REGISTERED NUMBER: 10176533 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12TH MAY 2016 TO 31ST MAY 2017

FOR

ABOVE & BEYOND ADVENTURE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Smith

Mrs T L Binns-Smith

REGISTERED OFFICE:

West End House

Whalton

Morpeth

Northumberland

NE61 3XD

BUSINESS ADDRESS:

Unit 59C

South Nelson Road

South Nelson Industrial Estate

Cramlington

Northumberland

NE23 1WF

REGISTERED NUMBER:

10176533 (England and Wales)

ACCOUNTANTS:

P.M.Stafford Chartered Accountants

22 Foyle Street

Sunderland

Tyne and Wear

SR1 1LE

FIXED ASSETS

Intangible assets

4

22,500

Tangible assets

5

63,212

85,712

CURRENT ASSETS

Stocks

6

80,435

Debtors

7

16,306

Cash at bank and in hand

3,072

99,813

CREDITORS

Amounts falling due within one year

8

175,326

NET CURRENT LIABILITIES

(75,513

)

TOTAL ASSETS LESS CURRENT LIABILITIES

10,199

CAPITAL AND RESERVES

Called up share capital

9

2

Retained earnings

10,197

SHAREHOLDERS' FUNDS

10,199

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 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 12th February 2018 and were signed on its behalf by:

D A Smith - Director

1.	STATUTORY INFORMATION

Above & Beyond Adventure 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.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out

below.

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 arising on business combinations is capitalised, classified as an asset on the balance sheet

and amortised on a straight line basis over it's useful life. The period chosen for writing off goodwill

is 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Website

-

25% on cost

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% 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 period 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 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

Additions

25,000

At 31st May 2017

25,000

AMORTISATION

Amortisation for period

2,500

At 31st May 2017

2,500

NET BOOK VALUE

At 31st May 2017

22,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

Website

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

Additions

65,930

271

17,940

117

84,258

At 31st May 2017

65,930

271

17,940

117

84,258

DEPRECIATION

Charge for period

16,482

41

4,485

38

21,046

At 31st May 2017

16,482

41

4,485

38

21,046

NET BOOK VALUE

At 31st May 2017

49,448

230

13,455

79

63,212

6.

STOCKS

£

Stocks

80,435

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade debtors

15,921

Other debtors

385

16,306

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

145,829

Tax

6,708

Social security and other taxes

518

VAT

394

Directors' loan accounts

12,129

Accruals and deferred income

9,748

175,326

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

value:

£

2

Ordinary

£1

2

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance

sheet amount to £807.