Abelau Limited - Filleted accounts

Registered number

07313608

Abelau Limited

Report and Accounts

31 August 2017

Abelau Limited
Registered number:		07313608
Balance Sheet
as at 31 August 2017

Notes		2017		2016
		£	£	£	£
Fixed assets
Intangible assets	2		5,600		6,400
Tangible assets	3		8,671		6,256
			14,271		12,656

Current assets
Debtors	4	495,496		68,752
Cash at bank and in hand		223,215		460,506
		718,711		529,259

Creditors: amounts falling due within one year	5	(501,925)		(477,867)

Net current assets			216,786		51,392

Total assets less current liabilities			231,057		64,048

Provisions for liabilities			(1,647)		-

Net assets			229,409		64,048

Capital and reserves
Called up share capital			100		100
Profit and loss account			229,309		63,948

Shareholders' funds			229,409		64,048

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


Mark Robertson
Director
Approved by the board on 4 April 2018

Abelau Limited
Notes to the Accounts
for the year ended 31 August 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Equipment	straight line 2 years
	Fixtures and fittings	straight line 10 years

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Intangible fixed assets			£
	Goodwill:

	Cost
	At 1 September 2016			8,000
	At 31 August 2017			8,000

	Amortisation
	At 1 September 2016			1,600
	Provided during the year			800
	At 31 August 2017			2,400

	Net book value
	At 31 August 2017			5,600
	At 31 August 2016			6,400

	Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.


3	Tangible fixed assets
				Equipment, fixtures and fittings
				£
	Cost
	At 1 September 2016			18,963
	Additions			5,488
	At 31 August 2017			24,450

	Depreciation
	At 1 September 2016			12,707
	Charge for the year			3,073
	At 31 August 2017			15,779

	Net book value
	At 31 August 2017			8,671
	At 31 August 2016			6,256




4	Debtors		2017	2016
			£	£

	Trade debtors		343,639	43,175
	Other debtors and prepayments		151,857	25,577
			495,496	68,752


5	Creditors: amounts falling due within one year		2017	2016
			£	£

	Trade creditors		15,000	3,810
	Corporation tax		91,010	89,508
	Other taxes and social security costs		72,093	66,819
	Other creditors and accruals		323,822	317,729
			501,925	477,867


6	Other information

	Abelau Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Wychwood Cranes Lane
	Kingston
	Cambridge
	CB23 2NJ