REGISTERED NUMBER: 03753133 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

Abate Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Blake

Mrs J V Blake

REGISTERED OFFICE:

Evolution House

Iceni Court

Delft Way

Norwich

Norfolk

NR6 6BB

REGISTERED NUMBER:

03753133 (England and Wales)

ACCOUNTANTS:

Farnell Clarke Limited

Evolution House

Delft Way

Norwich Airport

Norwich

Norfolk

NR6 6BB

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

103,888

75,329

Investments

6

4,999

-

108,887

75,329

CURRENT ASSETS

Inventories

22,800

15,300

Debtors

7

79,429

60,118

Cash at bank and in hand

7,716

9,430

109,945

84,848

CREDITORS

Amounts falling due within one year

8

85,425

96,718

NET CURRENT ASSETS/(LIABILITIES)

24,520

(11,870

)

TOTAL ASSETS LESS CURRENT LIABILITIES

133,407

63,459

CREDITORS

Amounts falling due after more than one year

9

(74,741

)

(31,665

)

PROVISIONS FOR LIABILITIES

(19,739

)

(13,494

)

NET ASSETS

38,927

18,300

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

38,925

18,298

SHAREHOLDERS' FUNDS

38,927

18,300

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

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

Mr J Blake - Director

1.	STATUTORY INFORMATION

Abate 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 April 2017 are the first that are prepared in accordance with

FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the date of

transition to FRS 102 Section 1A is 1 May 2016.

Turnover

Revenue 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property - Straight line over 15 years

Fixtures, fittings and equipment - 15% on reducing balance

Motor vehicles - 25% on reducing balance

Plant and machinery - 25% on reducing balance

Stocks

Inventories 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 statement of financial position date.

Deferred tax

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

statement of financial position 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.

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 9 .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 May 2016

and 30 April 2017

4,200

AMORTISATION

At 1 May 2016

and 30 April 2017

4,200

NET BOOK VALUE

At 30 April 2017

-

At 30 April 2016

-

5.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2016

21,150

59,024

26,629

Additions

-

65,489

2,477

Disposals

-

(20,446

)

-

At 30 April 2017

21,150

104,067

29,106

DEPRECIATION

At 1 May 2016

5,231

20,411

16,311

Charge for year

1,427

15,667

1,821

Eliminated on disposal

-

(1,910

)

-

At 30 April 2017

6,658

34,168

18,132

NET BOOK VALUE

At 30 April 2017

14,492

69,899

10,974

At 30 April 2016

15,919

38,613

10,318

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2016

18,990

-

125,793

Additions

1,495

300

69,761

Disposals

(8,195

)

-

(28,641

)

At 30 April 2017

12,290

300

166,913

DEPRECIATION

At 1 May 2016

8,511

-

50,464

Charge for year

2,430

63

21,408

Eliminated on disposal

(6,937

)

-

(8,847

)

At 30 April 2017

4,004

63

63,025

NET BOOK VALUE

At 30 April 2017

8,286

237

103,888

At 30 April 2016

10,479

-

75,329

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 May 2016

52,551

10,795

63,346

Additions

59,189

-

59,189

Disposals

(15,180

)

-

(15,180

)

At 30 April 2017

96,560

10,795

107,355

DEPRECIATION

At 1 May 2016

19,875

1,574

21,449

Charge for year

14,513

2,305

16,818

Eliminated on disposal

(1,581

)

-

(1,581

)

At 30 April 2017

32,807

3,879

36,686

NET BOOK VALUE

At 30 April 2017

63,753

6,916

70,669

At 30 April 2016

32,676

9,221

41,897

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

4,999

At 30 April 2017

4,999

NET BOOK VALUE

At 30 April 2017

4,999

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

75,939

59,598

Other debtors

520

520

Prepayments

2,970

-

79,429

60,118

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans and overdrafts

4,230

6,828

Hire purchase contracts

22,932

15,109

Trade creditors

6,037

15,173

Tax

931

4,070

Social security and other taxes

2,423

1,438

VAT

8,715

9,425

Other creditors

5,673

8,210

Directors' current accounts

33,709

36,165

Accruals and deferred income

775

300

85,425

96,718

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Bank loans - 1-2 years

4,230

3,455

Bank loans - 2-5 years

23,290

-

Hire purchase contracts

47,221

28,210

74,741

31,665

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

2

Ordinary

£1

2

2

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £10,000 (2016 - £31,400) were paid to the directors .

12.	ULTIMATE CONTROLLING PARTY

By way of their equal shareholdings, Mr J Blake and Mrs J Blake share ultimate control of the company between

them.