REGISTERED NUMBER: 06802624

Unaudited Financial Statements for the Year Ended 31 January 2017

for

Able IT Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

W Lewis

REGISTERED OFFICE:

Spindlewood

Swan Lane

Edenbridge

Kent

TN8 6AJ

REGISTERED NUMBER:

06802624

ACCOUNTANTS:

Deeks Evans

Chartered Accountants

3 Boyne Park

Tunbridge Wells

Kent

TN4 8EN

FIXED ASSETS

Tangible assets

3

354

531

CURRENT ASSETS

Debtors

4

8,800

6,971

Cash at bank

177,653

274,459

186,453

281,430

CREDITORS

Amounts falling due within one year

5

14,944

36,647

NET CURRENT ASSETS

171,509

244,783

TOTAL ASSETS LESS CURRENT LIABILITIES

171,863

245,314

CAPITAL & RESERVES

Called up share capital

6

1,000

1,000

Retained earnings

170,863

244,314

SHAREHOLDERS' FUNDS

171,863

245,314

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 7 September 2017 and were signed by:

W Lewis - Director

1.	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.

Computer equipment

-

33% on cost

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.

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.

2.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

3.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 February 2016

and 31 January 2017

2,212

DEPRECIATION

At 1 February 2016

1,681

Charge for year

177

At 31 January 2017

1,858

NET BOOK VALUE

At 31 January 2017

354

At 31 January 2016

531

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,800

6,971

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

659

660

HSBC credit card

231

24

Corporation tax

-

19,276

Social security & other taxes

4,211

6,887

Directors' current accounts

7,170

6,895

Accrued expenses

2,673

2,905

14,944

36,647

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1,000

Ordinary

£1

1,000

1,000

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £64,000 were paid to the director .