REGISTERED NUMBER: 03806683 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2017

FOR

ABC GLASS PROCESSING LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A G Hellyer

I J Sawyer

C R Stafford

M Johnson

K Stafford

SECRETARY:

I J Sawyer

REGISTERED OFFICE:

2a Dundas Close

Portsmouth

Hampshire

PO3 5RB

REGISTERED NUMBER:

03806683 (England and Wales)

ACCOUNTANTS:

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and

the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of ABC Glass Processing Limited for the year ended 31st December 2017 which comprise the

Income Statement, Balance Sheet and the related notes from the company's accounting records and from information

and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of ABC Glass Processing Limited, as a body, in accordance with the terms of our engagement letter dated 29th March 2017. Our work has been undertaken solely to prepare for your approval the financial statements of ABC Glass Processing Limited and state those matters that we have agreed to state to the Board of Directors of ABC Glass Processing Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABC Glass Processing Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that ABC Glass Processing Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of ABC Glass Processing Limited. You consider that ABC Glass Processing Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of ABC Glass Processing Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothman Pantall LLP

Chartered Accountants

Fareham House

69 High Street

Fareham

Hampshire

PO16 7BB

28th March 2018

FIXED ASSETS

Tangible assets

4

1,316,595

1,143,526

CURRENT ASSETS

Stocks

38,722

15,801

Debtors

5

522,228

482,620

Cash at bank and in hand

689,077

681,625

1,250,027

1,180,046

CREDITORS

Amounts falling due within one year

6

563,788

501,763

NET CURRENT ASSETS

686,239

678,283

TOTAL ASSETS LESS CURRENT LIABILITIES

2,002,834

1,821,809

CREDITORS

Amounts falling due after more than one year

7

(369,671

)

(308,741

)

PROVISIONS FOR LIABILITIES

(163,401

)

(171,984

)

NET ASSETS

1,469,762

1,341,084

CAPITAL AND RESERVES

Called up share capital

14,940

15,660

Capital redemption reserve

5,060

4,340

Retained earnings

1,449,762

1,321,084

SHAREHOLDERS' FUNDS

1,469,762

1,341,084

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 26th March 2018 and were signed on its behalf by:

A G Hellyer - Director

C R Stafford - Director

1.	STATUTORY INFORMATION

ABC Glass Processing 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 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

-

10% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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.

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 29 (2016 - 28 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st January 2017

30,495

1,971,919

365

Additions

35,774

459,440

67,818

Disposals

-

(347,640

)

-

At 31st December 2017

66,269

2,083,719

68,183

DEPRECIATION

At 1st January 2017

30,495

869,688

280

Charge for year

3,578

211,472

16,976

Eliminated on disposal

-

(195,785

)

-

At 31st December 2017

34,073

885,375

17,256

NET BOOK VALUE

At 31st December 2017

32,196

1,198,344

50,927

At 31st December 2016

-

1,102,231

85

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st January 2017

95,650

23,722

2,122,151

Additions

-

7,466

570,498

Disposals

-

-

(347,640

)

At 31st December 2017

95,650

31,188

2,345,009

DEPRECIATION

At 1st January 2017

55,854

22,308

978,625

Charge for year

9,949

3,599

245,574

Eliminated on disposal

-

-

(195,785

)

At 31st December 2017

65,803

25,907

1,028,414

NET BOOK VALUE

At 31st December 2017

29,847

5,281

1,316,595

At 31st December 2016

39,796

1,414

1,143,526

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

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1st January 2017

823,525

27,750

851,275

Additions

376,756

-

376,756

Disposals

(82,525

)

-

(82,525

)

Transfer to ownership

(131,000

)

(27,750

)

(158,750

)

At 31st December 2017

986,756

-

986,756

DEPRECIATION

At 1st January 2017

183,287

12,141

195,428

Charge for year

132,120

-

132,120

Eliminated on disposal

(19,393

)

-

(19,393

)

Transfer to ownership

(57,943

)

(12,141

)

(70,084

)

At 31st December 2017

238,071

-

238,071

NET BOOK VALUE

At 31st December 2017

748,685

-

748,685

At 31st December 2016

640,238

15,609

655,847

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

469,326

434,905

Other debtors

52,902

47,715

522,228

482,620

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

207,573

178,929

Trade creditors

88,397

63,442

Taxation and social security

196,579

226,048

Other creditors

71,239

33,344

563,788

501,763

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

369,671

308,741

8.	FINANCIAL COMMITMENTS

During the year the company puchased 720 ordinary shares from B J Aston at market value of £100,000.

The company has committed to purchase further shares from B J Aston as follows:-

31 December 2018 720 ordinary shares for £100,000,

31 December 2019 720 ordinary shares for £100,000.

9.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.