Abby Welding Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07524474 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

ABBY WELDING LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Rainford

Mrs R Rainford

REGISTERED OFFICE:

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

REGISTERED NUMBER:

07524474 (England and Wales)

ACCOUNTANTS:

Studholme-Bell Limited

Chartered Accountants

& Business Advisors

Vantage House Euxton Lane

Euxton

Chorley

Lancashire

PR7 6TB

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

39,676

52,660

39,676

52,660

CURRENT ASSETS

Stocks

38,790

5,261

Debtors

70,646

57,107

Cash at bank

33,709

64,235

143,145

126,603

CREDITORS

Amounts falling due within one year

76,861

69,033

NET CURRENT ASSETS

66,284

57,570

TOTAL ASSETS LESS CURRENT LIABILITIES

105,960

110,230

CREDITORS

Amounts falling due after more than one year

(23,331

)

(28,083

)

PROVISIONS FOR LIABILITIES

(7,538

)

(5,781

)

NET ASSETS

75,091

76,366

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

74,991

76,266

SHAREHOLDERS' FUNDS

75,091

76,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 March 2018 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 15 October 2018 and were signed on its behalf by:

S J Rainford - Director

1.	STATUTORY INFORMATION

Abby Welding Limited is a private company, limited by shares, registered in England and Wales. The registered

office address can be found on the company information page.

2.	STATEMENT OF COMPLIANCE

The accounts have been prepared in accordance with the provisions of FRS102 Section 1A small entities. There

were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Revenue recognition

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership

have transferred to them.

Goodwill

Goodwill is capitalised and is being amortised over its useful life of 2 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

-

25% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Inventories have been valued at the lower of cost and estimated selling price, less costs to sell. In respect of

work in progress and finished goods, cost included a relevant proportion of overheads according to the stage of

manufacture/completion.

Taxation

Taxation 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 other comprehensive 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 tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment

of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Hire purchase and leasing commitments

Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and

depreciated in the same manner as other intangible assets. The related obligations, net of future finance charges,

are included in creditors.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

20,000

AMORTISATION

At 1 April 2017

and 31 March 2018

20,000

NET BOOK VALUE

At 31 March 2018

-

At 31 March 2017

-

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2017

and 31 March 2018

101,585

DEPRECIATION

At 1 April 2017

48,925

Charge for year

12,984

At 31 March 2018

61,909

NET BOOK VALUE

At 31 March 2018

39,676

At 31 March 2017

52,660

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank loans

-

1,592

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £64,500 were paid to the directors .