REGISTERED NUMBER: 00526819 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2017

for

Abbott & Smith Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

T Abbott

D Abbott

D Simm

Mrs K Kellett

SECRETARY:

D Simm

REGISTERED OFFICE:

82-84 Ellesmere Road

Pemberton

Wigan

Lancashire

WN5 9LD

REGISTERED NUMBER:

00526819 (England and Wales)

ACCOUNTANTS:

Ashford Rainham Limited

10-12 Upper Dicconson St

Wigan

Lancashire

WN1 2AD

FIXED ASSETS

Tangible assets

4

218,201

220,112

CURRENT ASSETS

Stocks

5

117,615

115,773

Debtors

6

8,093

1,727

Cash at bank

370,088

379,280

495,796

496,780

CREDITORS

Amounts falling due within one year

7

66,563

73,804

NET CURRENT ASSETS

429,233

422,976

TOTAL ASSETS LESS CURRENT LIABILITIES

647,434

643,088

CAPITAL AND RESERVES

Called up share capital

8,404

8,404

Retained earnings

639,030

634,684

SHAREHOLDERS' FUNDS

647,434

643,088

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.

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 5 January 2018 and were signed on its behalf by:

T Abbott - Director

D Simm - Director

1.	STATUTORY INFORMATION

Abbott & Smith 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.

Freehold property

-

2% on reducing balance

Improvements to property

-

2% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

Freehold

to

and

property

property

fittings

£

£

£

COST

At 1 June 2016

and 31 May 2017

84,847

195,839

40,610

DEPRECIATION

At 1 June 2016

33,832

44,285

35,847

Charge for year

-

-

476

At 31 May 2017

33,832

44,285

36,323

NET BOOK VALUE

At 31 May 2017

51,015

151,554

4,287

At 31 May 2016

51,015

151,554

4,763

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 June 2016

and 31 May 2017

31,225

27,772

380,293

DEPRECIATION

At 1 June 2016

19,494

26,723

160,181

Charge for year

1,173

262

1,911

At 31 May 2017

20,667

26,985

162,092

NET BOOK VALUE

At 31 May 2017

10,558

787

218,201

At 31 May 2016

11,731

1,049

220,112

5.

STOCKS

2017

2016

£

£

Stocks

117,615

115,773

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,536

-

Other debtors

1,557

1,727

8,093

1,727

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

1,427

Trade creditors

48,826

49,737

Taxation and social security

14,836

19,739

Other creditors

2,901

2,901

66,563

73,804