REGISTERED NUMBER: 00810454 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2017

for

ABM Precisions (Nuneaton) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I Woods

REGISTERED OFFICE:

Ansley Hall

Nuneaton

Warwickshire

CV10 0QN

REGISTERED NUMBER:

00810454 (England and Wales)

ACCOUNTANTS:

Primary Numbers Limited

Chartered Certified Accountants

31 Dunns Close

Nuneaton

Warwickshire

CV11 4NF

FIXED ASSETS

Tangible assets

4

114,702

127,083

CURRENT ASSETS

Stocks

226,740

220,903

Debtors

5

335,724

376,872

Prepayments and accrued income

14,736

14,401

Cash at bank and in hand

9,780

2,113

586,980

614,289

CREDITORS

Amounts falling due within one year

6

286,484

330,629

NET CURRENT ASSETS

300,496

283,660

TOTAL ASSETS LESS CURRENT LIABILITIES

415,198

410,743

PROVISIONS FOR LIABILITIES

13,846

13,846

NET ASSETS

401,352

396,897

CAPITAL AND RESERVES

Called up share capital

1,230

1,230

Retained earnings

400,122

395,667

SHAREHOLDERS' FUNDS

401,352

396,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 26 September 2017 and were signed by:

I Woods - Director

1.	STATUTORY INFORMATION

ABM Precisions (Nuneaton) 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33% on reducing balance, 25% on reducing balance and 10% on reducing balance

Fixtures and fittings

-

25% on reducing balance and 15% 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 July 2016

32,816

1,405,464

86,986

8,500

1,533,766

Additions

-

2,874

1,475

-

4,349

At 30 June 2017

32,816

1,408,338

88,461

8,500

1,538,115

DEPRECIATION

At 1 July 2016

1,968

1,324,095

72,853

7,767

1,406,683

Charge for year

656

12,719

3,172

183

16,730

At 30 June 2017

2,624

1,336,814

76,025

7,950

1,423,413

NET BOOK VALUE

At 30 June 2017

30,192

71,524

12,436

550

114,702

At 30 June 2016

30,848

81,369

14,133

733

127,083

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

Plant and

machinery

£

COST

At 1 July 2016

50,875

Transfer to ownership

(50,875

)

At 30 June 2017

-

DEPRECIATION

At 1 July 2016

27,600

Transfer to ownership

(27,600

)

At 30 June 2017

-

NET BOOK VALUE

At 30 June 2017

-

At 30 June 2016

23,275

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Trade debtors

248,286

245,279

Amounts owed by group undertakings

41,774

100,774

Amounts recoverable on contract

44,727

29,881

Other debtors

937

938

335,724

376,872

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.17

30.6.16

£

£

Bank loans and overdrafts

4,644

40,990

Hire purchase contracts

-

5,711

Trade creditors

54,573

45,772

Taxation and social security

41,399

32,071

Other creditors

185,868

206,085

286,484

330,629

7.	SECURED DEBTS

The following secured debts are included within creditors:

30.6.17

30.6.16

£

£

Bank overdrafts

4,644

40,990

Hire purchase contracts

-

5,711

4,644

46,701

Invoice financing is secured against the book debts of the company.

Hire purchase liabilities are secured against the individual assets.

Bank loan is secured by a fixed and floating charge.

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2017 and

30 June 2016:

30.6.17

30.6.16

£

£

I Woods

Balance outstanding at start of year

(7,904

)

(11,460

)

Amounts advanced

2,000

3,556

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(5,904

)

(7,904

)

9.	ULTIMATE CONTROLLING PARTY

The company is controlled by its director.