A & B Group Limited - Period Ending 2016-04-30

A & B Group Limited

Unaudited Abbreviated Accounts

for the Year Ended 30 April 2016

TCS Business Management Limited
Faveo House, 2 Somerville Court
Banbury Business Park
Adderbury
Banbury
Oxfordshire
OX17 3SN

A & B Group Limited
Contents

Accountants' Report

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

3 to 5

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 5) have been prepared.

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
A & B Group Limited
for the Year Ended 30 April 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A & B Group Limited for the year ended 30 April 2016 set out on pages from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of A & B Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A & B Group Limited and state those matters that we have agreed to state to them, as a body, in this report with the Board of Directors of A & B Group Limited. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A & B Group Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A & B Group Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of A & B Group Limited. You consider that A & B Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of A & B Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

TCS Business Management Limited
Faveo House, 2 Somerville Court
Banbury Business Park
Adderbury
Banbury
Oxfordshire
OX17 3SN

11 January 2017

Page 1

A & B Group Limited
(Registration number: 5343031)
Abbreviated Balance Sheet at 30 April 2016

	Note	2016 £	2015 £
Fixed assets
Intangible fixed assets		180,000	190,000
Tangible fixed assets		11,849	7,007
Investments		100	100
		191,949	197,107
Current assets
Stocks		129,078	82,489
Debtors		792,800	891,998
Cash at bank and in hand		68,316	130,972
		990,194	1,105,459
Creditors: Amounts falling due within one year		(970,776)	(1,258,888)
Net current assets/(liabilities)		19,418	(153,429)
Total assets less current liabilities		211,367	43,678
Provisions for liabilities		(2,370)	(1,402)
Net assets		208,997	42,276
Capital and reserves
Called up share capital	3	1,000	1,000
Profit and loss account		207,997	41,276
Shareholders' funds		208,997	42,276

For the year ending 30 April 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 11 January 2017

.........................................
Mr Barry Taylor
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

A & B Group Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	Straight line 5%

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Plant and machinery	Reducing balance 10%
Motor vehicles	Reducing balance 25%
Office equipment	Reducing balance 25%

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Page 3

A & B Group Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by the FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

2	Fixed assets

	Intangible assets £	Tangible assets £	Investments £	Total £
Cost
At 1 May 2015	200,000	7,618	100	207,718
Additions	-	5,844	-	5,844
At 30 April 2016	200,000	13,462	100	213,562
Depreciation
At 1 May 2015	10,000	611	-	10,611
Charge for the year	10,000	1,002	-	11,002
At 30 April 2016	20,000	1,613	-	21,613
Net book value
At 30 April 2016	180,000	11,849	100	191,949
At 30 April 2015	190,000	7,007	100	197,107

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
A & B Decorators Limited	Ordinary shares	100%	Commercial painting and decorating

Page 4

A & B Group Limited
Notes to the Abbreviated Accounts for the Year Ended 30 April 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2016			2015
		No.	£		No.	£
Ordinary Shares of £1 each		1,000	1,000		1,000	1,000

Page 5