REGISTERED NUMBER: 06432820 (England and Wales)

Unaudited Financial Statements

For The Year Ended 31 December 2016

for

Abel Skip Hire Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr B W Pepper

Mrs M Pepper

SECRETARY:

Mrs M Pepper

REGISTERED OFFICE:

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

BUSINESS ADDRESS:

Unit 5, Martins Yard

Spencer Bridge Road

Northampton

Northamptonshire

NN57DU

REGISTERED NUMBER:

06432820 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

FIXED ASSETS

Intangible assets

4

5,500

11,000

Tangible assets

5

415,711

363,854

421,211

374,854

CURRENT ASSETS

Debtors

6

134,218

102,630

Cash at bank and in hand

400,954

256,021

535,172

358,651

CREDITORS

Amounts falling due within one year

7

278,680

197,577

NET CURRENT ASSETS

256,492

161,074

TOTAL ASSETS LESS CURRENT LIABILITIES

677,703

535,928

CREDITORS

Amounts falling due after more than one year

8

(176,196

)

(183,341

)

PROVISIONS FOR LIABILITIES

(83,142

)

(72,771

)

NET ASSETS

418,365

279,816

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

418,265

279,716

SHAREHOLDERS' FUNDS

418,365

279,816

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 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.

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 20 March 2017 and were signed on its behalf by:

Mr B W Pepper - Director

Mrs M Pepper - Director

1.	STATUTORY INFORMATION

Abel Skip Hire 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.

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.

Turnover

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

value added tax and other sales taxes.

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 ten years.

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 the cost less estimated residual value of 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

-

15% on reducing balance

Skips

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

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 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.

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 profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

55,000

AMORTISATION

At 1 January 2016

44,000

Charge for year

5,500

At 31 December 2016

49,500

NET BOOK VALUE

At 31 December 2016

5,500

At 31 December 2015

11,000

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

Skips

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2016

267,138

23,385

366,794

2,485

659,802

Additions

143,542

-

106,500

-

250,042

Disposals

(140,264

)

-

-

-

(140,264

)

At 31 December 2016

270,416

23,385

473,294

2,485

769,580

DEPRECIATION

At 1 January 2016

87,889

17,013

189,473

1,573

295,948

Charge for year

34,721

956

70,956

227

106,860

Eliminated on disposal

(48,939

)

-

-

-

(48,939

)

At 31 December 2016

73,671

17,969

260,429

1,800

353,869

NET BOOK VALUE

At 31 December 2016

196,745

5,416

212,865

685

415,711

At 31 December 2015

179,249

6,372

177,321

912

363,854

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 January 2016

228,264

359,794

588,058

Additions

143,542

106,500

250,042

Disposals

(140,264

)

-

(140,264

)

Transfer to ownership

-

(144,500

)

(144,500

)

At 31 December 2016

231,542

321,794

553,336

DEPRECIATION

At 1 January 2016

62,139

185,426

247,565

Charge for year

32,751

70,217

102,968

Eliminated on disposal

(48,939

)

-

(48,939

)

Transfer to ownership

-

(118,782

)

(118,782

)

At 31 December 2016

45,951

136,861

182,812

NET BOOK VALUE

At 31 December 2016

185,591

184,933

370,524

At 31 December 2015

166,125

174,368

340,493

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

108,112

92,140

Other debtors

174

-

Prepayments

25,932

10,490

134,218

102,630

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Hire purchase contracts (see note 9)

76,970

87,869

Trade creditors

110,212

29,046

Tax

50,863

2,627

Social security and other taxes

3,519

4,230

VAT

23,352

29,921

Directors' current accounts

10,764

35,884

Accrued expenses

3,000

8,000

278,680

197,577

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/16

31/12/15

£

£

Hire purchase contracts (see note 9)

176,196

183,341

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31/12/16

31/12/15

£

£

Net obligations repayable:

Within one year

76,970

87,869

Between one and five years

176,196

183,341

253,166

271,210

Non-cancellable operating

leases

31/12/16

31/12/15

£

£

Between one and five years

50,384

24,050

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

100

Ordinary

£1

100

100