REGISTERED NUMBER: 02335679 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2017

FOR

ABASTRA ENVIRONMENTAL LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C C Lawrence

C Lawrence

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

02335679 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Tangible assets

4

98,274

33,264

CURRENT ASSETS

Stocks

3,000

13,000

Debtors

262,828

275,529

Cash at bank and in hand

82,175

5,285

348,003

293,814

CREDITORS

Amounts falling due within one year

234,250

249,193

NET CURRENT ASSETS

113,753

44,621

TOTAL ASSETS LESS CURRENT LIABILITIES

212,027

77,885

CREDITORS

Amounts falling due after more than one year

(54,682

)

(1,653

)

PROVISIONS FOR LIABILITIES

(4,439

)

(2,877

)

NET ASSETS

152,906

73,355

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

152,806

73,255

SHAREHOLDERS' FUNDS

152,906

73,355

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31st October 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 26th July 2018 and were signed on its behalf by:

C Lawrence - Director

1.	STATUTORY INFORMATION

Abastra Environmental Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Changes in accounting policies

The principle accounting policies adopted in the preparation of the financial statements are set out below and

have also been consistently applied within the same accounts following the transition to FRS 102 Section 1A

small entities on 1st November 2015.

Turnover

Turnover represents the fair value of services provided, excluding value added tax, once the income and related

costs incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes direct

materials, labour costs and those overheads that have been incurred to bring the stock to its present location and

condition.

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 applicable to operating leases where substantially all the benefits and risks of ownership remain with the

lessor are charged to the profit and loss account on a straight line basis over the lease term.

Assets under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives.

The corresponding lease and hire purchase obligation is treated in the balance sheet as a liability. The interest

element of rental obligations is charged to the profit and loss account over the period of the lease at a constant

proportion of the outstanding balance of capital repayments.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Website development

In accordance with standard practice, it is the company's policy to write off any website development costs in the

year they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2016

137,779

Additions

81,530

Disposals

(18,299

)

At 31st October 2017

201,010

DEPRECIATION

At 1st November 2016

104,515

Charge for year

13,545

Eliminated on disposal

(15,324

)

At 31st October 2017

102,736

NET BOOK VALUE

At 31st October 2017

98,274

At 31st October 2016

33,264

The net book value of the assets above include £83,444 (2016 - £24,448) for motor vehicles under hire purchase

contracts. Depreciation for these assets, amounting to £8,331 (2016 - £8,150).

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

1,311

54,338

Hire purchase contracts

67,852

12,146

69,163

66,484

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2017 and

31st October 2016:

2017

2016

£

£

C Lawrence

Balance outstanding at start of year

36,964

42,403

Amounts advanced

47,118

52,104

Amounts repaid

(49,078

)

(57,543

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

35,004

36,964

C C Lawrence

Balance outstanding at start of year

22,698

25,877

Amounts advanced

33,807

36,662

Amounts repaid

(38,517

)

(39,841

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

17,988

22,698

Various amounts were advanced to the directors with no variable rate interest charged, with the advance being

repayable on demand.

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £80,000 (2016 - £89,000) were paid to the directors .