REGISTERED NUMBER: 03228121 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

A & B AIR SYSTEMS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R A Sankey

SECRETARY:

Mrs JD Sankey

REGISTERED OFFICE:

Unit 21

Abenbury Way

Wrexham Industrial Estate

Wrexham

LL13 9BZ

REGISTERED NUMBER:

03228121 (England and Wales)

ACCOUNTANTS:

Guy Walmsley Limited

Chartered Accountants

3 Grove Road

Wrexham

LL11 1DY

FIXED ASSETS

Tangible assets

4

44,081

42,034

CURRENT ASSETS

Stocks

123,888

74,766

Debtors

5

522,477

400,433

Cash at bank and in hand

606

312

646,971

475,511

CREDITORS

Amounts falling due within one year

6

675,814

514,285

NET CURRENT LIABILITIES

(28,843

)

(38,774

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,238

3,260

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

15,138

3,160

SHAREHOLDERS' FUNDS

15,238

3,260

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 29 May 2018 and were signed by:

R A Sankey - Director

1.	STATUTORY INFORMATION

A & B Air Systems 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.

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.

Tools & Equipment

-

15% on reducing balance

Office Equipment

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

Hire purchase and leasing commitments

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

lease.

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 19 .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Tools &

Office

Motor

property

Equipment

Equipment

vehicles

Totals

£

£

£

£

£

COST

At 1 September 2016

19,483

28,034

24,961

38,871

111,349

Additions

-

-

-

15,216

15,216

Disposals

-

-

-

(2,966

)

(2,966

)

At 31 August 2017

19,483

28,034

24,961

51,121

123,599

DEPRECIATION

At 1 September 2016

-

17,011

21,794

30,510

69,315

Charge for year

2,922

1,653

475

5,153

10,203

At 31 August 2017

2,922

18,664

22,269

35,663

79,518

NET BOOK VALUE

At 31 August 2017

16,561

9,370

2,692

15,458

44,081

At 31 August 2016

19,483

11,023

3,167

8,361

42,034

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Trade debtors

443,426

309,793

Other debtors

1,083

1,083

Prepayments

77,968

89,557

522,477

400,433

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.17

31.8.16

£

£

Bank loans and overdrafts

36,210

8,100

Trade creditors

237,718

173,072

Tax

19,138

13,693

Social security and other taxes

65,103

49,033

Other creditors

196,880

156,955

Accrued expenses

120,765

113,432

675,814

514,285

7.	RELATED PARTY DISCLOSURES

The following related party balances have been included in other creditors as at 31st August 2017:- A&B Hire

Limited £(258,742) (2016 £(218,742)) A&B Solutions Limited £59,334 (2016 £59,334) Smartclean Limited

£3,394 (2016 £3,394).