REGISTERED NUMBER: 07210421 (England and Wales)

ABLEWORLD FRANCHISE LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J C Williams

Ms A Fraser

P W Boniface

N D Cox

SECRETARY:

N D Cox

REGISTERED OFFICE:

C/O Ableworld Alpha Building

Stapeley Technology Park

London Road

Nantwich

Cheshire

CW5 7JW

REGISTERED NUMBER:

07210421 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,823

2,871

CURRENT ASSETS

Debtors

5

469,667

215,310

Cash at bank

49,301

63,784

518,968

279,094

CREDITORS

Amounts falling due within one year

6

(240,839

)

(167,004

)

NET CURRENT ASSETS

278,129

112,090

TOTAL ASSETS LESS CURRENT LIABILITIES

279,952

114,961

PROVISIONS FOR LIABILITIES

(346

)

(545

)

NET ASSETS

279,606

114,416

CAPITAL AND RESERVES

Called up share capital

7

200

200

Retained earnings

279,406

114,216

SHAREHOLDERS' FUNDS

279,606

114,416

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 21 May 2018 and were signed on its behalf by:

N D Cox - Director

1.	STATUTORY INFORMATION

Ableworld Franchise 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.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from franchise fees and monthly

management and advertising fees is recognised by reference to the stage of completion at the balance sheet

date. Stage of completion is measured by monthly franchise sales. Where the outcome cannot be measured

reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

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 etc

-

33% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account,

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.

Leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that

service. The company operates a defined contribution plan for the benefit of its employees. Contributions are

expensed as they become payable.

Purchase rebates

Rebates are recognised in the financial statements when it is virtually certain they are due and payable.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2016

and 31 August 2017

3,141

DEPRECIATION

At 1 September 2016

270

Charge for year

1,048

At 31 August 2017

1,318

NET BOOK VALUE

At 31 August 2017

1,823

At 31 August 2016

2,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

177,925

138,049

Amounts owed by group undertakings

216,368

52,732

Other debtors

17,760

24,529

VAT

1,284

-

Prepayments and accrued income

56,330

-

469,667

215,310

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

24,438

29,166

Amounts owed to group undertakings

205,988

85,633

Tax

1,881

7,065

VAT

-

34,167

Other creditors

3,351

9,098

Accrued expenses

5,181

1,875

240,839

167,004

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

200

Ordinary

£1

200

200

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006