REGISTERED NUMBER: SC194895 (Scotland)

Unaudited Financial Statements

for the Year Ended 30 June 2017

for

ABLE TECHNOLOGIES LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTORS:

J Duncan

Mrs A Stuart

REGISTERED OFFICE:

269 Holburn Street

Aberdeen

AB10 7FL

REGISTERED NUMBER:

SC194895 (Scotland)

ACCOUNTANTS:

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

FIXED ASSETS

Tangible assets

4

1,748

1,074

CURRENT ASSETS

Stocks

-

1,914

Debtors

5

3,280

5,748

Cash at bank

40,147

36,475

43,427

44,137

CREDITORS

Amounts falling due within one year

6

12,128

46,552

NET CURRENT ASSETS/(LIABILITIES)

31,299

(2,415

)

TOTAL ASSETS LESS CURRENT LIABILITIES

33,047

(1,341

)

PROVISIONS FOR LIABILITIES

209

215

NET ASSETS/(LIABILITIES)

32,838

(1,556

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

32,738

(1,656

)

SHAREHOLDERS' FUNDS

32,838

(1,556

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 27 March 2018 and were signed on its behalf by:

J Duncan - Director

1.	STATUTORY INFORMATION

Able Technologies Limited is a private company, limited by shares , registered in Scotland. The company's registered

number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements for the year ended 30 June 2017 are the first set of financial statements that comply with FRS 102.

The date of transition is 01 July 2015.

The transition to FRS 102 has resulted in a small number of changes in accounting policies to those used previously, this has

not impacted on opening equity or profit for the comparative period.

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.

Fixtures and fittings

-

25% on cost

Computer equipment

-

33% on cost

The assets' residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period.

The effect of any change is accounted for prospectively.

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 July 2016

-

4,544

4,544

Additions

659

726

1,385

Disposals

-

(1,948

)

(1,948

)

At 30 June 2017

659

3,322

3,981

DEPRECIATION

At 1 July 2016

-

3,470

3,470

Charge for year

82

580

662

Eliminated on disposal

-

(1,899

)

(1,899

)

At 30 June 2017

82

2,151

2,233

NET BOOK VALUE

At 30 June 2017

577

1,171

1,748

At 30 June 2016

-

1,074

1,074

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

2,429

4,860

Other debtors

851

888

3,280

5,748

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

381

77

Taxation and social security

7,476

1,562

Other creditors

4,271

44,913

12,128

46,552

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary share

1

100

100

8.

RESERVES

Retained

earnings

£

At 1 July 2016

(1,656

)

Profit for the year

34,394

At 30 June 2017

32,738

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following loans advances and credits from a director subsisted during the years ended 30 June 2017 and 30 June 2016:

2017

2016

£

£

J Duncan

Balance outstanding at start of year

3,084

1,874

Amounts advanced

342

1,210

Amounts repaid

(2,393

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

1,033

3,084

10.	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 January 2015) as at 1st July 2015.

Reconciliation of equity

No transitional adjustments were required

Reconciliation of profit or loss for the year

No transitional adjustments were required

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited

financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of

Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements

and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Statement of Financial Position you are responsible for the preparation of the financial statements for the year ended 30 June 2017 set out on pages three to seven and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Acumen Accountants and Advisors Limited

Bankhead Drive

City South Office Park

Portlethen

Aberdeenshire

AB12 4XX

28 March 2018