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Registration number: 06259992

ABL Development (UK) Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 April 2017

Marshall Accountancy Ltd
St Mary's House,
Crewe Road,
Alsager
Stoke-on-Trent
Staffs
ST7 2EW

 

ABL Development (UK) Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Abridged Financial Statements

5 to 7

 

ABL Development (UK) Ltd

Company Information

Director

Mr KA Lancaster

Company secretary

Mrs JM Lancaster

Registered office

64 Audley Road
Alsager
Stoke On Trent
Staffordshire
ST7 2QN

Bankers

Barclays
Business Centre
Lyme Building
Westmere Drive
Crewe
Cheshire
CW1 6ZL

Accountants

Marshall Accountancy Ltd
St Mary's House,
Crewe Road,
Alsager
Stoke-on-Trent
Staffs
ST7 2EW

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
ABL Development (UK) Ltd
for the Year Ended 30 April 2017

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of ABL Development (UK) Ltd for the year ended 30 April 2017 as set out on pages 3 to 7 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 at
http://www.icaew.com/en/members/regulations-standards-and-guidance/.

This report is made solely to the Board of Directors of ABL Development (UK) Ltd, as a body, in accordance with the terms of our engagement letter dated 26 May 2011. Our work has been undertaken solely to prepare for your approval the accounts of ABL Development (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of ABL Development (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than ABL Development (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that ABL Development (UK) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of ABL Development (UK) Ltd. You consider that ABL Development (UK) Ltd 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 accounts of ABL Development (UK) Ltd. 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 accounts.

......................................

Marshall Accountancy Ltd
St Mary's House,
Crewe Road,
Alsager
Stoke-on-Trent
Staffs
ST7 2EW

23 January 2018

 

ABL Development (UK) Ltd

(Registration number: 06259992)
Abridged Balance Sheet as at 30 April 2017

Note

2017
£

2016
£

Fixed assets

 

Tangible assets

4

5,449

6,191

Current assets

 

Stocks

5

4,050

30,125

Debtors

25,288

15,129

Cash at bank and in hand

 

4,498

4,487

 

33,836

49,741

Creditors: Amounts falling due within one year

(37,434)

(65,120)

Net current liabilities

 

(3,598)

(15,379)

Total assets less current liabilities

 

1,851

(9,188)

Provisions for liabilities

65

77

Accruals and deferred income

 

(2,127)

(2,582)

Net liabilities

 

(211)

(11,693)

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

(213)

(11,695)

Total equity

 

(211)

(11,693)

For the financial year ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

 

ABL Development (UK) Ltd

(Registration number: 06259992)
Abridged Balance Sheet as at 30 April 2017

Approved and authorised by the director on 23 January 2018
 

.........................................
Mr KA Lancaster
Director

   
 

ABL Development (UK) Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2017

1

General information

The company is a private company limited by share capital incorporated in England and Wales.

The address of its registered office is:
64 Audley Road
Alsager
Stoke On Trent
Staffordshire
ST7 2QN

These financial statements were authorised for issue by the director on 23 January 2018.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Tools and equipment

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

ABL Development (UK) Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2016 - 1).

 

ABL Development (UK) Ltd

Notes to the Abridged Financial Statements for the Year Ended 30 April 2017

4

Tangible assets

Total
£

Cost or valuation

At 1 May 2016

34,526

Additions

805

At 30 April 2017

35,331

Depreciation

At 1 May 2016

28,335

Charge for the year

1,547

At 30 April 2017

29,882

Carrying amount

At 30 April 2017

5,449

At 30 April 2016

6,191

5

Stocks

2017
£

2016
£

Other inventories

4,050

30,125

6

Related party transactions

2017
 £

Directors Loan account

Opening balance

(18,706)

Drawings

(13,060)

(31,766)