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Able Holdings Limited

Unaudited Financial Statements

for the Year Ended 31 July 2017

Alextra Group Ltd
Chartered Certified Accountants
7-9 Macon Court
Herald Drive
Crewe
Cheshire
CW1 6EA

Able Holdings Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Able Holdings Limited

(Registration number: 04631792)
Balance Sheet as at 31 July 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	5	15,972	20,627
Investments	6	201	201
		16,173	20,828
Current assets
Debtors	7	256,902	150,182
Cash at bank and in hand		504,476	417,226
		761,378	567,408
Creditors: Amounts falling due within one year	8	(186,642)	(168,457)
Net current assets		574,736	398,951
Total assets less current liabilities		590,909	419,779
Provisions for liabilities		(938)	(1,689)
Net assets		589,971	418,090
Capital and reserves
Called up share capital		4	4
Capital redemption reserve		1	1
Profit and loss account		589,966	418,085
Total equity		589,971	418,090

For the financial year ending 31 July 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Able Holdings Limited

(Registration number: 04631792)
Balance Sheet as at 31 July 2017

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account and Director's Report has been taken.

Approved and authorised by the director on 11 April 2018
 

Ms L Hughes

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Able Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

1	General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
Petre House
Petre Street
Sheffield
Yorkshire
S4 8LT

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and computer equipment	15% reducing balance
Motor vehicles	25% reducing balance

Page 3

Able Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Amortised over its estimated useful life of ten years.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2016 - 3).

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 August 2016	2,000	2,000
At 31 July 2017	2,000	2,000
Amortisation
At 1 August 2016	2,000	2,000
At 31 July 2017	2,000	2,000
Carrying amount
At 31 July 2017	-	-

Page 4

Able Holdings Limited

Notes to the Financial Statements for the Year Ended 31 July 2017

5	Tangible assets

	Fixtures, fittings and computer equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2016	24,474	17,409	41,883
Additions	1,653	-	1,653
Disposals	(8,665)	-	(8,665)
At 31 July 2017	17,462	17,409	34,871
Depreciation
At 1 August 2016	15,235	6,021	21,256
Charge for the year	1,312	2,847	4,159
Eliminated on disposal	(6,516)	-	(6,516)
At 31 July 2017	10,031	8,868	18,899
Carrying amount
At 31 July 2017	7,431	8,541	15,972
At 31 July 2016	9,239	11,388	20,627

6	Investments

	2017 £	2016 £
Investments in subsidiaries	201	201