Able Engineering (Midlands) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04165570 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABLE ENGINEERING (MIDLANDS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M J Howdle

N Parker

SECRETARY:

M J Howdle

REGISTERED OFFICE:

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

BUSINESS ADDRESS:

Unit 32, Gelders Hall Road

Shepshed

Leicester

Leicestershire

LE12 9NH

REGISTERED NUMBER:

04165570 (England and Wales)

ACCOUNTANTS:

Lemans

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Tangible assets

4

78,590

49,230

CURRENT ASSETS

Stocks

29,489

29,212

Debtors

5

64,484

50,708

Cash at bank and in hand

4,532

4

98,505

79,924

CREDITORS

Amounts falling due within one year

6

73,056

66,056

NET CURRENT ASSETS

25,449

13,868

TOTAL ASSETS LESS CURRENT
LIABILITIES

104,039

63,098

CREDITORS

Amounts falling due after more than one
year

7

-

(2,917

)

PROVISIONS FOR LIABILITIES

(14,932

)

(9,846

)

NET ASSETS

89,107

50,335

CAPITAL AND RESERVES

Called up share capital

8

2

Retained earnings

89,105

50,333

SHAREHOLDERS' FUNDS

89,107

50,335

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 8 November 2017 and were signed on its behalf
by:

M J Howdle - Director

N Parker - Director

1.	STATUTORY INFORMATION

Able Engineering (Midlands) 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.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2016 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

COST

At 1 April 2016

72,235

6,501

42,395

121,131

Additions

47,888

-

47,888

Disposals

(5,375

)

-

(5,375

)

At 31 March 2017

114,748

6,501

42,395

163,644

DEPRECIATION

At 1 April 2016

45,365

5,505

21,031

71,901

Charge for year

10,910

249

5,342

16,501

Eliminated on disposal

(3,348

)

-

(3,348

)

At 31 March 2017

52,927

5,754

26,373

85,054

NET BOOK VALUE

At 31 March 2017

61,821

747

16,022

78,590

At 31 March 2016

26,870

996

21,364

49,230

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Trade debtors

64,484

48,856

Prepayments

-

1,852

64,484

50,708

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

Bank loans and overdrafts

3,768

6,554

Trade creditors

20,150

19,782

Corporation tax

10,102

5,357

Social security and other taxes

19,755

14,839

Directors' current accounts

14,253

17,753

Accrued expenses

5,028

1,771

73,056

66,056

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.17

31.3.16

£

Bank loans

-

2,917

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

1

Ordinary A

£1

1

Ordinary B

£1

1

2

9.	FIRST YEAR ADOPTION OF FRS 102 (SECTION 1A)

The policies applied under the entity's previous accounting framework are not materially different to FRS 102

and have not impacted on equity or profit or loss.