REGISTERED NUMBER: SC200588 (Scotland)

Unaudited Financial Statements

for the Year Ended 31 October 2016

for

Abuzz Ltd.

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

6

DIRECTORS:

Mrs C A Cullen

Mr K J B Cullen

Mr P K Cullen

SECRETARY:

Mrs C A Cullen

REGISTERED OFFICE:

Old Church

Southcraigs Road

Rumford

Falkirk

Central

FK2 0SF

REGISTERED NUMBER:

SC200588 (Scotland)

ACCOUNTANTS:

Yates & Co

Chartered Accountants

Registered Auditor

Unit 4B Gateway Bus Park

Grangemouth

Central

FK3 8WX

BANKERS:

The Royal Bank of Scotland plc

2 Newmarket Centre

Falkirk

FK1 1JX

FIXED ASSETS

Tangible assets

2

917

1,219

CURRENT ASSETS

Stocks

4,480

4,400

Debtors

3

8,513

5,215

Cash at bank and in hand

9,979

5,583

22,972

15,198

CREDITORS

Amounts falling due within one year

4

22,267

15,515

NET CURRENT ASSETS/(LIABILITIES)

705

(317

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,622

902

PROVISIONS FOR LIABILITIES

5

1

21

NET ASSETS

1,621

881

CAPITAL AND RESERVES

Called up share capital

6

4

4

Profit and loss account

1,617

877

SHAREHOLDERS' FUNDS

1,621

881

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 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.

The financial statements were approved by the Board of Directors on 13 April 2017 and were signed on its behalf by:

Mr K J B Cullen - 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

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 November 2015

and 31 October 2016

582

1,166

12,133

1,504

15,385

DEPRECIATION

At 1 November 2015

575

1,131

10,956

1,504

14,166

Charge for year

2

7

293

-

302

At 31 October 2016

577

1,138

11,249

1,504

14,468

NET BOOK VALUE

At 31 October 2016

5

28

884

-

917

At 31 October 2015

7

35

1,177

-

1,219

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

£

Trade debtors

2,114

304

Other debtors

6,399

4,911

8,513

5,215

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.16

31.10.15

£

£

Trade creditors

12,998

5,477

Taxation and social security

605

223

Other creditors

8,664

9,815

22,267

15,515

5.	PROVISIONS FOR LIABILITIES

31.10.16

31.10.15

£

£

Deferred tax

The accumulated excess of capital allowances over corresponding depreciation

1

21

Deferred

tax

£

Balance at 1 November 2015

21

Provided during year

(20

)

Transfer to profit and loss

Balance at 31 October 2016

1

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.16

31.10.15

value:

£

£

4

Ordinary

£1

4

4

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £1,600 (2015 - £5,000) were paid to the directors .

Creditors include the following amounts which are owed to individuals who were directors of the company

during the year:

31.10.16

31.10.15

£

£

Mrs C A Cullen

2,056

2,500

Mr K J B Cullen

1,966

2,359

Mr P K Cullen

2,069

2,464

6,091

7,323

The maximum balance outstanding during the year amounted to £7,323.

The directors loan accounts are non-interest bearing and carry no fixed terms of repayment.

Trade creditors include the following amounts owing to related parties:

31.10.16

31.10.15

£

£

John Cullen & Sons Limited

-

-

JCS Builders Limited

3,120

2,080

3,120

2,080

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

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

financial statements of Abuzz Ltd. for the year ended 31 October 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 of Scotland, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.org.uk/accountspreparationguidance.

This report is made solely to the Board of Directors of Abuzz Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abuzz Ltd. and state those matters that we have agreed to state to the Board of Directors of Abuzz Ltd., as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants of Scotland as detailed at http://www.icas.org.uk/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abuzz Ltd. 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 Abuzz Ltd.. You consider that Abuzz Ltd. 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 Abuzz Ltd.. 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.

Yates & Co

Chartered Accountants

Registered Auditor

Unit 4B Gateway Bus Park

Grangemouth

Central

FK3 8WX

13 April 2017