Abel AG-Tech Limited - Accounts to registrar (filleted)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABEL AG-TECH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C W Abel

Mrs J Abel

REGISTERED OFFICE:

Preston Park House

South Road

Brighton

East Sussex

BN1 6SB

REGISTERED NUMBER:

01707562 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,438

633

CURRENT ASSETS

Debtors

5

8,472

13,544

Cash at bank and in hand

43,641

36,202

52,113

49,746

CREDITORS

Amounts falling due within one year

6

(19,981

)

(31,771

)

NET CURRENT ASSETS

32,132

17,975

TOTAL ASSETS LESS CURRENT
LIABILITIES

33,570

18,608

PROVISIONS FOR LIABILITIES

7

(273

)

(127

)

NET ASSETS

33,297

18,481

CAPITAL AND RESERVES

Called up share capital

8

100

Retained earnings

33,197

18,381

SHAREHOLDERS' FUNDS

33,297

18,481

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 22 November 2017 and were signed on its behalf
by:

C W Abel - Director

1.	STATUTORY INFORMATION

Abel AG-Tech 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.

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.

The impact on the financial statements from transition to FRS 102 has been disclosed in the notes to the financial

statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates and

these estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates

are recognised in the period in which the estimate is revised if the revision affects only that period, or in the

period of the revision and future periods if the revision affects both current and future periods.

The items in the financial statements where these judgements and estimates have been made include the useful

economic life of tangible fixed assets, the depreciation of these assets/provisions/investments/ recoverability of

debtors.

Turnover

Turnover represents the fair value of consideration received or receivable net of VAT and trade discounts.

Revenue from the sale of services is recognised at the point of sale.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended by management.

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

life.

Fixtures & fittings

- 25% reducing balance

Computer equipment

- 33% on cost

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of

the entity after deducting all of its financial liabilities.

Impairment policy

At each balance sheet date, the company reviews the carrying amount of its assets to determine whether there is

any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable

amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not

possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the

cash-generating unit to which the asset belongs.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue in existence for

the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its

financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

COST

At 1 April 2016

2,630

2,134

4,764

Additions

-

1,438

At 31 March 2017

2,630

3,572

6,202

DEPRECIATION

At 1 April 2016

1,997

2,134

4,131

Charge for year

158

475

633

At 31 March 2017

2,155

2,609

4,764

NET BOOK VALUE

At 31 March 2017

475

963

1,438

At 31 March 2016

633

-

633

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

8,264

13,265

Other debtors

208

279

8,472

13,544

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade creditors

4

1,776

Taxation and social security

18,230

11,351

Other creditors

1,747

18,644

19,981

31,771

7.	PROVISIONS FOR LIABILITIES

2017

2016

£

Deferred tax

273

127

Deferred

tax

£

Balance at 1 April 2016

127

Accelerated capital allowances

146

Balance at 31 March 2017

273

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

96

Ordinary

£1

96

1

Ordinary A

£1

1

Ordinary B

£1

1

Ordinary C

£1

1

Ordinary D

£1

1

100

9.	FIRST YEAR ADOPTION

On transition to FRS 102 the entity's accounting policies applied under the entity's previous accounting

framework are not materially different to FRS 102 and have not impacted on equity or profit or loss.