHING

West Sussex

BN11 1TU

FIXED ASSETS

Intangible assets

4

15,000

18,000

Tangible assets

5

674

486

15,674

18,486

CURRENT ASSETS

Cash at bank

2,241

1,584

CREDITORS

Amounts falling due within one year

84,860

80,100

NET CURRENT LIABILITIES

(82,619

)

(78,516

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(66,945

)

(60,030

)

PROVISIONS FOR LIABILITIES

128

-

NET LIABILITIES

(67,073

)

(60,030

)

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

(67,085

)

(60,042

)

SHAREHOLDERS' FUNDS

(67,073

)

(60,030

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 February 2018 and were signed on its behalf by:

A C Beauchamp - Director

1.	STATUTORY INFORMATION

Ab Fab Events Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 25% on cost

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

and 31 May 2017

30,000

AMORTISATION

At 1 June 2016

12,000

Amortisation for year

3,000

At 31 May 2017

15,000

NET BOOK VALUE

At 31 May 2017

15,000

At 31 May 2016

18,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2016

834

Additions

484

At 31 May 2017

1,318

DEPRECIATION

At 1 June 2016

348

Charge for year

296

At 31 May 2017

644

NET BOOK VALUE

At 31 May 2017

674

At 31 May 2016

486

6.	INSOLVENT POSITION

The directors are aware that the company is trading insolvently and realise their responsibilities under the

provisions of the Insolvency Act 1986.

7.	GOING CONCERN

Included in creditors are loans totalling £83,814 (2016: £79,365) from the directors. The directors undertake not

to draw down on these loans to the detriment of the company. As such, they consider it appropriate to prepare

the accounts on the going concern basis.

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2017 set out on pages three to ten and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Barrett & Monetaire

Sovereign House

22 Shelley Road

WORTHING

West Sussex

BN11 1TU

22 February 2018