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REGISTERED NUMBER: 01627240 (England and Wales)
















ABBOTT FASTENERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017






ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ABBOTT FASTENERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2017







DIRECTORS: S.E. Brand
C.T. Clark





SECRETARY: S.E. Brand





REGISTERED OFFICE: Unit 4b The Gloucesters
Luckyn Lane
Pipps Hill Industrial Estate
Basildon
Essex
SS14 3AX





REGISTERED NUMBER: 01627240 (England and Wales)





ACCOUNTANTS: Bland Baker
Chartered Accountants
21 Lodge Lane
Grays
Essex
RM17 5RY

ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

BALANCE SHEET
31 MAY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 17,020 17,865
17,020 17,865

CURRENT ASSETS
Stocks 362,878 408,315
Debtors 6 429,023 382,866
Cash at bank and in hand 295,967 264,760
1,087,868 1,055,941
CREDITORS
Amounts falling due within one year 7 368,086 270,966
NET CURRENT ASSETS 719,782 784,975
TOTAL ASSETS LESS CURRENT
LIABILITIES

736,802

802,840

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 716,802 782,840
SHAREHOLDERS' FUNDS 736,802 802,840

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.

ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

BALANCE SHEET - continued
31 MAY 2017


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.

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 10 November 2017 and were signed on
its behalf by:





S.E. Brand - Director


ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2017

1. STATUTORY INFORMATION

Abbott Fasteners 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2001, is being amortised evenly over its estimated useful life of five 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.
Short leasehold - Nil, has been fully depreciated
Long leasehold - 10% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 20% on cost

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

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.


ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet
and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account over the relevent
period. The capital element of the future payments is treated as a liability.


Pension costs and other post-retirement benefits
Contributions to the company's defined contribution pension scheme are charged to the profit and loss
account in the year they become payable in accordance with the rules of the scheme.


Foreign currencies
Assets and liabilities denominated in foreign currencies are translated into sterling at the rate of
exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into
sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into
account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2016
and 31 May 2017 10,000
AMORTISATION
At 1 June 2016
and 31 May 2017 10,000
NET BOOK VALUE
At 31 May 2017 -
At 31 May 2016 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2016 11,924 251,624 263,548
Additions - 8,500 8,500
Disposals - (24,829 ) (24,829 )
At 31 May 2017 11,924 235,295 247,219
DEPRECIATION
At 1 June 2016 11,397 234,286 245,683
Charge for year 486 6,304 6,790
Eliminated on disposal - (22,274 ) (22,274 )
At 31 May 2017 11,883 218,316 230,199
NET BOOK VALUE
At 31 May 2017 41 16,979 17,020
At 31 May 2016 527 17,338 17,865

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 416,521 370,773
Other debtors 12,502 12,093
429,023 382,866

ABBOTT FASTENERS LIMITED (REGISTERED NUMBER: 01627240)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2017

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade creditors 112,291 112,059
Taxation and social security 105,147 108,080
Other creditors 150,648 50,827
368,086 270,966

8. CONTINGENT LIABILITIES

A counter guarantee of £10,000, arising from an indemnity of £10,000, given by the bank to Customs
and Excise on behalf of the company.


9. RELATED PARTY DISCLOSURES

Controlling party
The company is controlled by the directors.

Transactions with related parties
During the year the company had the following transactions with the company pension scheme, the
sole beneficiaries of which are the directors.
20172016
££
Paid rent for the use of the company's trading premises55,50055,500

All transactions were made on normal commercial terms.

During the year the company paid the directors and their wifes the following dividends:

S.E. Brand and his wife134,600182,600
C.T. Clark and his wife134,600182,600

Balances with related parties
At 31 May 2017 the company had balances with the following related parties:.
20172016
££
Director- S.E. Brand (Creditor)61,000779
Director- C.T. Clark (Creditor)48,6337,501
Pension scheme (Creditor) 285 285

The balances represented unsecured, interest free loans repayable on demand.