ABLEDENE LIMITED

TRADING AS

THE GERMAN MOTOR CO

FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2017

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

PJ Salvage

REGISTERED OFFICE:

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

REGISTERED NUMBER:

03011007 (England and Wales)

ACCOUNTANTS:

Halsey & Co (Accountants) Ltd.

Chartered Certified Accountants

Registered Auditors

2 Villiers Court

40 Upper Mulgrave Road

Cheam

Surrey

SM2 7AJ

FIXED ASSETS

Tangible assets

4

92,562

102,938

CURRENT ASSETS

Stocks

33,975

33,975

Debtors

5

112,956

50,325

Cash at bank and in hand

29,584

22,391

176,515

106,691

CREDITORS

Amounts falling due within one year

6

190,274

173,903

NET CURRENT LIABILITIES

(13,759

)

(67,212

)

TOTAL ASSETS LESS CURRENT LIABILITIES

78,803

35,726

CREDITORS

Amounts falling due after more than one year

7

63

4,328

NET ASSETS

78,740

31,398

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

78,738

31,396

SHAREHOLDERS' FUNDS

78,740

31,398

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director on 15th November 2017 and were signed by:

PJ Salvage - Director

1.	STATUTORY INFORMATION

Abledene 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.

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in

bringing stocks to their present location and condition.

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 12 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

leasehold

machinery

fittings

£

£

£

COST

At 1st March 2016

104,491

79,389

16,793

At 28th February 2017

104,491

79,389

16,793

DEPRECIATION

At 1st March 2016

27,252

67,910

11,673

Charge for year

4,180

2,870

1,280

At 28th February 2017

31,432

70,780

12,953

NET BOOK VALUE

At 28th February 2017

73,059

8,609

3,840

At 29th February 2016

77,239

11,479

5,120

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st March 2016

44,013

-

244,686

Additions

-

305

305

At 28th February 2017

44,013

305

244,991

DEPRECIATION

At 1st March 2016

34,913

-

141,748

Charge for year

2,275

76

10,681

At 28th February 2017

37,188

76

152,429

NET BOOK VALUE

At 28th February 2017

6,825

229

92,562

At 29th February 2016

9,100

-

102,938

5.

DEBTORS

28.2.17

29.2.16

£

£

Amounts falling due within one year:

Trade debtors

16,859

17,209

Other debtors

81,348

30,867

98,207

48,076

Amounts falling due after more than one year:

Other debtors

14,749

2,249

Aggregate amounts

112,956

50,325

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

29.2.16

£

£

Bank loans and overdrafts

13,822

21,997

Trade creditors

81,440

78,835

Taxation and social security

75,354

53,783

Other creditors

19,658

19,288

190,274

173,903

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.17

29.2.16

£

£

Other creditors

63

4,328

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.17

29.2.16

value:

£

£

2

ordinary

£1

2

2

9.	FIRST YEAR ADOPTION

This is the first year that the company has presented its results under FRS 102. The last financial statements

under UK GAAP were for the period ended 29th February 2016. The date of transition to FRS 102 was 1 .

March 2015. There have been no significant changes in accounting policies for the company as the result of

transition to FRS102 and a reconciliation of profit for the period ended 29th Feb 2016 and equity as at 1 March

2015 and 29th February 2016 between UK GAAP as previously reported and FRS 102 are not required as there

are no changes to the figures presented.