REGISTERED NUMBER: 05233483 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

AB Special Projects Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Accountants' Report

5

DIRECTOR:

A W Bailey

REGISTERED OFFICE:

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

REGISTERED NUMBER:

05233483 (England and Wales)

ACCOUNTANTS:

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

BANKERS:

Lloyds TSB

234 High Street

Exeter

Devon

EX4 3NL

FIXED ASSETS

Tangible assets

4

127,269

167,681

CURRENT ASSETS

Stocks

110,000

314,000

Debtors

5

282,890

330,984

392,890

644,984

CREDITORS

Amounts falling due within one year

6

246,063

353,247

NET CURRENT ASSETS

146,827

291,737

TOTAL ASSETS LESS CURRENT LIABILITIES

274,096

459,418

CREDITORS

Amounts falling due after more than one year

7

(93,495

)

(227,395

)

PROVISIONS FOR LIABILITIES

(24,181

)

(33,536

)

NET ASSETS

156,420

198,487

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

156,320

198,387

SHAREHOLDERS' FUNDS

156,420

198,487

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 director acknowledges his 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 director on 22 December 2017 and were signed by:

A W Bailey - Director

1.	STATUTORY INFORMATION

AB Special Projects 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 31 March 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 April 2015.

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

-

15% on cost

Motor vehicles

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

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

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 13 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

140,238

122,159

4,019

266,416

Additions

102

55,215

1,294

56,611

Disposals

(56,250

)

(25,475

)

-

(81,725

)

At 31 March 2017

84,090

151,899

5,313

241,302

DEPRECIATION

At 1 April 2016

27,148

70,240

1,347

98,735

Charge for year

16,972

22,583

1,086

40,641

Eliminated on disposal

(19,196

)

(6,147

)

-

(25,343

)

At 31 March 2017

24,924

86,676

2,433

114,033

NET BOOK VALUE

At 31 March 2017

59,166

65,223

2,880

127,269

At 31 March 2016

113,090

51,919

2,672

167,681

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

26,916

149,549

Amounts recoverable on contract

253,000

162,000

Other debtors

2,974

19,435

282,890

330,984

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Bank loans and overdrafts

25,315

15,837

Hire purchase contracts

47,088

49,260

Trade creditors

22,555

189,770

Taxation and social security

34,605

87,632

Other creditors

116,500

10,748

246,063

353,247

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

93,495

96,604

Other creditors

-

130,791

93,495

227,395

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 were paid to the director .

The following reproduces the text of the report prepared for the director 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 Director 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 AB Special Projects Limited for the year ended 31 March 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 director of AB Special Projects Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of AB Special Projects Limited and state those matters that we have agreed to state to the director of AB Special Projects Limited 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 AB Special Projects Limited and its director for our work or for this report.

It is your duty to ensure that AB Special Projects 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 loss of AB Special Projects Limited. You consider that AB Special Projects 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 AB Special Projects 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.

Kirk Hills Chartered Accountants

5 Barnfield Crescent

Exeter

Devon

EX1 1QT

22 December 2017