ABLE FINANCE AND LOANS LIMITED

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 5782762

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	6		22,500		22,500
Tangible Assets	7		2,993		3,164

			25,493		25,664
CURRENT ASSETS
Debtors	8	86,789		60,191
Cash at bank and in hand		7,630		9,582

		94,419		69,773
Creditors: Amounts Falling Due Within One Year	9	(88,069 )		(69,006 )

NET CURRENT ASSETS (LIABILITIES)			6,350		767

TOTAL ASSETS LESS CURRENT LIABILITIES			31,843		26,431

NET ASSETS			31,843		26,431

CAPITAL AND RESERVES
Called up share capital	10		2		2
Profit and loss account			31,841		26,429

SHAREHOLDERS' FUNDS			31,843		26,431

Page 1

Balance Sheet (continued)

As at 31 March 2017

For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

On behalf of the board

Mr PAUL MAYWOOD

16/05/2017

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 April 2015	2	8,743	8,745
Profit for the year and total comprehensive income	-	17,686	17,686

As at 31 March 2016 and 1 April 2016	2	26,429	26,431


Profit for the year and total comprehensive income	-	15,412	15,412

Dividends paid	-	(10,000)	(10,000)

As at 31 March 2017	2	31,841	31,843

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

15%

1.4. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

3. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2017	2016
	£	£
Wages and salaries	54,796	45,600

	54,796	45,600

4. Average number of employees

Average number of employees, including directors, during the year was as follows:

	2017		2016

6. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2016	22,500

As at 31 March 2017	22,500

Net Book Value
As at 31 March 2017	22,500

As at 1 April 2016	22,500

Page 4

ABLE FINANCE AND LOANS LIMITED

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

7. Tangible Assets


	Plant & Machinery
	£
Cost
As at 1 April 2016	12,534
Additions	579

As at 31 March 2017	13,113

Depreciation
As at 1 April 2016	9,370
Provided during the period	750

As at 31 March 2017	10,120

Net Book Value
As at 31 March 2017	2,993

As at 1 April 2016	3,164

8. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	86,789	60,191

	86,789	60,191

9. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Corporation tax (Current liabilities - creditors < 1 year)	3,781	4,285
Other taxes and social security (Current liabilities - creditors < 1 year)	130	-
Accruals and deferred income (Current liabilities - creditors < 1 year)	1,512	1,512
Director's loan account	82,646	63,209

	88,069	69,006

10. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	2	2	2

11. Transactions With and Loans to Directors

Dividends paid to directors

Page 5

ABLE FINANCE AND LOANS LIMITED

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 March 2017

12. Dividends

	2017	2016
	£	£
On equity shares:
Final dividend paid	10,000	-

	10,000	-

13. Ultimate Controlling Party

The company's ultimate controlling party is by virtue of his ownership of 100% of the issued share capital in the company.

14. General Information

ABLE FINANCE AND LOANS LIMITED Registered number 5782762 is a limited by shares company incorporated in England & Wales. The Registered Office is 22 GUILDHALL STREET, GRANTHAM, LINCS, NG31 6NJ.