A.B.R._FABRICATIONS_LIMIT

A.B.R. FABRICATIONS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 SEPTEMBER 2015

- 1 -

2015

2014

Notes

Fixed assets

Tangible assets

540,106

616,368

Current assets

Stocks

32,978

33,651

Debtors

525,914

1,082,613

Cash at bank and in hand

453,646

319,723

1,012,538

1,435,987

Creditors: amounts falling due within one year

(1,037,084)

(1,361,343)

Net current (liabilities)/assets

(24,546)

74,644

Total assets less current liabilities

515,560

691,012

Creditors: amounts falling due after more than one year

(83,259)

(195,824)

Provisions for liabilities

(28,632)

(33,777)

Accruals and deferred income

(24,700)

(37,050)

378,969

424,361

Capital and reserves

Called up share capital

Other reserves

Profit and loss account

378,866

424,258

Shareholders' funds

378,969

424,361

A.B.R. FABRICATIONS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 SEPTEMBER 2015

- 2 -

For the financial year ended 30 September 2015 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 of its financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 30 June 2016

S Harrison

Director

Company Registration No. 03428169

A.B.R. FABRICATIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for specialist sheet metal fabrication before the balance sheet date, net of VAT and trade discounts.

1.4

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 less estimated residual value of each asset over its expected useful life, as follows:

Freehold land and buildings

2% per annum straight line & 15% per annum reducing balance

Plant and machinery

25% per annum reducing balance

Office equipment

25% per annum reducing balance

Motor vehicles

25% per annum reducing balance

1.5

Leasing and hire purchase commitments

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible assets and depreciated over their useful lives. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Government grants

Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.

A.B.R. FABRICATIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

Accounting policies

(Continued)

- 4 -

1.9

Employee Benefit Trust

During the year the company made a contribution into The A.B.R. Fabrications Limited 2014 Employee Benefit Trust ("The Scheme") for the benefit of its officers, employees and their wider families.

In accordance with UITF abstract 32 "Employee Benefit Trusts and other intermediate payment arrangements" the company does not include the assets and liabilities of The Scheme on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of The Scheme and will not have control of the rights or other access to those present economic benefits.

Fixed assets

Tangible assets

Cost

At 1 October 2014

1,274,076

Additions

39,838

Disposals

(15,995)

At 30 September 2015

1,297,919

Depreciation

At 1 October 2014

657,708

On disposals

(12,996)

Charge for the year

113,101

At 30 September 2015

757,813

Net book value

At 30 September 2015

540,106

At 30 September 2014

616,368

Creditors: amounts falling due within one year

The aggregate amount of creditors for which security has been given amounted to £112,565 (2014 - £121,862).

Creditors: amounts falling due after more than one year

The aggregate amount of creditors for which security has been given amounted to £83,259 (2014 - £195,824).

A.B.R. FABRICATIONS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2015

- 5 -

Share capital

2015

2014

Allotted, called up and fully paid

50 'A' Ordinary shares of £1 each

1 'B' Ordinary shares of £1 each

The rights attaching to the different classes of shares can be found in the company's Memorandum and Articles of Association.

Related party relationships and transactions

Advances and credits to directors

Advances and credits granted to the directors during the year are outlined in the table below:

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

J Glynn - advances

188,608

S Harrison - advances

188,608

377,216