REGISTERED NUMBER: 03900262 (England and Wales)

ABACUS CASH REGISTERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M P Pearce

REGISTERED OFFICE:

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

REGISTERED NUMBER:

03900262 (England and Wales)

ACCOUNTANTS:

Phoenix Business Associates Limited

Chartered Certified Accountants

The Riding School House

Bulls Lane

Wishaw

Sutton Coldfield

West Midlands

B76 9QW

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

745

994

745

994

CURRENT ASSETS

Stocks

1,500

1,500

Debtors

6

1,297

4,397

Cash at bank and in hand

10,958

12,219

13,755

18,116

CREDITORS

Amounts falling due within one year

7

11,010

18,203

NET CURRENT ASSETS/(LIABILITIES)

2,745

(87

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,490

907

PROVISIONS FOR LIABILITIES

149

200

NET ASSETS

3,341

707

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

9

3,241

607

SHAREHOLDERS' FUNDS

3,341

707

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director on 3 August 2017 and were signed by:

M P Pearce - Director

1.	STATUTORY INFORMATION

Abacus Cash Registers 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 statements been prepared on the going concern basis which assumes that the Company

will be able to continue to trade for the foreseeable future. The Company's forecasts and projections

show that the Company should be able to operate throughout a period of twelve months from date of

approval of these financial statements. The Director therefore considers it appropriate to prepare the

financial statements on a going concern basis.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Goodwill

Purchased goodwill is written off in full to the profit and loss account in the year of acquisition.

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.

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

1,000

AMORTISATION

At 1 January 2016

and 31 December 2016

1,000

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2016

and 31 December 2016

9,935

6,664

16,599

DEPRECIATION

At 1 January 2016

8,941

6,664

15,605

Charge for year

249

-

249

At 31 December 2016

9,190

6,664

15,854

NET BOOK VALUE

At 31 December 2016

745

-

745

At 31 December 2015

994

-

994

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

1,004

2,932

Other debtors

293

1,465

1,297

4,397

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade creditors

-

2,458

Taxation and social security

5,752

5,462

Other creditors

5,258

10,283

11,010

18,203

The directors loan account is not subject to any formal loan agreement and is therefore deemed to be

repayable on demand.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Retained

earnings

£

At 1 January 2016

607

Profit for the year

17,634

Dividends

(15,000

)

At 31 December 2016

3,241

10.	RELATED PARTY DISCLOSURES

During the year, total dividends of £15,000 (2015 - £15,000) were paid to the director .

The amount owed to M P Pearce at 31st December 2016 was £380 ( 2015 : £7,321).

11.	ULTIMATE CONTROLLING PARTY

The controlling party is M P Pearce.

12.	FIRST YEAR ADOPTION

These are the first financial statements produced by the company under Financial Reporting Standard

102 Section 1A (applicable to small entities).

The Director has assessed all accounting policies with reference to the new reporting standard and

has confirmed that there are no transitional adjustments arising as a result of any of the entity's

accounting policies.