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ABa Quality Monitoring Limited

Unaudited Financial Statements

for the Year Ended 28 February 2017

ABa Quality Monitoring Limited

Contents

Statement of Financial Position	1 to 2
Notes to the Financial Statements	3 to 8

ABa Quality Monitoring Limited

(Registration number: 03137768)
Statement of Financial Position as at 28 February 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	172,005	174,195
Other financial assets	5	590,566	532,857
		762,571	707,052
Current assets
Debtors	6	1,257,464	1,355,671
Cash at bank and in hand		626,289	772,028
		1,883,753	2,127,699
Creditors: Amounts falling due within one year	7	(448,791)	(577,598)
Net current assets		1,434,962	1,550,101
Total assets less current liabilities		2,197,533	2,257,153
Provisions for liabilities		(13,181)	(4,686)
Net assets		2,184,352	2,252,467
Capital and reserves
Called up share capital		250,103	250,103
Profit and loss account		1,934,249	2,002,364
Shareholders funds		2,184,352	2,252,467

For the financial year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 1

ABa Quality Monitoring Limited

(Registration number: 03137768)
Statement of Financial Position as at 28 February 2017

Approved and authorised by the Board on 30 November 2017 and signed on its behalf by:
 

.........................................

Mrs K M Jacobson

Director

The notes on pages 3 to 8 form an integral part of these financial statements.

Page 2

ABa Quality Monitoring Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

1	General information

The company is a private company limited by share capital incorporated in England & Wales.

The address of its registered office is:
St George's House
215-219 Chester Road
Manchester
Lancashire
M15 4JE
United Kingdom

The principal place of business is:
Unit A6 Riverview, The Embankment Business Park
Heaton Mersey
Stockport
Cheshire
SK4 3GN

These financial statements were authorised for issue by the Board on 30 November 2017.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements for the year ended 28 February 2017 are the first financial statements that comply with FRS 102 Section 1A for small entities. The date of transition is 1 March 2015. Details of how FRS 102 Section 1A has affected the reported financial position and financial performance is given in note 9.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Foreign currency transactions and balances

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the closing rates at the balance sheet date. All exchange differences are included in the income statement.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, less any estimated residual value, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing value

Page 3

ABa Quality Monitoring Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

Motor vehicles	25% reducing value
Equipment	25% reducing value

Investments

Listed investments are valued at their market value at the balance sheet date and any changes in their fair value between the previous year end or acquisition, as applicable are recognised in the income statement.

Other investments are valued at cost less impairment.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 
 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 62 (2016 - 56).

Page 4

ABa Quality Monitoring Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 March 2016	448,420	213,976	662,396
Additions	27,667	35,525	63,192
Disposals	-	(16,500)	(16,500)
At 28 February 2017	476,087	233,001	709,088
Depreciation
At 1 March 2016	339,342	148,858	488,200
Charge for the year	33,509	31,874	65,383
Eliminated on disposal	-	(16,500)	(16,500)
At 28 February 2017	372,851	164,232	537,083
Carrying amount
At 28 February 2017	103,236	68,769	172,005
At 29 February 2016	109,077	65,118	174,195

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Non-current financial assets
Cost or valuation
At 1 March 2016	532,857	532,857
Fair value adjustments	45,944	45,944
Additions	35,031	35,031
Disposals	(23,266)	(23,266)
At 28 February 2017	590,566	590,566

Page 5

ABa Quality Monitoring Limited

Notes to the Financial Statements for the Year Ended 28 February 2017

6

Debtors

	2017 £	2016 £
Trade debtors	920,888	931,013
Other debtors	336,576	424,658
Total current trade and other debtors	1,257,464	1,355,671

7

Creditors

	Note	2017 £	2016 £
Due within one year
Trade creditors		40,302	63,338
Taxation and social security		192,254	177,678
Other creditors		216,235	336,582
		448,791	577,598