ABEX INFOWAY (EUROPE) LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr K B Patel

REGISTERED OFFICE:

Unit 1

Sherbourne House

South Harrow

Middlesex

HA2 0LH

REGISTERED NUMBER:

04066461

ACCOUNTANTS:

Akshar & Company

Chartered Accountants

221 Kenton Lane

Harrow

Middlesex

HA3 8RP

BANKERS:

Barclays Bank Plc

Alperton Branch

220 Ealing Road

Wembley

Middlesex

HA0 4QH

FIXED ASSETS

Tangible assets

4

539

719

Investment property

5

1,192,458

1,095,912

1,192,997

1,096,631

CURRENT ASSETS

Stocks

40,122

35,437

Debtors

6

644,026

367,016

Cash at bank

553,287

496,849

1,237,435

899,302

CREDITORS

Amounts falling due within one year

7

195,572

73,262

NET CURRENT ASSETS

1,041,863

826,040

TOTAL ASSETS LESS CURRENT LIABILITIES

2,234,860

1,922,671

PROVISIONS FOR LIABILITIES

20,575

9,788

NET ASSETS

2,214,285

1,912,883

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

8

220,147

123,601

Retained earnings

1,994,038

1,789,182

SHAREHOLDERS' FUNDS

2,214,285

1,912,883

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 14 November 2017 and were signed by:

Mr K B Patel - Director

1.	STATUTORY INFORMATION

Abex Infoway (Europe) Limited is a private company, limited by shares , registered in Not specified/Other. 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 as modified by the revaluation of certain assets.

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.

Computer equipment

-

25% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes

in fair value is recognised in profit or loss.

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.

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 3 .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2016

and 31 March 2017

7,786

DEPRECIATION

At 1 April 2016

7,067

Charge for year

180

At 31 March 2017

7,247

NET BOOK VALUE

At 31 March 2017

539

At 31 March 2016

719

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

1,095,912

Revaluations

96,546

At 31 March 2017

1,192,458

NET BOOK VALUE

At 31 March 2017

1,192,458

At 31 March 2016

1,095,912

Fair value at 31 March 2017 is represented by:

£

Valuation in 2016

1,095,912

Valuation in 2017

96,546

1,192,458

If investment properties had not been revalued they would have been included at the following historical cost:

2017

2016

£

£

Cost

972,311

972,311

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

580,849

314,772

Other debtors

63,177

52,244

644,026

367,016

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

84,399

14,474

Taxation and social security

59,835

21,977

Other creditors

51,338

36,811

195,572

73,262

8.

RESERVES

Fair

value

reserve

£

At 1 April 2016

123,601

Investment revaluation reserve

96,546

At 31 March 2017

220,147