REGISTERED NUMBER: 04726959 (England and Wales)

Financial Statements

for the Year Ended 30 November 2017

for

Aabyss Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T G Midwood

SECRETARY:

Mrs C M Midwood

REGISTERED OFFICE:

Unit 19 Meridian Business Village

Hansby Drive

Speke

Liverpool

Merseyside

L24 9LG

REGISTERED NUMBER:

04726959 (England and Wales)

ACCOUNTANTS:

SB&P LLP

Oriel House

2-8 Oriel Road

Bootle

Liverpool

Merseyside

L20 7EP

FIXED ASSETS

Intangible assets

4

86,931

113,011

Tangible assets

5

38,233

47,881

125,164

160,892

CURRENT ASSETS

Stocks

6

70,599

79,836

Debtors

7

260,177

261,170

Cash at bank and in hand

8

11

330,784

341,017

CREDITORS

Amounts falling due within one year

8

212,346

294,496

NET CURRENT ASSETS

118,438

46,521

TOTAL ASSETS LESS CURRENT LIABILITIES

243,602

207,413

CREDITORS

Amounts falling due after more than one year

9

161,385

194,758

NET ASSETS

82,217

12,655

CAPITAL AND RESERVES

Called up share capital

11

7,170

50

Share premium

38,214

-

Capital redemption reserve

50

50

Retained earnings

36,783

12,555

SHAREHOLDERS' FUNDS

82,217

12,655

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 17 January 2018 and were signed by:

T G Midwood - Director

1.	STATUTORY INFORMATION

Aabyss 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.

Turnover

Turnover represents the value,net of value added tax and discounts, of goods provided to customers and work

carried out in respect of services provided to customers.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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 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

-

33% on cost, 25% on cost and 15% on cost

Fixtures and fittings

-

20% on cost and 15% 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.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2016

and 30 November 2017

347,725

AMORTISATION

At 1 December 2016

234,714

Charge for year

26,080

At 30 November 2017

260,794

NET BOOK VALUE

At 30 November 2017

86,931

At 30 November 2016

113,011

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2016

55,428

105,541

8,638

169,607

Additions

6,833

1,633

11,459

19,925

Disposals

-

(46,971

)

-

(46,971

)

At 30 November 2017

62,261

60,203

20,097

142,561

DEPRECIATION

At 1 December 2016

41,226

76,181

4,319

121,726

Charge for year

10,847

12,027

6,699

29,573

Eliminated on disposal

-

(46,971

)

-

(46,971

)

At 30 November 2017

52,073

41,237

11,018

104,328

NET BOOK VALUE

At 30 November 2017

10,188

18,966

9,079

38,233

At 30 November 2016

14,202

29,360

4,319

47,881

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

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

COST

At 1 December 2016

and 30 November 2017

41,499

58,095

99,594

DEPRECIATION

At 1 December 2016

27,616

11,618

39,234

Charge for year

9,745

29,049

38,794

At 30 November 2017

37,361

40,667

78,028

NET BOOK VALUE

At 30 November 2017

4,138

17,428

21,566

At 30 November 2016

13,883

46,477

60,360

6.

STOCKS

30.11.17

30.11.16

£

£

Stocks

70,599

79,836

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Trade debtors

153,048

163,633

Other debtors

107,129

97,537

260,177

261,170

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.17

30.11.16

£

£

Bank loans and overdrafts

90

39,244

Hire purchase contracts

21,544

24,013

Trade creditors

69,111

64,426

Taxation and social security

60,625

51,666

Other creditors

60,976

115,147

212,346

294,496

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.17

30.11.16

£

£

Hire purchase contracts

11,385

29,758

Other creditors

150,000

165,000

161,385

194,758

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.17

30.11.16

£

£

Bank overdrafts

90

39,244

The bank loan is secured by a fixed and floating charge against all property or undertaking of the company

dated 21 February 2014.

The director has a personal guarantee relating to the company overdraft.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.17

30.11.16

value:

£

£

50

Ordinary shares

£1

7,170

50

12.	CONTROLLING PARTY

The controlling party is T G Midwood.