REGISTERED NUMBER: 01216462 (England and Wales)

ABLE LIFTING GEAR (SWANSEA) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

N B Tate

REGISTERED OFFICE:

Unit 22

St Davids Industrial Estate

St Davids Road Enterprise Park

Swansea

West Glamorgan

SA6 8RX

REGISTERED NUMBER:

01216462 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

BANKERS:

Lloyds TSB

134 High Street

Stourbridge

West Midlands

DY8 1DS

FIXED ASSETS

Tangible assets

4

51,191

32,777

CURRENT ASSETS

Stocks

8,000

8,000

Debtors

5

132,141

124,192

Cash at bank and in hand

166,886

88,182

307,027

220,374

CREDITORS

Amounts falling due within one year

6

128,879

84,788

NET CURRENT ASSETS

178,148

135,586

TOTAL ASSETS LESS CURRENT LIABILITIES

229,339

168,363

CREDITORS

Amounts falling due after more than one year

7

(13,296

)

(14,434

)

PROVISIONS FOR LIABILITIES

(9,450

)

(6,556

)

NET ASSETS

206,593

147,373

CAPITAL AND RESERVES

Called up share capital

50

50

Capital redemption reserve

50

50

Retained earnings

206,493

147,273

SHAREHOLDERS' FUNDS

206,593

147,373

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 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 18 January 2018 and were signed by:

N B Tate - Director

1.	STATUTORY INFORMATION

Able Lifting Gear (Swansea) 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.

Plant and machinery

-

15% reducing balance

Fixtures and fittings

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Stocks

Stocks 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 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.

Rentals paid under operating leases are charged to the profit and loss account 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.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation

that the company has adequate resources to continue in operational existence for the foreseeable

future. The company therefore continues to adopt the going concern basis in preparing its financial

statements.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments held within a

deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the Company has a present obligation resulting from a

past event that will probably result in the transfer of funds to a third party and the amount due to settle

the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised

at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 May 2016

48,344

11,379

32,649

92,372

Additions

968

4,088

29,380

34,436

Disposals

-

-

(15,876

)

(15,876

)

At 30 April 2017

49,312

15,467

46,153

110,932

DEPRECIATION

At 1 May 2016

43,821

7,187

8,587

59,595

Charge for year

665

557

6,055

7,277

Eliminated on disposal

-

-

(7,131

)

(7,131

)

At 30 April 2017

44,486

7,744

7,511

59,741

NET BOOK VALUE

At 30 April 2017

4,826

7,723

38,642

51,191

At 30 April 2016

4,523

4,192

24,062

32,777

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

Motor

vehicles

£

COST

At 1 May 2016

32,649

Additions

29,380

Disposals

(15,876

)

At 30 April 2017

46,153

DEPRECIATION

At 1 May 2016

8,587

Charge for year

(1

)

Eliminated on disposal

(7,131

)

At 30 April 2017

1,455

NET BOOK VALUE

At 30 April 2017

44,698

At 30 April 2016

24,062

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

126,947

119,351

Other debtors

5,194

4,841

132,141

124,192

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

-

938

Hire purchase contracts

15,071

6,050

Trade creditors

76,968

48,498

Taxation and social security

33,050

25,735

Other creditors

3,790

3,567

128,879

84,788

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

13,296

14,434

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

-

938

Hire purchase contracts

28,367

20,484

28,367

21,422

The bank loan account is secured on the director's personal property.

The hire purchase contracts are secured on the assets to which they relates.

9.	RELATED PARTY DISCLOSURES

Included in other creditors is a balance of £5 (2016: £35) owed to the director.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N B Tate by virtue of his 100% shareholding.

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 Able Lifting Gear (Swansea) Limited for the year ended 30 April 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 Able Lifting Gear (Swansea) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Able Lifting Gear (Swansea) Limited and state those matters that we have agreed to state to the director of Able Lifting Gear (Swansea) 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 Able Lifting Gear (Swansea) Limited and its director for our work or for this report.

It is your duty to ensure that Able Lifting Gear (Swansea) 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 Able Lifting Gear (Swansea) Limited. You consider that Able Lifting Gear (Swansea) 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 Able Lifting Gear (Swansea) 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.

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

18 January 2018