Above Board Components Limited

Contents
	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—6

Registered number: 05694221

		2017		2016
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		969		1,140

			969		1,140
CURRENT ASSETS
Stocks	6	500		7,121
Debtors	7	591		370
Cash at bank and in hand		217		555

		1,308		8,046
Creditors: Amounts Falling Due Within One Year	8	(7,515 )		(6,952 )

NET CURRENT ASSETS (LIABILITIES)			(6,207 )		1,094

TOTAL ASSETS LESS CURRENT LIABILITIES			(5,238 )		2,234

NET ASSETS			(5,238 )		2,234

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and loss account			(5,338 )		2,134

SHAREHOLDERS' FUNDS			(5,238)		2,234

Page 1

Balance Sheet (continued)

As at 28 February 2017

For the year ending 28 February 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities

The member has 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The Company has taken advantage of Companies Act 2006 section 444(1) and opted not to file the Profit and Loss Account

On behalf of the board

Mr Sean Marchant

9th November 2017

	Share Capital	Profit & Loss Account	Total
	£	£	£
As at 1 March 2015	100	7,808	7,908
Loss for the year and total comprehensive income	-	(5,674 )	(5,674)

As at 28 February 2016 and 29 February 2016	100	2,134	2,234


Loss for the year and total comprehensive income	-	(7,472 )	(7,472)

As at 28 February 2017	100	(5,338 )	(5,238)

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

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. 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:

Plant & Machinery	15% reducing balance
Fixtures & Fittings	15% reducing balance
Computer Equipment	3 years straight line

1.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.5. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

1.6. Deferred Taxation

Defened tax is recognised in respect of all timing differences that have originated but not revesed at the balance sheet date.

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.

4. Average number of employees

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

	2017	2016
Office and administration	1	1

	1	1

Page 4

Above Board Components Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 28 February 2017

5. Tangible Assets


	Plant & Machinery	Fixtures & Fittings	Computer Equipment	Total
	£	£	£	£
Cost
As at 29 February 2016	1,949	1,653	1,919	5,521

As at 28 February 2017	1,949	1,653	1,919	5,521

Depreciation
As at 29 February 2016	1,501	961	1,919	4,381
Provided during the period	67	104	-	171

As at 28 February 2017	1,568	1,065	1,919	4,552

Net Book Value
As at 28 February 2017	381	588	-	969

As at 29 February 2016	448	692	-	1,140

6. Stocks

	2017	2016
	£	£
Stock - materials and work in progress	500	7,121

	500	7,121

7. Debtors

	2017	2016
	£	£
Due within one year
Trade debtors	591	221
Other debtors	-	149

	591	370

Page 5

Above Board Components Limited

Notes to the Unaudited Accounts (continued)

For The Year Ended 28 February 2017

8. Creditors: Amounts Falling Due Within One Year

	2017	2016
	£	£
Trade creditors	28	134
Corporation tax	(464 )	(464 )
VAT	506	644
Net wages	5,220	5,220
Other creditors	573	-
Accruals and deferred income	450	600
Director's loan account	1,202	818

	7,515	6,952

9. Share Capital

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

10. Related Party Transactions

Mr S Marchant

Director and shareholder

Included in other creditors is £1,202 owed to Mr S Marchant

11. Ultimate Controlling Party

The company's ultimate controlling party is Mr S Marchant by virtue of his ownership of 100% of the issued share capital in the company.

12. General Information

Above Board Components Limited Registered number 05694221 is a limited by shares company incorporated in England & Wales. The Registered Office is 1 Sovereign Business Park, 48 Willis Way, Poole, Dorset, BH15 3TB.