REGISTERED NUMBER: 06653755 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 July 2016

for

AB Wire Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A H Brown

Mrs C M Brown

A H Brown

REGISTERED OFFICE:

C/o Prydis Accounts Ltd

The Parade

Liskeard

Cornwall

PL14 6AF

REGISTERED NUMBER:

06653755 (England and Wales)

ACCOUNTANTS:

Prydis Accounts Limited

Chartered Accountants

The Parade

Liskeard

Cornwall

PL14 6AF

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

1,565

1,209

Investments

4

-

53,128

1,565

54,337

CURRENT ASSETS

Debtors

5

81,594

23,884

Cash at bank and in hand

41,410

52,525

123,004

76,409

CREDITORS

Amounts falling due within one year

6

19,281

20,580

NET CURRENT ASSETS

103,723

55,829

TOTAL ASSETS LESS CURRENT LIABILITIES

105,288

110,166

PROVISIONS FOR LIABILITIES

7

190

93

NET ASSETS

105,098

110,073

CAPITAL AND RESERVES

Called up share capital

8

100

100

Revaluation reserve

9

-

10,628

Profit and loss account

9

104,998

99,345

SHAREHOLDERS' FUNDS

105,098

110,073

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2016 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.

The financial statements were approved by the Board of Directors on 25 January 2017 and were signed on its behalf by:

A H Brown - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective January

2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax. Turnover is recognised when the

company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2010, has been amortised

evenly over its estimated useful life of two 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 etc

-

25% on reducing balance

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

Foreign currencies

Assets, liabilities and transactions in foreign currencies are translated into sterling at the rates of exchange

ruling at the balance sheet date.

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 the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2015

and 31 July 2016

38,500

AMORTISATION

At 1 August 2015

and 31 July 2016

38,500

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

-

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2015

3,195

Additions

878

At 31 July 2016

4,073

DEPRECIATION

At 1 August 2015

1,986

Charge for year

522

At 31 July 2016

2,508

NET BOOK VALUE

At 31 July 2016

1,565

At 31 July 2015

1,209

4.	FIXED ASSET INVESTMENTS

Listed

investments

£

COST OR VALUATION

At 1 August 2015

53,128

Disposals

(53,128

)

At 31 July 2016

-

NET BOOK VALUE

At 31 July 2016

-

At 31 July 2015

53,128

Cost or valuation at 31 July 2016 is represented by:

Listed

investments

£

Valuation in 2013

2,212

Valuation in 2014

2,960

Valuation in 2015

5,456

Valuation in 2016

(10,628

)

Fixed asset investments were restated at cost on disposal.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Amounts recoverable on contract

19,118

10,935

Other debtors

49,236

-

Directors' current accounts

13,172

12,890

VAT

68

59

81,594

23,884

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.16

31.7.15

£

£

Corporation Tax

17,694

19,121

Social security and other taxes

137

9

Accrued expenses

1,450

1,450

19,281

20,580

7.	PROVISIONS FOR LIABILITIES

31.7.16

31.7.15

£

£

Deferred tax

190

93

Deferred

tax

£

Balance at 1 August 2015

93

Charge to Profit and Loss Account during year

97

Balance at 31 July 2016

190

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.7.16

31.7.15

value:

£

£

100

Ordinary

£1

100

100

9.

RESERVES

Profit

and loss

Revaluation

account

reserve

Totals

£

£

£

At 1 August 2015

99,345

10,628

109,973

Profit for the year

71,653

71,653

Dividends

(66,000

)

(66,000

)

Transfer to Profit & Loss

-

(10,628

)

(10,628

)

At 31 July 2016

104,998

-

104,998

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2016 and

31 July 2015:

31.7.16

31.7.15

£

£

A H Brown and Mrs C M Brown

Balance outstanding at start of year

12,890

(3,163

)

Amounts advanced

81,492

75,783

Amounts repaid

(81,210

)

(59,730

)

Balance outstanding at end of year

13,172

12,890

11.	RELATED PARTY DISCLOSURES

Mr T Brown who is the grandson of Mr & Mrs Brown works for the company under a self-employed basis. The

payments are based upon a commercial rate for hours worked, amounting to £6,000 for the year.

12.	ULTIMATE CONTROLLING PARTY