REGISTERED NUMBER: 05537637 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Ability Supplies UK Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

O Sanderson

Mrs N Sanderson

SECRETARY:

Mrs N Sanderson

REGISTERED OFFICE:

5 Frontier Court

Claymere Road

Leechmere Industrial Estate

Sunderland

Tyne and Wear

SR2 9TX

REGISTERED NUMBER:

05537637 (England and Wales)

ACCOUNTANTS:

TTR Barnes Limited

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Intangible assets

4

45,000

49,500

Tangible assets

5

28,909

34,724

Investments

6

2,769

2,769

76,678

86,993

CURRENT ASSETS

Stocks

356,257

401,734

Debtors

7

489,244

272,547

Cash at bank and in hand

324,754

419,523

1,170,255

1,093,804

CREDITORS

Amounts falling due within one year

8

136,559

323,984

NET CURRENT ASSETS

1,033,696

769,820

TOTAL ASSETS LESS CURRENT LIABILITIES

1,110,374

856,813

PROVISIONS FOR LIABILITIES

88,910

4,911

NET ASSETS

1,021,464

851,902

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,021,364

851,802

SHAREHOLDERS' FUNDS

1,021,464

851,902

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 20 December 2017 and were signed on its behalf by:

O Sanderson - Director

1.	STATUTORY INFORMATION

Ability Supplies UK 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.

The financial statement have been prepared on the going concern basis, which assumes that the company will

continue in operational existence for the foreseeable future, which the director considers appropriate.

Reconciliation with previous generally accepted accounting practice

These financial statements for the year ended 31st March 2017 are the first financial statements that comply with

FRS 102 Section 1a "Small Entities" - "The Financial Reporting Standard applicable in the UK and Republic of

Ireland". The date of transition is 1st April 2015. In preparing the financial statements, the directors have

considered whether in applying the accounting policies required by FRS102 Section 1a "Small Entities", the

restatement of comparative items was required. The transition to FRS102 Section 1a "Small Entities" has not

resulted in any changes to accounting policies used.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of the business, is being amortised evenly

over its estimated useful life of twenty 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.

Improvements to property

-

10% on cost

Fixtures and fittings

-

25% straight line

Motor vehicles

-

25% straight line

Computer equipment

-

33% on cost

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net

realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow

moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial

instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their

settlement value.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

90,000

AMORTISATION

At 1 April 2016

40,500

Amortisation for year

4,500

At 31 March 2017

45,000

NET BOOK VALUE

At 31 March 2017

45,000

At 31 March 2016

49,500

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

Computer

property

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2016

19,632

141,186

10,250

17,848

188,916

Additions

-

7,976

-

1,176

9,152

At 31 March 2017

19,632

149,162

10,250

19,024

198,068

DEPRECIATION

At 1 April 2016

11,778

117,931

9,358

15,125

154,192

Charge for year

1,963

10,515

563

1,926

14,967

At 31 March 2017

13,741

128,446

9,921

17,051

169,159

NET BOOK VALUE

At 31 March 2017

5,891

20,716

329

1,973

28,909

At 31 March 2016

7,854

23,255

892

2,723

34,724

6.	FIXED ASSET INVESTMENTS

Own

shares

£

COST

At 1 April 2016

and 31 March 2017

2,769

NET BOOK VALUE

At 31 March 2017

2,769

At 31 March 2016

2,769

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

8,808

12,724

Amounts owed by group undertakings

469,477

255,170

Other debtors

6,429

-

Prepayments

4,530

4,653

489,244

272,547

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

95,582

112,676

Taxation

-

80,602

Social security and other taxes

3,499

33,155

Directors' current accounts

27,987

89,332

Accrued expenses

9,491

8,219

136,559

323,984

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

100

Ordinary

£1

100

100

10.	ULTIMATE CONTROLLING PARTY

The controlling party is O Sanderson.

11.	FIRST YEAR ADOPTION

Upon the adoption of FRS102 there have been no transitional adjustments to the financial statements and has not

taken advantage of any transitional reliefs.