REGISTERED NUMBER: 04930043 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2017

for

Ab Metalworks Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

PR Mitchell

T Saleng

SECRETARY:

REGISTERED OFFICE:

2 Angel Lane

DUNMOW

Essex

CM6 1AQ

REGISTERED NUMBER:

04930043 (England and Wales)

ACCOUNTANTS:

Simpson Forbes Accountants

Unit 6,CherryTree Farm

Blackmore End Road

Sible Hedingham

Essex

CO9 3LZ

FIXED ASSETS

Intangible assets

4

1,125

-

Tangible assets

5

36,433

32,771

37,558

32,771

CURRENT ASSETS

Stocks

4,000

4,000

Debtors

6

196,961

150,761

Prepayments and accrued income

-

1,200

Cash at bank

260,527

122,783

461,488

278,744

CREDITORS

Amounts falling due within one year

7

145,528

66,274

NET CURRENT ASSETS

315,960

212,470

TOTAL ASSETS LESS CURRENT LIABILITIES

353,518

245,241

PROVISIONS FOR LIABILITIES

6,423

5,913

NET ASSETS

347,095

239,328

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

347,093

239,326

SHAREHOLDERS' FUNDS

347,095

239,328

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 March 2018 and were signed on its behalf by:

PR Mitchell - Director

1.	STATUTORY INFORMATION

Ab Metalworks 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.

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.

Development costs are being amortised evenly over their estimated useful life of nil years.

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

-

25% on cost

Fixtures and fittings

-

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 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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 10 (2016 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

1,500

At 31 December 2017

1,500

AMORTISATION

Charge for year

375

At 31 December 2017

375

NET BOOK VALUE

At 31 December 2017

1,125

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

153,462

Additions

25,648

At 31 December 2017

179,110

DEPRECIATION

At 1 January 2017

120,691

Charge for year

21,986

At 31 December 2017

142,677

NET BOOK VALUE

At 31 December 2017

36,433

At 31 December 2016

32,771

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

196,961

150,761

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

31,051

14,772

Taxation and social security

99,586

48,468

Other creditors

14,891

3,034

145,528

66,274

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2017 and

31 December 2016:

2017

2016

£

£

PR Mitchell

Balance outstanding at start of year

(1,429

)

2,705

Amounts repaid

-

(4,134

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

(1,429

)

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £73,600 (2016 - £34,890) were paid to the directors .

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.