REGISTERED NUMBER: 07129537 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

ABL PORTSMOUTH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S E Morriss

D Morriss

J Radford

G M Roberts

D E Taylor

REGISTERED OFFICE:

42-44 Holmethorpe Avenue

Holmethorpe Industrial Estate

Redhill

Surrey

RH1 2NL

REGISTERED NUMBER:

07129537 (England and Wales)

AUDITORS:

John Williams and Co

Chartered Accountants

Statutory Auditors

Chart House

2 Effingham Road

Reigate

Surrey

RH2 7JN

FIXED ASSETS

Tangible assets

3

157,686

187,097

CURRENT ASSETS

Stocks

4

35,918

27,834

Debtors

5

482,741

784,444

Cash at bank and in hand

62,066

93,245

580,725

905,523

CREDITORS

Amounts falling due within one year

6

278,797

737,890

NET CURRENT ASSETS

301,928

167,633

TOTAL ASSETS LESS CURRENT LIABILITIES

459,614

354,730

CREDITORS

Amounts falling due after more than one year

7

(23,599

)

(47,399

)

PROVISIONS FOR LIABILITIES

10

(27,635

)

(37,420

)

NET ASSETS

408,380

269,911

CAPITAL AND RESERVES

Called up share capital

11

1

1

Retained earnings

12

408,379

269,910

SHAREHOLDERS' FUNDS

408,380

269,911

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 6 July 2018 and were signed on its behalf by:

D Morriss - Director

1.	STATUTORY INFORMATION

ABL Portsmouth 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.

Turnover

Turnover represents net invoiced value of services performed derived from ordinary activities, stated after trade

discounts and net of value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful

life or, if held under a finance lease, over the lease term, whichever is the shorter.

Leasehold property

- 10 - 20% on cost

Plant and machinery

- 10-20% on cost

Motor vehicles

- 15% on cost

Fixtures and fittings

- 10-30% on cost

Computer equipment

- 30% on cost

Stocks and work-in-progress

Stocks and work-in-progress is 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 balance sheet date.

Deferred tax

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

sheet 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1 January 2017

2,399

258,193

14,744

Additions

-

799

-

At 31 December 2017

2,399

258,992

14,744

DEPRECIATION

At 1 January 2017

720

103,129

4,559

Charge for year

240

25,358

1,469

At 31 December 2017

960

128,487

6,028

NET BOOK VALUE

At 31 December 2017

1,439

130,505

8,716

At 31 December 2016

1,679

155,064

10,185

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2017

19,275

17,564

312,175

Additions

-

2,373

3,172

At 31 December 2017

19,275

19,937

315,347

DEPRECIATION

At 1 January 2017

2,891

13,779

125,078

Charge for year

2,891

2,625

32,583

At 31 December 2017

5,782

16,404

157,661

NET BOOK VALUE

At 31 December 2017

13,493

3,533

157,686

At 31 December 2016

16,384

3,785

187,097

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

£

COST

At 1 January 2017

and 31 December 2017

120,000

DEPRECIATION

At 1 January 2017

24,000

Charge for year

12,000

At 31 December 2017

36,000

NET BOOK VALUE

At 31 December 2017

84,000

At 31 December 2016

96,000

4.

STOCKS

2017

2016

£

£

Stocks and work-in-progress

35,918

27,834

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

21,476

76,913

Amounts owed by group undertakings

364,407

658,428

Other debtors

3,259

-

Prepayments and accrued income

93,599

49,103

482,741

784,444

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 8)

23,799

21,769

Trade creditors

127,592

106,568

Amounts owed to group undertakings

-

520,874

Tax

37,276

12,260

VAT

27,677

33,967

Other creditors

6,638

3,697

Accrued expenses

55,815

38,755

278,797

737,890

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts (see note 8)

23,599

47,399

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2017

2016

£

£

Gross obligations repayable:

Within one year

26,760

26,760

Between one and five years

24,530

51,290

51,290

78,050

Finance charges repayable:

Within one year

2,961

4,991

Between one and five years

931

3,891

3,892

8,882

Net obligations repayable:

Within one year

23,799

21,769

Between one and five years

23,599

47,399

47,398

69,168

Non-cancellable operating

leases

2017

2016

£

£

Within one year

64,397

64,397

Between one and five years

257,588

257,588

In more than five years

123,428

187,825

445,413

509,810

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Hire purchase contracts

47,398

69,168

The outstanding balance on the hire purchase agreement is secured over the asset which was purchased under the

agreement.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

27,635

37,420

Deferred

tax

£

Balance at 1 January 2017

37,420

Accelerated capital allowances

(9,785

)

Balance at 31 December 2017

27,635

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

1

Ordinary

£1

1

1

12.

RESERVES

Retained

earnings

£

At 1 January 2017

269,910

Profit for the year

138,469

At 31 December 2017

408,379

13.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

J R Williams (Senior Statutory Auditor)

for and on behalf of John Williams and Co

14.	RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Auto Body Language Limited is wholly owned by ABL Accident Repair Group Limited. ABL Accident Repair

Group Limited draw up consolidated financial statements for the group.

The parent's registered office is:

42-44 Holmethorpe Avenue

Holmethorpe Industrial Estate

Redhill

Surrey

RH1 2NL

15.	APB ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns

to the tax authorities and assist with the preparation of the financial statements.

16.	ULTIMATE CONTROLLING PARTY