IRIS Accounts Production v18.1.0.975 SC068218 Board of Directors 1.9.16 31.8.17 31.8.17 false true false false true false 13355 13355 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC0682182016-08-31SC0682182017-08-31SC0682182016-09-012017-08-31SC0682182015-08-31SC0682182015-09-012016-08-31SC0682182016-08-31SC068218ns15:Scotland2016-09-012017-08-31SC068218ns14:PoundSterling2016-09-012017-08-31SC068218ns10:Director12016-09-012017-08-31SC068218ns10:PrivateLimitedCompanyLtd2016-09-012017-08-31SC068218ns10:SmallEntities2016-09-012017-08-31SC068218ns10:AuditExempt-NoAccountantsReport2016-09-012017-08-31SC068218ns10:SmallCompaniesRegimeForDirectorsReport2016-09-012017-08-31SC068218ns10:SmallCompaniesRegimeForAccounts2016-09-012017-08-31SC068218ns10:AbridgedAccounts2016-09-012017-08-31SC068218ns10:Director2422016-09-012017-08-31SC068218ns10:Director2422017-08-31SC068218ns10:Director22016-09-012017-08-31SC068218ns10:Director42016-09-012017-08-31SC068218ns10:RegisteredOffice2016-09-012017-08-31SC068218ns5:CurrentFinancialInstruments2017-08-31SC068218ns5:CurrentFinancialInstruments2016-08-31SC068218ns5:ShareCapital2017-08-31SC068218ns5:ShareCapital2016-08-31SC068218ns5:RetainedEarningsAccumulatedLosses2017-08-31SC068218ns5:RetainedEarningsAccumulatedLosses2016-08-31SC068218ns5:PlantMachinery2016-09-012017-08-31SC068218ns5:MotorVehicles2016-09-012017-08-31SC068218ns10:Director112016-08-31SC068218ns10:Director112015-08-31SC068218ns10:Director112016-09-012017-08-31SC068218ns10:Director112015-09-012016-08-31SC068218ns10:Director112017-08-31SC068218ns10:Director112016-08-31


REGISTERED NUMBER: SC068218 (Scotland)















Financial Statements For The Year Ended 31 August 2017

for

Abba Sealants Limited

Abba Sealants Limited (Registered number: SC068218)






Contents of the Financial Statements
For The Year Ended 31 August 2017




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Abba Sealants Limited

Company Information
For The Year Ended 31 August 2017







DIRECTORS: J McShane
Mrs I McShane
R Rough





REGISTERED OFFICE: 12 Hanson Street
Glasgow
G31 2JW





REGISTERED NUMBER: SC068218 (Scotland)





ACCOUNTANTS: Robb Ferguson
Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Abba Sealants Limited (Registered number: SC068218)

Abridged Statement of Financial Position
31 August 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,138 42,850

CURRENT ASSETS
Stocks 16,858 12,149
Debtors 316,577 205,397
Cash at bank and in hand 188,821 349,122
522,256 566,668
CREDITORS
Amounts falling due within one year 148,935 143,948
NET CURRENT ASSETS 373,321 422,720
TOTAL ASSETS LESS CURRENT
LIABILITIES

405,459

465,570

PROVISIONS FOR LIABILITIES 6,105 8,569
NET ASSETS 399,354 457,001

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 399,254 456,901
SHAREHOLDERS' FUNDS 399,354 457,001

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

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

Abba Sealants Limited (Registered number: SC068218)

Abridged Statement of Financial Position - continued
31 August 2017


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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 24 May 2018 and were signed on its behalf by:





J McShane - Director


Abba Sealants Limited (Registered number: SC068218)

Notes to the Financial Statements
For The Year Ended 31 August 2017

1. STATUTORY INFORMATION

Abba Sealants Limited is a private company, limited by shares , registered in Scotland. 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 (£).


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 represents net invoiced sales of services, excluding value added tax. Turnover is recognised when
services are performed.

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 reducing balance
Motor vehicles - 25% 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 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 statement of financial position date.

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

Abba Sealants Limited (Registered number: SC068218)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2017

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2016 - 15 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2016
and 31 August 2017 109,808
DEPRECIATION
At 1 September 2016 66,958
Charge for year 10,712
At 31 August 2017 77,670
NET BOOK VALUE
At 31 August 2017 32,138
At 31 August 2016 42,850

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 August 2017 and
31 August 2016:

2017 2016
£    £   
J McShane and Mrs I McShane
Balance outstanding at start of year - -
Amounts advanced 13,355 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 13,355 -

6. RELATED PARTY DISCLOSURES

A.P.C.S. (Scotland) Ltd

A company in which J McShane and Mrs I McShane are shareholders


2017 2016
£    £   
Amount due (to)/from related party at the balance sheet date (4,085 ) 330

7. ULTIMATE CONTROLLING PARTY

The ultimate parent company is A.P.C.S. (Scotland) Limited, a company registered in Scotland. A.P.C.S.
(Scotland) Limited's registered office is 12 Hanson Street, Glasgow, G31 2JW. The principle place of business is
12 Hanson Street, Glasgow, G31 2JW.

Abba Sealants Limited (Registered number: SC068218)

Notes to the Financial Statements - continued
For The Year Ended 31 August 2017

8. FIRST YEAR ADOPTION

The company has adopted FRS 102 section 1A for the year ended 31 August 2017. There were no restatements
required to comparative figures.