REGISTERED NUMBER: 05492207 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Abacus Industrial Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A Saunders

CK Saunders

Miss C M Saunders

P Saunders

SECRETARY:

CK Saunders

REGISTERED OFFICE:

Unit 9A Bingham Park

Potten End Hill

Water End

Hemel Hempstead

HP1 3BN

REGISTERED NUMBER:

05492207 (England and Wales)

ACCOUNTANTS:

Danton Partners Ltd

Chartered Management Accountants

7 Merlin Centre

Gatehouse Close

Aylesbury

Buckinghamshire

HP19 8DP

FIXED ASSETS

Tangible assets

4

4,187

5,582

CURRENT ASSETS

Stocks

50,000

12,500

Debtors

5

104,822

105,848

Cash at bank and in hand

25,584

4,910

180,406

123,258

CREDITORS

Amounts falling due within one year

6

242,860

171,937

NET CURRENT LIABILITIES

(62,454

)

(48,679

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(58,267

)

(43,097

)

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

8

(58,269

)

(43,099

)

SHAREHOLDERS' FUNDS

(58,267

)

(43,097

)

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

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

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 12 December 2017 and were signed on its behalf by:

CK Saunders - Director

1.	STATUTORY INFORMATION

Abacus Industrial 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.

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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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

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 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2016

and 31 March 2017

1,380

14,026

15,406

DEPRECIATION

At 1 April 2016

1,258

8,566

9,824

Charge for year

30

1,365

1,395

At 31 March 2017

1,288

9,931

11,219

NET BOOK VALUE

At 31 March 2017

92

4,095

4,187

At 31 March 2016

122

5,460

5,582

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

100,180

102,420

Other debtors

4,642

3,428

104,822

105,848

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

116,627

86,403

Taxation and social security

355

2,621

Other creditors

125,878

82,913

242,860

171,937

Included in creditors is £125,877 (2016: £82,914) due to the directors. This loan is interest bearing and repayable on

demand.

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.17

31.3.16

value:

£

£

2

Ordinary shares

1

2

2

8.

RESERVES

Retained

earnings

£

At 1 April 2016

(43,099

)

Deficit for the year

(15,170

)

At 31 March 2017

(58,269

)

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is £125,877 (2016: £82,914) due to the directors. This loan is interest bearing and repayable on

demand.

10.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors. Christopher Saunders and Aileen Saunders, whom own 1 ordinary

share each.

11.	GOING CONCERN

After making enquiries, the directors have formed a judgement, at the time of approving the financial statements, that

there is a reasonable expectation that the company has adequate resources to continue in operational existence. This is

because the directors have agreed to provide the company with continuous support for the foreseeable future.