REGISTERED NUMBER: 06653755 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2017

for

AB Wire Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs C M Brown

A H Brown

REGISTERED OFFICE:

Prydis Accounts Ltd

The Parade

Liskeard

Cornwall

PL14 6AF

REGISTERED NUMBER:

06653755 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,802

1,565

1,802

1,565

CURRENT ASSETS

Debtors

6

85,273

81,593

Cash at bank and in hand

75,868

41,410

161,141

123,003

CREDITORS

Amounts falling due within one year

7

25,643

19,280

NET CURRENT ASSETS

135,498

103,723

TOTAL ASSETS LESS CURRENT LIABILITIES

137,300

105,288

PROVISIONS FOR LIABILITIES

342

190

NET ASSETS

136,958

105,098

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

136,858

104,998

SHAREHOLDERS' FUNDS

136,958

105,098

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2017 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and Loss has not been delivered.

The financial statements were approved by the Board of Directors on 26 February 2018 and were signed on its behalf by:

A H Brown - Director

1.	STATUTORY INFORMATION

AB Wire 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.	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 as modified by the revaluation of certain assets.

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the

company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been amortised

evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

Foreign currencies

Assets, liabilities and transactions in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date.

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 2 (2016 - 2 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 31 July 2017

38,500

AMORTISATION

At 1 August 2016

and 31 July 2017

38,500

NET BOOK VALUE

At 31 July 2017

-

At 31 July 2016

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

4,073

Additions

841

At 31 July 2017

4,914

DEPRECIATION

At 1 August 2016

2,508

Charge for year

604

At 31 July 2017

3,112

NET BOOK VALUE

At 31 July 2017

1,802

At 31 July 2016

1,565

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Amounts recoverable on contract

22,107

19,118

Other debtors

63,166

62,475

85,273

81,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Taxation and social security

24,194

17,831

Other creditors

1,449

1,449

25,643

19,280

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2017 and

31 July 2016:

31.7.17

31.7.16

£

£

A H Brown and Mrs C M Brown

Balance outstanding at start of year

13,172

12,890

Amounts advanced

122,455

81,492

Amounts repaid

(73,749

)

(81,210

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

61,878

13,172

9.	FIRST YEAR ADOPTION

The company has transitioned to FRS 102 from previously being prepared under the historical cost convention

and in accordance with the Financial Reporting Standards for Smaller Entities (effective April 2008) as at 1st

August 2016.

The impact from transition has been reviewed for transitional adjustments, of which there are none.