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REGISTERED NUMBER: 01992349 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2017

FOR

ABAS DRYLINING & CONSTRUCTION CO. LTD

ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABAS DRYLINING & CONSTRUCTION CO. LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2017







DIRECTOR: C V Agoston-Vas



REGISTERED OFFICE: 2 Barnfield Crescent
Exeter
Devon
EX1 1QT



REGISTERED NUMBER: 01992349 (England and Wales)



ACCOUNTANTS: Bush & Co Limited
2 Barnfield Crescent
Exeter
Devon
EX1 1QT



BANKERS: Lloyds TSB
High Street
Honiton
Devon
EX14 8JJ

ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349)

BALANCE SHEET
28 FEBRUARY 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 16,446 4,940

CURRENT ASSETS
Debtors 6 624,541 541,491
Cash at bank 52 52
624,593 541,543
CREDITORS
Amounts falling due within one year 7 91,781 64,852
NET CURRENT ASSETS 532,812 476,691
TOTAL ASSETS LESS CURRENT
LIABILITIES

549,258

481,631

PROVISIONS FOR LIABILITIES 3,116 236,865
NET ASSETS 546,142 244,766

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 546,042 244,666
SHAREHOLDERS' FUNDS 546,142 244,766

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 Profit & Loss has not been delivered.

The financial statements were approved by the director on 28 November 2017 and were signed by:




C V Agoston-Vas - Director


ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2017

1. STATUTORY INFORMATION

Abas Drylining & Construction Co. Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced work done during the year, excluding value added tax, adjusted to
reflect any un-invoiced work carried out on contracts and amounts held by contractors as retentions.
All work done is within Great Britain.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the period of lease
Equipment - 25% on cost

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2017

5. TANGIBLE FIXED ASSETS
Improvements
to
property Equipment Totals
£    £    £   
COST
At 29 February 2016 9,091 28,634 37,725
Additions - 17,255 17,255
At 28 February 2017 9,091 45,889 54,980
DEPRECIATION
At 29 February 2016 9,091 23,694 32,785
Charge for year - 5,749 5,749
At 28 February 2017 9,091 29,443 38,534
NET BOOK VALUE
At 28 February 2017 - 16,446 16,446
At 28 February 2016 - 4,940 4,940

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 121,214 44,615
Other debtors 481,606 455,023
Directors' current accounts 4,048 2,443
VAT 17,673 11,367
Retentions - 28,043
624,541 541,491

Retentions are paid up to two years after the main contractor has completed the site.The company has
no control over when a site will be completed and therefore it is not possible to separate retentions
between amounts due within and after one year. All retentions were received within 12 months of the
year end.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts 49,056 19,849
Trade creditors 29,997 37,771
Corporation tax 6,021 612
Social security and other taxes 273 273
Accruals 6,434 6,347
91,781 64,852

ABAS DRYLINING & CONSTRUCTION CO. LTD (REGISTERED NUMBER: 01992349)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2017

8. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank overdrafts 49,056 19,849

The bank holds an unlimited debenture dated 20 August 1990 as security against overdraft facilities
available to the company.

9. RELATED PARTY DISCLOSURES

During the year the company leased land and property from the director and his wife at a rent of
£5,200 p.a. (2016 £5,200).

10. ULTIMATE CONTROLLING PARTY

The company is controlled by the sole director who is also the sole shareholder.

11. FIRST YEAR ADOPTION

The date of transition for FRS 102 was 1 March 2015. There have been no adjustments made to any
balances on transition.