REGISTERED NUMBER: 01903212 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2017

FOR

ABACUS TUBULAR PRODUCTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

F Riola

SECRETARY:

Mrs M G Riola

REGISTERED OFFICE:

Abacus House

Highlode Industrial Estate

Ramsey

Huntingdon

Cambs

PE26 2RB

REGISTERED NUMBER:

01903212 (England and Wales)

ACCOUNTANTS:

Tacconi Green & Co

Accountants

32a East Street

St Ives

Cambs

PE27 5PD

FIXED ASSETS

Tangible assets

4

1,011,790

1,027,037

Investments

5

96,753

96,753

1,108,543

1,123,790

CURRENT ASSETS

Debtors

6

30,495

8,616

Cash at bank and in hand

35,739

26,280

66,234

34,896

CREDITORS

Amounts falling due within one year

7

158,650

165,050

NET CURRENT LIABILITIES

(92,416

)

(130,154

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,016,127

993,636

CREDITORS

Amounts falling due after more than one year

8

(50,895

)

(55,198

)

PROVISIONS FOR LIABILITIES

(6,358

)

-

NET ASSETS

958,874

938,438

CAPITAL AND RESERVES

Called up share capital

3,000

3,000

Revaluation reserve

9

685,187

685,187

Retained earnings

270,687

250,251

SHAREHOLDERS' FUNDS

958,874

938,438

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2017 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 13th December 2017 and were signed by:

F Riola - Director

1.	STATUTORY INFORMATION

Abacus Tubular Products 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 as modified by the revaluation of certain assets.

Turnover

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

value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

not provided

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

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.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST OR VALUATION

At 1st April 2016

980,000

74,763

79,102

23,050

1,156,915

Disposals

-

-

-

(10,300

)

(10,300

)

At 31st March 2017

980,000

74,763

79,102

12,750

1,146,615

DEPRECIATION

At 1st April 2016

-

71,485

46,451

11,942

129,878

Charge for year

-

490

4,898

417

5,805

Eliminated on disposal

-

-

-

(858

)

(858

)

At 31st March 2017

-

71,975

51,349

11,501

134,825

NET BOOK VALUE

At 31st March 2017

980,000

2,788

27,753

1,249

1,011,790

At 31st March 2016

980,000

3,278

32,651

11,108

1,027,037

Cost or valuation at 31st March 2017 is represented by:

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

Valuation in 2007

685,187

-

-

-

685,187

Cost

294,813

74,763

79,102

12,750

461,428

980,000

74,763

79,102

12,750

1,146,615

The freehold property was revalued in October 2006 by Barker Storey & Matthews.

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st April 2016

and 31st March 2017

96,753

NET BOOK VALUE

At 31st March 2017

96,753

At 31st March 2016

96,753

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

11,685

6,348

Other debtors

10,000

-

Prepayments

8,810

2,268

30,495

8,616

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

2,500

2,500

Trade creditors

1,146

742

Taxation

11,752

5,960

Social security and other taxes

988

-

VAT

10,166

7,021

Directors' current accounts

131,298

148,027

Accrued expenses

800

800

158,650

165,050

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans - 1-2 years

2,500

2,500

Bank loans - 2-5 years

7,500

7,500

Bank loan

40,895

45,198

50,895

55,198

Amounts falling due in more than five years:

Repayable by instalments

Bank loan

40,895

45,198

9.

RESERVES

Revaluation

reserve

£

At 1st April 2016

and 31st March 2017

685,187

10.	RELATED PARTY DISCLOSURES