REGISTERED NUMBER: 04116888 (England and Wales)

Financial Statements for the Year Ended 31 March 2018

for

A & B Fencing Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Gorman

Mrs J Tayefi

REGISTERED OFFICE:

Birchill Road

Knowsley Industrial Estate

Liverpool

Merseyside

L33 7TD

REGISTERED NUMBER:

04116888 (England and Wales)

ACCOUNTANTS:

Cobham Murphy Limited

116 Duke Street

Liverpool

Merseyside

L1 5JW

FIXED ASSETS

Tangible assets

4

855,775

852,718

CURRENT ASSETS

Stocks

97,775

72,236

Debtors

5

258,524

207,412

Cash at bank and in hand

2,284

17,244

358,583

296,892

CREDITORS

Amounts falling due within one year

6

297,175

223,500

NET CURRENT ASSETS

61,408

73,392

TOTAL ASSETS LESS CURRENT LIABILITIES

917,183

926,110

CREDITORS

Amounts falling due after more than one year

7

(149,342

)

(152,021

)

PROVISIONS FOR LIABILITIES

(153,477

)

(160,943

)

NET ASSETS

614,364

613,146

CAPITAL AND RESERVES

Called up share capital

3

3

Revaluation reserve

9

524,000

524,000

Retained earnings

90,361

89,143

SHAREHOLDERS' FUNDS

614,364

613,146

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 18 December 2018 and were signed on its behalf by:

Mrs J Tayefi - Director

1.	STATUTORY INFORMATION

A & B Fencing 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

There are no judgements (apart from those involving estimates) that have had a significant effect on amounts

recognised in the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received for the sale of goods excluding value added

tax. Turnover is recognised at the point of sale.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

No depreciation charged

Plant and machinery etc

-

25% on reducing balance and 15% 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.

Financial instruments

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest,

and subsequently at amortised cost using the effective interest method.

Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are

measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective

evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit

and loss.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

703,000

513,511

1,216,511

Additions

-

43,048

43,048

Disposals

-

(19,250

)

(19,250

)

At 31 March 2018

703,000

537,309

1,240,309

DEPRECIATION

At 1 April 2017

-

363,793

363,793

Charge for year

-

31,870

31,870

Eliminated on disposal

-

(11,129

)

(11,129

)

At 31 March 2018

-

384,534

384,534

NET BOOK VALUE

At 31 March 2018

703,000

152,775

855,775

At 31 March 2017

703,000

149,718

852,718

The properties have been valued by the directors.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 April 2017

138,705

Additions

39,350

Disposals

(19,250

)

Transfer to ownership

(68,556

)

At 31 March 2018

90,249

DEPRECIATION

At 1 April 2017

86,158

Charge for year

13,154

Eliminated on disposal

(11,129

)

Transfer to ownership

(56,355

)

At 31 March 2018

31,828

NET BOOK VALUE

At 31 March 2018

58,421

At 31 March 2017

52,547

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Trade debtors

43,486

55,839

Other debtors

215,038

151,573

258,524

207,412

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans and overdrafts

36,621

12,702

Hire purchase contracts

16,956

14,203

Trade creditors

124,158

122,523

Taxation and social security

21,333

36,704

Other creditors

98,107

37,368

297,175

223,500

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.18

31.3.17

£

£

Bank loans

103,418

114,793

Hire purchase contracts

45,924

37,228

149,342

152,021

Amounts falling due in more than five years:

Repayable by instalments

Bank loans due after 5 years

52,418

64,793

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.18

31.3.17

£

£

Bank overdrafts

26,621

3,702

Bank loans

113,418

123,793

Hire purchase contracts

62,880

51,431

202,919

178,926

9.

RESERVES

Revaluation

reserve

£

At 1 April 2017

and 31 March 2018

524,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the director, Mr J Gorman and Mrs J Tayefi, operated accounts to which transactions of a

private nature were charged. Included in other creditors at the balance sheet date is £54,718 and £3,570 (2017

£8,857 and £4,905 was included in other debtors) which is owed to Mr J Gorman and Mrs J Tayefi.

11.	RELATED PARTY DISCLOSURES

Included in debtors at the balance sheet date is £207,975 (2017 £129,740) owed by Gorman Investments

Limited. A&B Fencing Limited and Gorman Investments Limited are related by common directors and

shareholders.

J Gorman is also a shareholder of Mersey Concrete Limited. Included in other creditors as at 31st March 2018 is

£29,841 (2017 £30,370) owing to Mersey Concrete Limited.

12.	ULTIMATE CONTROLLING PARTY