A.B.B.S.Electrical Wholesale Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 962571

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		26,591		32,042

			26,591		32,042
CURRENT ASSETS
Stocks	6	84,742		85,004
Debtors	7	98,843		101,853
Cash at bank and in hand		31,386		49,429

		214,971		236,286
Creditors: Amounts Falling Due Within One Year	8	(101,679 )		(111,262 )

NET CURRENT ASSETS (LIABILITIES)			113,292		125,024

TOTAL ASSETS LESS CURRENT LIABILITIES			139,883		157,066

Creditors: Amounts Falling Due After More Than One Year	9		-		(7,195 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(1,310 )		(537 )

NET ASSETS			138,573		149,334

CAPITAL AND RESERVES
Called up share capital	12		500		500
Profit and Loss Account			138,073		148,834

SHAREHOLDERS' FUNDS			138,573		149,334

Page 1

Balance Sheet (continued)

As at 31 December 2017

For the year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mrs Barbara Birtle	Mr Stephen Mapplebeck
31 August 2018

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Income is recognised when goods have been delivered to customers such that risks and regards of ownership have transferred to them.

1.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	10% on cost
Motor Vehicles	20% on cost

1.4. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under hire purchase contracts are depreciated over their useful lives.

1.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.6. Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Page 3

A.B.B.S.Electrical Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

1.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

2. Average Number of Employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	6	5

	6	5

5. Tangible Assets


	Plant & Machinery	Motor Vehicles	Total
	£	£	£
Cost
As at 1 January 2017	7,513	41,950	49,463
Additions	2,349	-	2,349

As at 31 December 2017	9,862	41,950	51,812

Depreciation
As at 1 January 2017	4,166	13,255	17,421
Provided during the period	1,900	5,900	7,800

As at 31 December 2017	6,066	19,155	25,221

Net Book Value
As at 31 December 2017	3,796	22,795	26,591

As at 1 January 2017	3,347	28,695	32,042

6. Stocks

	2017	2016
	£	£
Stock - materials and work in progress	84,742	85,004

	84,742	85,004

Page 4

A.B.B.S.Electrical Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

7. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	81,003	91,864
Prepayments and accrued income	14,618	9,789
Other debtors	-	200
Deferred tax current asset	3,222	-

	98,843	101,853

8. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	7,535	9,092
Trade creditors	69,247	83,523
Other taxes and social security	3,534	3,563
VAT	6,848	9,916
Other creditors	-	678
Accruals and deferred income	14,515	4,490

	101,679	111,262

9. Creditors: Amounts Falling Due After More Than One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	-	7,195

Page 5

A.B.B.S.Electrical Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2017

10. Obligations Under Finance Leases and Hire Purchase

	2017	2016
	£	£
The maturity of these amounts is as follows:
Amounts Payable:
Within one year	7,535	9,092
Between one and five years	-	7,195

	7,535	16,287

	7,535	16,287

11. Deferred Taxation

The provision for deferred taxation is made up of accelerated capital allowances and losses carried forward.

	2017	2016
	£	£
Deferred tax	1,310	537

	1,310	537

12. Share Capital

	2017		2016
Allotted, Called up and fully paid	500		500

13. Related Party Transactions

No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

14. Ultimate Controlling Party

The company's ultimate controlling party is Mrs J Rigby by virtue of her ownership of 60% of the issued share capital in the company.

15. General Information

A.B.B.S.Electrical Wholesale Limited is a private company, limited by shares, incorporated in England & Wales, registered number 962571. The registered office is 12 East Parade, Harrogate, North Yorkshire, HG1 5LT.