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REGISTERED NUMBER: 04048285 (England and Wales)















ABLEWORLD (UK) LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2016






ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ABLEWORLD (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2016







DIRECTORS: M J C Williams
P W Boniface
Ms A Fraser
N D Cox





SECRETARY: N D Cox





REGISTERED OFFICE: C/O Ableworld Alpha Building
Stapeley Technology Park
London Road
Nantwich
Cheshire
CW5 7JW





REGISTERED NUMBER: 04048285 (England and Wales)

ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

BALANCE SHEET
31 AUGUST 2016

2016 2015
Notes £    £   
FIXED ASSETS
Intangible assets 4 6,496 -
Tangible assets 5 131,133 78,740
137,629 78,740

CURRENT ASSETS
Stocks 771,957 690,525
Debtors 6 670,265 493,683
Cash at bank and in hand 395,761 485,574
1,837,983 1,669,782
CREDITORS
Amounts falling due within one year 7 (1,362,368 ) (1,257,653 )
NET CURRENT ASSETS 475,615 412,129
TOTAL ASSETS LESS CURRENT LIABILITIES 613,244 490,869

CAPITAL AND RESERVES
Called up share capital 8 900,000 900,000
Retained earnings (286,756 ) (409,131 )
SHAREHOLDERS' FUNDS 613,244 490,869

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 30 May 2017 and were signed on its behalf by:





N D Cox - Director


ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2016


1. STATUTORY INFORMATION

Ableworld (UK) 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 Financial Reporting Standard 102 Section
1A "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. The date of transition
to FRS 102 Section 1A (which has had no effect on the company's position and performance) was 1 September
2014 and the end of the comparative period was 31 August 2015.

The financial statements are presented in sterling which is the functional currency of the company and
rounded to the nearest £.

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

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade
discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods
Turnover from the sale of mobility aids and stairlifts is recognised when significant risks and rewards of
ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is
probable that the economic benefits associated with the transaction will flow to the company and the costs
incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of
the goods.

Interest
Interest income is recognised using the effective interest method and dividend income is recognised as the
company's right to receive payment is established.

Goodwill
Goodwill arising on business combinations is capitalised, classified as an asset on the balance sheet and
amortised on a straight line basis over its useful life. The period chosen for writing off goodwill is 5 years.
Provision is made for any impairment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property
Plant and machinery - Straight line over 3 years
Fixtures and fittings - 3-5 years on cost
Computer equipment - Straight line over 3 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and
accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of
operating as intended.

ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2016


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes
all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and
condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and
slow-moving stock where appropriate.

Tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax
rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as
stated in the financial statements that arise from the inclusion of income and expense in tax assessments in
periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date that are expected to apply to the reversal of timing differences.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the
lease.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that
service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are
expensed as they become payable.

Going concern
Based on future budgets and cashflow forecasts the company continues to make profits and accordingly the
accounts have been prepared on a going concern basis.

Purchase rebates
Purchase rebates are recognised in the financial statements when it is virtually certain they are due and
payable.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other
administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 98 (2015 - 85 ) .

ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2016


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 6,496
At 31 August 2016 6,496
NET BOOK VALUE
At 31 August 2016 6,496

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 September 2015 65,203 52,719 234,064 54,416 406,402
Additions 24,496 9,024 49,460 13,594 96,574
Disposals (485 ) (15,847 ) (16,396 ) (5,651 ) (38,379 )
At 31 August 2016 89,214 45,896 267,128 62,359 464,597
DEPRECIATION
At 1 September 2015 39,167 47,255 200,458 40,782 327,662
Charge for year 8,538 3,508 22,852 9,283 44,181
Eliminated on disposal (485 ) (15,847 ) (16,396 ) (5,651 ) (38,379 )
At 31 August 2016 47,220 34,916 206,914 44,414 333,464
NET BOOK VALUE
At 31 August 2016 41,994 10,980 60,214 17,945 131,133
At 31 August 2015 26,036 5,464 33,606 13,634 78,740

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 79,324 74,683
Amounts owed by group undertakings 282,588 141,983
Other debtors 18,611 20,547
VAT 119,673 80,972
Accrued income 54,212 68,420
Prepayments 115,857 107,078
670,265 493,683

ABLEWORLD (UK) LIMITED (REGISTERED NUMBER: 04048285)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2016


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Bank loans and overdrafts 22,895 161,325
Other loans 7,050 -
Trade creditors 1,107,702 788,179
Tax - 1,035
Social security and other taxes 34,640 32,045
Pension creditor 2,285 5,627
Other creditors 90,847 81,584
Accrued expenses 96,949 187,858
1,362,368 1,257,653

8. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2016 2015
value: £    £   
900,000 Ordinary £1 900,000 900,000

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Stonier (Senior Statutory Auditor)
for and on behalf of Deans

10. FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet
amount to £1,560,757 (2015 - £1,716,331).