REGISTERED NUMBER: 06138438 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abacus (NW) Powder Coatings Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Simon Rubin Kelly

Mrs Beverley Elizabeth Kelly

SECRETARY:

Mrs Beverley Elizabeth Kelly

REGISTERED OFFICE:

134 Hospital Road

Bromley Cross

Bolton

Lancashire

BL7 9QB

REGISTERED NUMBER:

06138438 (England and Wales)

ACCOUNTANTS:

DonnellyBentley Limited

Chartered Accountants

Hazlemere

70 Chorley New Road

Bolton

Lancashire

BL1 4BY

FIXED ASSETS

Intangible assets

4

-

6,000

Tangible assets

5

19,346

28,897

19,346

34,897

CURRENT ASSETS

Stocks

10,000

10,000

Debtors

303,715

348,353

Cash at bank

37,013

-

350,728

358,353

CREDITORS

Amounts falling due within one year

114,498

111,092

NET CURRENT ASSETS

236,230

247,261

TOTAL ASSETS LESS CURRENT LIABILITIES

255,576

282,158

CREDITORS

Amounts falling due after more than one year

(13,012

)

(18,194

)

PROVISIONS FOR LIABILITIES

7

(3,676

)

(5,580

)

NET ASSETS

238,888

258,384

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

238,886

258,382

SHAREHOLDERS' FUNDS

238,888

258,384

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 directors acknowledge their 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.

All the members have consented to the preparation of an abridged Profit and Loss Account and an abridged Balance Sheet for the year ended 31 March 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 1 September 2017 and were signed on its behalf by:

Mr Simon Rubin Kelly - Director

1.	STATUTORY INFORMATION

Abacus (NW) Powder Coatings 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured

at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Improvements to property

-

20% on cost

Plant and machinery

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

25% on cost

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 Profit and Loss

Account, 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.

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 8 .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

60,000

AMORTISATION

At 1 April 2016

54,000

Amortisation for year

6,000

At 31 March 2017

60,000

NET BOOK VALUE

At 31 March 2017

-

At 31 March 2016

6,000

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2016

and 31 March 2017

110,523

DEPRECIATION

At 1 April 2016

81,626

Charge for year

9,551

At 31 March 2017

91,177

NET BOOK VALUE

At 31 March 2017

19,346

At 31 March 2016

28,897

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

Totals

£

COST

At 1 April 2016

32,374

Transfer to ownership

(5,250

)

At 31 March 2017

27,124

DEPRECIATION

At 1 April 2016

8,969

Charge for year

7,831

Transfer to ownership

(3,238

)

At 31 March 2017

13,562

NET BOOK VALUE

At 31 March 2017

13,562

At 31 March 2016

23,405

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

-

2,423

Hire purchase contracts

18,195

24,952

18,195

27,375

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

3,676

5,580

Deferred

tax

£

Balance at 1 April 2016

5,580

Provided during year

(1,904

)

Balance at 31 March 2017

3,676

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2017 and

31 March 2016:

2017

2016

£

£

Mr Simon Rubin Kelly and Mrs Beverley Elizabeth Kelly

Balance outstanding at start of year

201,832

168,397

Amounts advanced

42,382

133,435

Amounts repaid

(150,000

)

(100,000

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

94,214

201,832