ABL Circuits Limited - Abbreviated accounts 16.1

ABL CIRCUITS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31ST AUGUST 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Accountants' Report

6

DIRECTOR:

M Leverett

SECRETARY:

A Leverett

REGISTERED OFFICE:

First Floor, Woburn Court

2 Railton Road,

Woburn Road Industrial Estate, Kempston

Bedford

MK42 7PN

REGISTERED NUMBER:

04207139 (England and Wales)

ACCOUNTANTS:

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

FIXED ASSETS

Intangible assets

2

-

Tangible assets

3

25,621

29,560

25,621

29,560

CURRENT ASSETS

Stocks

10,500

Debtors

208,715

208,136

Cash at bank and in hand

6,104

52,749

225,319

271,385

CREDITORS

Amounts falling due within one year

161,182

156,594

NET CURRENT ASSETS

64,137

114,791

TOTAL ASSETS LESS CURRENT
LIABILITIES

89,758

144,351

PROVISIONS FOR LIABILITIES

4,100

4,666

NET ASSETS

85,658

139,685

CAPITAL AND RESERVES

Called up share capital

4

100

Profit and loss account

85,558

139,585

SHAREHOLDERS' FUNDS

85,658

139,685

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 13th March 2017 and were signed by:

M Leverett - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

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

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2015

and 31st August 2016

96,208

AMORTISATION

At 1st September 2015

and 31st August 2016

96,208

NET BOOK VALUE

At 31st August 2016

-

At 31st August 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1st September 2015

252,226

Additions

3,162

At 31st August 2016

255,388

DEPRECIATION

At 1st September 2015

222,666

Charge for year

7,101

At 31st August 2016

229,767

NET BOOK VALUE

At 31st August 2016

25,621

At 31st August 2015

29,560

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/8/16

31/8/15

value:

£

100

Ordinary

£1

100

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st August 2016 and

31st August 2015:

31/8/16

31/8/15

£

M Leverett

Balance outstanding at start of year

882

(377

)

Amounts advanced

198,489

162,259

Amounts repaid

(155,300

)

(161,000

)

Balance outstanding at end of year

44,071

882

Included in debtors at the year end is a balance owed from the director totalling of £44,071 (2015: £882). The

director was charged interest during the financial period at an annual rate of 3.25%/3% on balances owed to the

company during the year. There are no set terms of repayment.

The director has personally guaranteed a sum of £50,000 to the company's bankers as security.

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

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of ABL Circuits Limited for the year ended 31st August 2016 which comprise the Profit and Loss

Account, the Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the director of ABL Circuits Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of ABL Circuits Limited and state those matters that we have agreed to state to the director of ABL Circuits Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that ABL Circuits Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ABL Circuits Limited. You consider that ABL Circuits Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ABL Circuits Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Haines Watts

First Floor, Woburn Court

2 Railton Road

Woburn Rd Ind Est

Kempston

Bedfordshire

MK42 7PN

13th March 2017