REGISTERED NUMBER: 03189923 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2017

for

Abrams Bulk Haulage (East Anglia) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P E Abram

REGISTERED OFFICE:

Manor Farm

Oxwick

FAKENHAM

Norfolk

NR21 7HZ

REGISTERED NUMBER:

03189923 (England and Wales)

ACCOUNTANTS:

Argents Chartered Accountants

15 Palace Street

NORWICH

Norfolk

NR3 1RT

FIXED ASSETS

Tangible assets

4

290,035

422,549

CURRENT ASSETS

Stocks

9,300

9,300

Debtors

5

77,079

93,529

Cash at bank

-

554

86,379

103,383

CREDITORS

Amounts falling due within one year

6

311,865

329,969

NET CURRENT LIABILITIES

(225,486

)

(226,586

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,549

195,963

CREDITORS

Amounts falling due after more than one year

7

76,830

144,744

NET (LIABILITIES)/ASSETS

(12,281

)

51,219

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(12,283

)

51,217

(12,281

)

51,219

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 15 March 2018 and were signed by:

P E Abram - Director

1.	STATUTORY INFORMATION

Abrams Bulk Haulage (East Anglia) Ltd 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.

These accounts are the first set to be prepared by the company under FRS 102. On transition a review has

been carried out of the previously recognised amounts to identify any that would need to be restated under the

new standards, but no adjustments were required.

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 etc

-

15% on 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

768,809

Disposals

(207,213

)

At 30 September 2017

561,596

DEPRECIATION

At 1 October 2016

346,260

Charge for year

49,356

Eliminated on disposal

(124,055

)

At 30 September 2017

271,561

NET BOOK VALUE

At 30 September 2017

290,035

At 30 September 2016

422,549

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

77,079

93,529

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

93,223

70,208

Hire purchase contracts and finance leases

65,146

60,277

Trade creditors

24,746

71,621

Taxation and social security

16,208

4,000

Other creditors

112,542

123,863

311,865

329,969

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

35,585

40,532

Hire purchase contracts and finance leases

41,245

104,212

76,830

144,744

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

18,125

23,072

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdrafts

88,858

65,843

Bank loans

39,950

44,897

Hire purchase contracts and finance leases

106,391

164,489

235,199

275,229

The bank loan and overdraft are secured by a fixed and floating charge over the company's assets.

The hire purchase agreements are secured on the assets being financed.