REGISTERED NUMBER: 02313765 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

A.B. BUILDING PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J N Richmond

Mr C J Richmond

Mr M J Richmond

SECRETARY:

Mrs L M Richmond

REGISTERED OFFICE:

Kingsgate House

North Wing, Ground Floor

Newbury Road

Andover

Hampshire

SP10 4DU

BUSINESS ADDRESS:

Unit 5, Regent Court

South Way

Walworth Industrial Estate

Andover

Hampshire

SP10 5NX

REGISTERED NUMBER:

02313765 (England and Wales)

FIXED ASSETS

Tangible assets

5

46,555

57,453

CURRENT ASSETS

Stocks

359,133

289,596

Debtors

6

200,467

207,108

Cash at bank and in hand

14,297

9,590

573,897

506,294

CREDITORS

Amounts falling due within one year

7

492,129

413,219

NET CURRENT ASSETS

81,768

93,075

TOTAL ASSETS LESS CURRENT LIABILITIES

128,323

150,528

CREDITORS

Amounts falling due after more than one year

8

(11,630

)

(31,974

)

PROVISIONS FOR LIABILITIES

(9,311

)

(11,490

)

NET ASSETS

107,382

107,064

CAPITAL AND RESERVES

Called up share capital

10

62

57

Share premium

499

499

Capital redemption reserve

51

51

Retained earnings

106,770

106,457

SHAREHOLDERS' FUNDS

107,382

107,064

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 13 June 2017 and were signed on its behalf by:

Mr J N Richmond - Director

1.	STATUTORY INFORMATION

A.B. Building Products 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

This is the first year that the company has presented its financial statements under Financial Reporting Standard

102 Section 1A (FRS 102 Section 1A) issued by the Financial Reporting Council. The last financial statements,

for the year ended 31st March 2016, were prepared under previous UK GAAP. The transition date to FRS 102

Section 1A is therefore 1st April 2015.

Adopting FRS 102 Section 1A has not resulted in any changes to the company's existing accounting policies

which were applied prior to transition. There was no change to the reported profit and loss account or closing

equity position of the business for the year ended 31st March 2016 as a result of the transition, nor to opening

equity positions at the date of transition.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of

Value Added Tax, adjusted for uninvoiced sales at the year end.

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.

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

All fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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 profit or loss in the period to which they relate.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual

arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any

contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with

the lessor are charged against profits on a straight line basis over the period of the lease.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2016 - 14 ) .

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

358

61,357

71,189

132,904

Additions

-

351

-

351

At 31 March 2017

358

61,708

71,189

133,255

DEPRECIATION

At 1 April 2016

127

36,456

38,868

75,451

Charge for year

66

3,913

7,270

11,249

At 31 March 2017

193

40,369

46,138

86,700

NET BOOK VALUE

At 31 March 2017

165

21,339

25,051

46,555

At 31 March 2016

231

24,901

32,321

57,453

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

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

61,385

DEPRECIATION

At 1 April 2016

29,306

Charge for year

7,209

At 31 March 2017

36,515

NET BOOK VALUE

At 31 March 2017

24,870

At 31 March 2016

32,079

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

140,146

147,834

Other debtors

60,321

59,274

200,467

207,108

Included in other debtors is £15,454 (2016: £2,738) in relation to prepayments and accrued income.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

133,714

3,636

Hire purchase contracts

12,610

13,713

Trade creditors

228,450

256,560

Taxation and social security

49,670

68,882

Other creditors

67,685

70,428

492,129

413,219

Included in other creditors is £10,632 (2016: £16,244) in relation to accruals and deferred income.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

11,630

16,974

Other creditors

-

15,000

11,630

31,974

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

133,714

3,636

Hire purchase contracts

24,240

30,687

157,954

34,323

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary A

£1

1

1

45

Ordinary B

£1

45

45

5

Ordinary C

£1

5

5

5

Ordinary D

£1

5

5

1

Ordinary E

£1

1

1

5

Ordinary F

£1

5

-

62

57

The following shares were issued during the year for cash at par :

5 Ordinary F shares of £1

11.	OTHER FINANCIAL COMMITMENTS

Total future financial commitments, guarantees and contingencies whish are not included in the balance sheet

amount to £283,825 (2016: £335,800).

This amount is in relation to operating lease commitments which are payable over the next 7 years.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mr C J Richmond

Balance outstanding at start of year

33,952

34,875

Amounts advanced

3,899

17,077

Amounts repaid

(16,497

)

(18,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,354

33,952

Mr M J Richmond

Balance outstanding at start of year

16,753

34,734

Amounts advanced

14,231

976

Amounts repaid

(8,000

)

(18,957

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

22,984

16,753

These loans were unsecured with interest charged at HMRC approved rate. The loan was repaid on 6th April

2017.