| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Abiljo Excavator Services Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2016 |
| for |
| Abiljo Excavator Services Limited |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2016 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Abiljo Excavator Services Limited |
| Company Information |
| for the Year Ended 31 December 2016 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| BUSINESS ADDRESS: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| The Mills |
| Canal Street |
| Derby |
| DE1 2RJ |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Balance Sheet |
| 31 December 2016 |
| 2016 | 2015 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 10 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Share premium |
| Revaluation reserve | 11 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| 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. |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Balance Sheet - continued |
| 31 December 2016 |
| In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors on its behalf by: |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2016 |
| 1. | STATUTORY INFORMATION |
| Abiljo Excavator Services Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods, excluding value added tax, and including, where |
| applicable, relevant costs and overheads plus attributable profit to date recoverable on contracts. |
| Turnover is recognised when the company has transferred the significant risks and rewards of |
| ownership to the buyer and it is probable that the company will receive the agreed upon payment. |
| 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. |
| Freehold property | - 2% on revaluation |
| Plant and equipment | - 10% on reducing balance |
| Office equipment | - 25% on cost and 10% on reducing balance |
| Motor vehicles | - 25% on reducing balance |
| Freehold land is not depreciated. |
| Stocks and work in progress |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving stock. Cost is based on latest invoice value. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| 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 paid in year are charged |
| to the profit and loss account |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 2. | ACCOUNTING POLICIES - continued |
| Debt factoring |
| The gross asset equivalent of debts factored is included within trade debtors with the corresponding |
| amount relating to proceeds received from the factor included within creditors. The interest element |
| and other factor's charges are recognised within the profit and loss account as they accrue. |
| Deferred tax |
| Provision is made at current rates for taxation deferred in respect of all material timing differences. No |
| provision is made for potential tax arising on assets which have been revalued. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Office | Motor |
| property | equipment | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST OR VALUATION |
| At 1 January 2016 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 December 2016 |
| DEPRECIATION |
| At 1 January 2016 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 31 December 2016 |
| NET BOOK VALUE |
| At 31 December 2016 |
| At 31 December 2015 |
| Included in cost or valuation of land and buildings is freehold land of £ 294,594 (2015 - £ 294,594 ) |
| which is not depreciated. |
| Cost or valuation at 31 December 2016 is represented by: |
| Freehold | Plant and | Office | Motor |
| property | equipment | equipment | vehicles | Totals |
| £ | £ | £ | £ | £ |
| Valuation in 2012 | 662,700 | - | - | - | 662,700 |
| Cost | - | 696,263 | 51,146 | 53,279 | 800,688 |
| 662,700 | 696,263 | 51,146 | 53,279 | 1,463,388 |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| If freehold land and buildings had not been revalued they would have been included at the following |
| historical cost: |
| 2016 | 2015 |
| £ | £ |
| Cost | 352,153 | 352,153 |
| Aggregate depreciation | 80,214 | 75,660 |
| Value of land in freehold land and buildings | 124,490 | 124,490 |
| The net book value of tangible fixed assets includes £ 18,004 (2015 - £ 20,599 ) in respect of assets |
| held under hire purchase contracts. |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on contracts |
| Other debtors |
| Corporation tax |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans and overdrafts |
| Advances under factoring arrangement |
| Hire purchase contracts (see note 8) |
| Trade creditors |
| Corporation tax |
| Social security and other taxes |
| Other creditors |
| Directors' loan accounts | 21,732 | - |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2016 | 2015 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Hire purchase contracts (see note 8) |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments due under non-cancellable operating leases are £14,400 (2015: £14,400). |
| Abiljo Excavator Services Limited (Registered number: 01427164) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2016 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2016 | 2015 |
| £ | £ |
| Bank overdrafts |
| Bank loans |
| Advances under factoring arrangement |
| Hire purchase contracts | 3,443 | 8,752 |
| 10. | PROVISIONS FOR LIABILITIES |
| 2016 | 2015 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances | 46,166 | 48,048 |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2016 |
| Credit to profit and loss |
| account during year | (1,882 | ) |
| Balance at 31 December 2016 |
| 11. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 January 2016 |
| Transfer of depreciation | (3,909 | ) |
| At 31 December 2016 |