REGISTERED NUMBER: 03046229 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

ABS LABORATORIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr C Feyerabend

SECRETARY:

Dr M V Doig

REGISTERED OFFICE:

14 Stratford Road

Sandy

Bedfordshire

SG19 2AB

REGISTERED NUMBER:

03046229 (England and Wales)

ACCOUNTANTS:

Bayar Hughes & Co

Chartered Certified Accountants

4 Green Lane Business Park

238 Green lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Tangible assets

4

221,994

68,045

CURRENT ASSETS

Stocks

5

10,117

8,140

Debtors

6

244,720

227,850

Investments

7

-

333,590

Cash at bank

358,937

339,895

613,774

909,475

CREDITORS

Amounts falling due within one year

8

252,566

99,162

NET CURRENT ASSETS

361,208

810,313

TOTAL ASSETS LESS CURRENT LIABILITIES

583,202

878,358

CREDITORS

Amounts falling due after more than one year

9

140,181

168,400

NET ASSETS

443,021

709,958

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

10

442,921

709,858

SHAREHOLDERS' FUNDS

443,021

709,958

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 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 14 September 2017 and were signed by:

Mr C Feyerabend - Director

1.	STATUTORY INFORMATION

ABS Laboratories 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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and

trade discounts.

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

Motor Vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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 10 .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Machinery

Vehicles

Totals

£

£

£

COST

At 1 April 2016

1,320,814

19,720

1,340,534

Additions

228,217

-

228,217

Disposals

(12,000

)

-

(12,000

)

At 31 March 2017

1,537,031

19,720

1,556,751

DEPRECIATION

At 1 April 2016

1,253,347

19,142

1,272,489

Charge for year

74,124

144

74,268

Eliminated on disposal

(12,000

)

-

(12,000

)

At 31 March 2017

1,315,471

19,286

1,334,757

NET BOOK VALUE

At 31 March 2017

221,560

434

221,994

At 31 March 2016

67,467

578

68,045

5.

STOCKS

2017

2016

£

£

Stocks

10,117

8,140

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

129,522

25,920

Other debtors

115,198

201,930

244,720

227,850

7.	CURRENT ASSET INVESTMENTS

2017

2016

£

£

Other investments

-

333,590

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

28,027

27,904

Trade creditors

192,583

29,676

Taxation and social security

16,257

31,334

Other creditors

15,699

10,248

252,566

99,162

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

140,181

168,400

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

39,864

10.

RESERVES

Retained

earnings

£

At 1 April 2016

709,858

Profit for the year

92,273

Dividends

(359,210

)

At 31 March 2017

442,921

11.	PENSION COSTS

The company operates a defined contribution scheme for its employees. The assets of the scheme are held

separately from those of the company in an independently administered fund.