AB Audio Visual Ltd

	Registered number
	04380312

	AB Audio Visual Ltd
	Unaudited Accounts
	for the year ended
	30 April 2017

AB Audio Visual Ltd Balance Sheet as at 30 April 2017
	Notes		2017 £		2016 £
Fixed assets
Tangible assets	5		81,090		98,170
			81,090		98,170

Current assets
Stocks		42,160		82,140
Debtors	6	53,542		118,577
Cash at bank and in hand		80,830		83,145
		176,532		283,862

Prepayments and accrued income:		3,318		0

Creditors: amounts falling due within one year	7	(79,928)		(152,203)

Net current assets / (liabilities)			99,922		131,659

Total assets less current liabilities			181,012		229,829

Creditors: amounts falling due after more than one year	8		(77,592)		(106,027)

Provisions for liabilities	9		(9,883)		(12,042)

Accruals and deferred income			(1,800)		(0)

Total net assets (liabilities)			91,737		111,760

Capital and reserves
Called up share capital			2		2
Profit and loss account			91,735		111,758
Shareholders' funds			91,737		111,760

These accounts have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The directors have not delivered a copy of the company's Profit and Loss account as permitted by s444(5A) of the Companies Act 2006.

For the year ending 30 April 2017 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Signed on behalf of the board of directors

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

Mr G Blackburn

Director

Approved by the board on 23 February 2018

Company No: 04380312 (England and Wales)

1.	Accounting policies
	Basis of preparation of financial statements These financial statements have been prepared under the historic cost convention in accordance with the accounting policies set out below and with section 1A of FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The presentation currency is sterling.
	Changes in accounting standards, policies and estimates The transition to a new accounting standard has resulted to some changes in the accounting policies. The nature of these changes, and any impact on the values displayed for the comparative period, are explained in the notes below where applicable.

Tangible fixed assets depreciation policy

Tangible fixed assets are stated at cost less accumulated depreciation and impairment losses. Depreciation is provided, after taking account of any grants receivable, at rates calculated to write off the cost of fixed assets, less the estimated residual value, over their estimated useful lives.

Plant & machinery	18% Reducing Balance
Office equipment	18% Reducing Balance
Vehicles	18% Reducing Balance

	Stocks
	Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

Stocks

Stocks are valued at the lower of cost and net realisable value after taking into account costs of completion and sale. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. The amount of any write-down to net realisable value, and all losses of stock, are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down is recognised as a reduction in the amount of stock expensed in the period in which the reversal occurs.

	Deferred taxation
	Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

Deferred taxation

Taxation represents the sum of tax currently payable and deferred tax. Current tax is calculated using tax rates that have been enacted or substantially enacted at the end of the reporting period. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of part of the asset to be recovered.

	Leases and hire purchase contracts
	Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful economic lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

Leases and hire purchase contracts

Assets obtained under hire purchase contracts are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful economic lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are are included in creditors net of finance charges allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight line basis over the lease term.

	Pensions
	The company operates a defined contribution pension scheme, with contributions charged to the profit and loss account for the year in which they are payable to the scheme.

Taxation
	2017	2016
	£	£
UK Corporation Tax	9,365	20,649
Deferred tax	(2,159)	12,042
Tax on profit/(loss) on ordinary activities	7,206	32,691

Directors' remuneration
	2017	2016
	£	£
Directors remuneration	8,072	8,064
Company contributions to defined benefit schemes	9,237	39,035
Total	17,309	47,099

The number of directors accruing pension benefits was:	1	1

Employees
	2017	2016
Average number of employees during the period	6	0

Tangible fixed assets
	Buildings	Plant & machinery	Office equipment	Vehicles	Total
Cost or valuation	£	£	£	£	£
At 1 May 2016	3,277	10,285	36,378	111,199	161,139
At 30 April 2017	3,277	10,285	36,378	111,199	161,139
Depreciation
At 1 May 2016	0	9,864	26,734	26,371	62,969
Charge for the period	0	76	1,735	15,269	17,080
At 30 April 2017	0	9,940	28,469	41,640	80,049
Net book value
At 30 April 2017	3,277	345	7,909	69,559	81,090
At 30 April 2016	3,277	421	9,644	84,828	98,170

Debtors
	2017	2016
	£	£
Trade debtors	53,542	114,399
Other debtors	0	4,178
	53,542	118,577

Creditors: amounts falling due within one year
	2017	2016
	£	£
Trade creditors	23,105	82,379
Other creditors	56,823	69,824
	79,928	152,203

Creditors: amounts falling due after one year
	2017	2016
	£	£
Other	77,592	106,027
	77,592	106,027

Provisions
	2017	2016
	£	£
Deferred tax	9,883	12,042
	9,883	12,042

Dividends
	2017	2016
	£	£
Total dividend payment	49,000	57,520