ABS Electrical Services Limited

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—7

Registered number: 06176319

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	7		36,885		37,324

			36,885		37,324
CURRENT ASSETS
Stocks	8	1,000		19,627
Debtors	9	90,188		133,092
Cash at bank and in hand		126,183		73,688

		217,371		226,407
Creditors: Amounts Falling Due Within One Year	10	(87,803 )		(89,249 )

NET CURRENT ASSETS (LIABILITIES)			129,568		137,158

TOTAL ASSETS LESS CURRENT LIABILITIES			166,453		174,482

Creditors: Amounts Falling Due After More Than One Year	11		(10,486 )		(15,729 )

NET ASSETS			155,967		158,753

CAPITAL AND RESERVES
Called up share capital	12		2		2
Profit and loss account			155,965		158,751

SHAREHOLDERS' FUNDS			155,967		158,753

Page 1

Balance Sheet (continued)

As at 31 March 2017

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account

On behalf of the board

Mr Andrew Sheehy	Mrs Lisa Sheehy
7 October 2017

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 April 2015	2	93,626	93,628
Profit for the year and total comprehensive income	-	165,125	165,125

Dividends paid	-	(100,000)	(100,000)

As at 31 March 2016 and 1 April 2016	2	158,751	158,753


Profit for the year and total comprehensive income	-	92,214	92,214

Dividends paid	-	(95,000)	(95,000)

As at 31 March 2017	2	155,965	155,967

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25%
Motor Vehicles	25%

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.5. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

4. Average number of employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	12	-

	12	-

Page 4

ABS Electrical Services Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

7. Tangible Assets


	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 April 2016	15,751	75,118	90,869
Additions	3,729	10,599	14,328
Disposals	-	(10,417 )	(10,417 )

As at 31 March 2017	19,480	75,300	94,780

Depreciation
As at 1 April 2016	9,862	43,683	53,545
Provided during the period	2,868	10,045	12,913
Disposals	-	(8,563 )	(8,563 )

As at 31 March 2017	12,730	45,165	57,895

Net Book Value
As at 31 March 2017	6,750	30,135	36,885

As at 1 April 2016	5,889	31,435	37,324

8. Stocks

	2017	2016
	£	£
Stock - materials	1,000	1,000
Stock - work in progress	-	18,627

	1,000	19,627

9. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	90,188	133,092

	90,188	133,092

Page 5

ABS Electrical Services Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

10. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	11,864	7,460
Corporation tax	25,773	38,173
VAT	36,493	28,109
Net wages	7,522	10,441
Other creditors	689	985
Other creditors - NEST PENSION	372	-
Directors' loan accounts	5,090	4,081

	87,803	89,249

11. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Loan - FCE Bank	6,920	10,380
Loan - Citroen Finance	3,566	5,349

	10,486	15,729

12. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	2	2	2

13. Transactions With and Loans to Directors

Dividends paid to directors

14. Dividends

	2017	2016
	£	£
On equity shares:
Final dividend paid	95,000	100,000

	95,000	100,000

Page 6

ABS Electrical Services Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

15. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

16. General Information

ABS Electrical Services Limited Registered number 06176319 is a limited by shares company incorporated in England & Wales. The Registered Office is 7 Woodside Drive, Dartford, Kent, DA2 7NG.