Abson Blaza Limited

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—8

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 June 2015	100	60,002	60,102
Profit for the year and total comprehensive income	-	38,238	38,238

Dividends paid	-	(47,000)	(47,000)

As at 31 May 2016 and 1 June 2016	100	51,240	51,340


Profit for the year and total comprehensive income	-	61,747	61,747

Dividends paid	-	(60,360)	(60,360)

As at 31 May 2017	100	52,627	52,727

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Statement of Compliance

These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Transition to FRS 102

The entity transitioned from previous UK GAAP to FRS 102 as at 1 June 2015.

Details of how FRS 102 has affected the reported financial position and financial performance is given in note 17.

1.2. Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

1.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.

1.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Motor Vehicles	25% per annum on reducing balance basis
Computer Equipment	15% per annum on reducing balance basis

1.5. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful 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 included in the creditors net of the finance charge 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 profit and loss account as incurred.

1.6. Deferred Taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date.

Page 4

Abson Blaza Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

1.7. Registrar Filing Requirements

The company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the profit and loss account, directors report, and notes to the financial statements relating to the profit and loss account. The notes which are not included have been hidden but original note numbering has remained the same for those that are present.

3. Staff Costs

Staff costs, including directors' remuneration, were as follows:

	2017	2016
	£	£
Wages and salaries	45,080	39,568
Other pension costs	3,600	3,600

	48,680	43,168

4. Average number of employees

Average number of employees, including directors, during the year was as follows:

	2017	2016
Office and administration	4	4

	4	4

5. Interest Payable

	2017	2016
	£	£
Finance charges payable under finance leases and hire purchase contracts	-	837

	-	837

7. Intangible Assets

	Goodwill
	£
Cost
As at 1 June 2016	35,781

As at 31 May 2017	35,781

Amortisation
As at 1 June 2016	10,734
Provided during the period	3,578

As at 31 May 2017	14,312

Net Book Value
As at 31 May 2017	21,469

As at 1 June 2016	25,047

Page 5

Abson Blaza Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

8. Tangible Assets


	Motor Vehicles	Computer Equipment	Total
	£	£	£
Cost
As at 1 June 2016	26,257	23,124	49,381
Disposals	(26,257 )	-	(26,257 )

As at 31 May 2017	-	23,124	23,124

Depreciation
As at 1 June 2016	11,487	18,284	29,771
Provided during the period	-	726	726
Disposals	(11,487 )	-	(11,487 )

As at 31 May 2017	-	19,010	19,010

Net Book Value
As at 31 May 2017	-	4,114	4,114

As at 1 June 2016	14,770	4,840	19,610

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2017	2016
	£	£
Motor Vehicles	-	14,770

	-	14,770

9. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	2,208	8,840
Prepayments and accrued income	-	1,064

	2,208	9,904

Page 6

Abson Blaza Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

10. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Net obligations under finance lease and hire purchase contracts	-	3,567
Trade creditors	64,228	67,789
Corporation tax	16,478	11,348
Other taxes and social security	-	126
VAT	8,732	7,572
Accruals and deferred income	8,400	1,300
Director's loan account	79	1,730

	97,917	93,432

11. Obligations Under Finance Leases and Hire Purchase

	2017	2016
	£	£
The maturity of these amounts is as follows:
Amounts Payable:
Within one year	-	3,567
Between one and five years	-	-

	-	3,567

	-	3,567

12. Deferred Taxation

	2017	2016
	£	£
As at 1 June 2016	-	218
Deferred taxation	-	(218 )


Deferred tax	-	-

The provision for deferred taxation is made up of accelerated capital allowances

13. Share Capital

	Value	Number	2017	2016
Allotted, called up and fully paid	£		£	£
Ordinary shares	1.000	100	100	100

14. Transactions With and Loans to Directors

Dividends paid to directors

Page 7

Abson Blaza Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 31 May 2017

	2017	2016
	£	£
Mr Stephen Abson	30,180	23,500

15. Dividends

	2017	2016
	£	£
On equity shares:
Final dividend paid	60,360	47,000

	60,360	47,000

16. Ultimate Controlling Party

The company's ultimate controlling party is Stephen Abson by virtue of his ownership of 50% of the issued share capital in the company.

17. Transition to FRS 102

These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 June 2015.

No transitional adjustments were required in equity or profit or loss for the year.

18. General Information

Abson Blaza Limited Registered number 07252907 is a limited by shares company incorporated in England & Wales. The Registered Office is 7 Bannockburn Way, Altofts, Normanton, WF6 2SQ.

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	7		21,469		25,047
Tangible Assets	8		4,114		19,610

			25,583		44,657
CURRENT ASSETS
Debtors	9	2,208		9,904
Cash at bank and in hand		122,853		90,211

		125,061		100,115
Creditors: Amounts Falling Due Within One Year	10	(97,917 )		(93,432 )

NET CURRENT ASSETS (LIABILITIES)			27,144		6,683

TOTAL ASSETS LESS CURRENT LIABILITIES			52,727		51,340

NET ASSETS			52,727		51,340

CAPITAL AND RESERVES
Called up share capital	13		100		100
Profit and loss account			52,627		51,240

SHAREHOLDERS' FUNDS			52,727		51,340