REGISTERED NUMBER: 06420028 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2017

FOR

ABBEY INSULATION (SHROPSHIRE) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R A Lewis

REGISTERED OFFICE:

35 Upper Bar

Newport

Shropshire

TF10 7EH

REGISTERED NUMBER:

06420028 (England and Wales)

ACCOUNTANTS:

Barringtons Limited

Abbey Court

High Street

Newport

Shropshire

TF10 7BW

FIXED ASSETS

Tangible assets

4

6,679

8,349

CURRENT ASSETS

Stocks

5

2,500

-

Debtors

6

17,287

27,472

Cash at bank

7,994

7,240

27,781

34,712

CREDITORS

Amounts falling due within one year

7

20,211

41,547

NET CURRENT ASSETS/(LIABILITIES)

7,570

(6,835

)

TOTAL ASSETS LESS CURRENT LIABILITIES

14,249

1,514

PROVISIONS FOR LIABILITIES

1,336

1,670

NET ASSETS/(LIABILITIES)

12,913

(156

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,813

(256

)

SHAREHOLDERS' FUNDS

12,913

(156

)

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 director acknowledges his 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.

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

The financial statements were approved by the director on 16 January 2018 and were signed by:

R A Lewis - Director

1.	STATUTORY INFORMATION

Abbey Insulation (Shropshire) 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.

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

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

4,391

7,217

11,608

DEPRECIATION

At 1 June 2016

3,259

-

3,259

Charge for year

226

1,444

1,670

At 31 May 2017

3,485

1,444

4,929

NET BOOK VALUE

At 31 May 2017

906

5,773

6,679

At 31 May 2016

1,132

7,217

8,349

5.

STOCKS

2017

2016

£

£

Stocks

2,500

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

17,287

27,472

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

-

20,000

Taxation and social security

8,188

15,294

Other creditors

12,023

6,253

20,211

41,547