REGISTERED NUMBER: 01283845 (England and Wales)

ABEX LIMITED

Abbreviated Unaudited Accounts for the Year Ended 30 June 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M E Connop

D J Woolley

SECRETARY:

M E Connop

REGISTERED OFFICE:

Abex House,

93 Cato Street,

Birmingham,

West Midlands,

B7 4TS

REGISTERED NUMBER:

01283845 (England and Wales)

ACCOUNTANTS:

Michael Dufty Partnership Limited

59-61 Charlotte Street

St Pauls Square

Birmingham

West Midlands

B3 1PX

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

930,517

848,962

930,517

848,962

CURRENT ASSETS

Stocks

94,889

177,918

Debtors

377,374

390,657

Cash in hand

143,250

31

615,513

568,606

CREDITORS

Amounts falling due within one year

4

697,107

717,676

NET CURRENT LIABILITIES

(81,594

)

(149,070

)

TOTAL ASSETS LESS CURRENT LIABILITIES

848,923

699,892

CREDITORS

Amounts falling due after more than one year

4

(216,266

)

(216,610

)

PROVISIONS FOR LIABILITIES

(27,123

)

(8,263

)

NET ASSETS

605,534

475,019

CAPITAL AND RESERVES

Called up share capital

5

8,200

8,200

Share premium

28,889

28,889

Capital redemption reserve

2,911

2,911

Profit and loss account

565,534

435,019

SHAREHOLDERS' FUNDS

605,534

475,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 4 July 2013 and were signed on its behalf by:

M E Connop - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of three years.

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.

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

20% on cost

Motor vehicles

-

10% on reducing balance

Computer equipment

-

33% on cost and 10% 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.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2012

and 30 June 2013

40,000

AMORTISATION

At 1 July 2012

and 30 June 2013

40,000

NET BOOK VALUE

At 30 June 2013

-

At 30 June 2012

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 July 2012

1,501,035

Additions

418,555

Disposals

(297,246

)

At 30 June 2013

1,622,344

DEPRECIATION

At 1 July 2012

652,073

Charge for year

170,205

Eliminated on disposal

(130,451

)

At 30 June 2013

691,827

NET BOOK VALUE

At 30 June 2013

930,517

At 30 June 2012

848,962

4.

CREDITORS

Creditors include an amount of £ 0 (2012 - £ 398,628 ) for which security has been given.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2013

2012

value:

as restated

£

£

8,200

Ordinary

£1

8,200

8,200

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the following loans to the company from the directors existed:

M Connop - £15,244 (2011 - Nil)

D Woolley - £6,774 (2011 - Nil)

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M & Mrs L Connop due to their majority holding in the ordinary share

capital.