| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| ABTAP LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2017 |
| FOR |
| ABTAP LIMITED |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| ABTAP LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MAY 2017 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 149/151 Sparrows Herne |
| Bushey Heath |
| Watford |
| Hertfordshire |
| WD23 1AQ |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| BALANCE SHEET |
| 31 MAY 2017 |
| 2017 | 2016 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 3 |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 10 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Other reserves | 12 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| BALANCE SHEET - continued |
| 31 MAY 2017 |
| 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. |
| 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 |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 1. | STATUTORY INFORMATION |
| Abtap Limited is a |
| and registered office address can be found on the Company Information page. |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any |
| accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value |
| is recognised in profit or loss. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company contributes to a work place pension scheme (NEST) in line with its obligations under auto enrolment. |
| Contibutions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 3. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 June 2016 |
| and 31 May 2017 |
| AMORTISATION |
| At 1 June 2016 |
| and 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 June 2016 |
| Additions |
| At 31 May 2017 |
| DEPRECIATION |
| At 1 June 2016 |
| Charge for year |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2016 |
| Revaluations | 40,904 |
| At 31 May 2017 |
| NET BOOK VALUE |
| At 31 May 2017 |
| At 31 May 2016 |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 5. | INVESTMENT PROPERTY - continued |
| Fair value at 31 May 2017 is represented by: |
| £ |
| Valuation in 2017 | 40,904 |
| Cost | 151,096 |
| 192,000 |
| 6. | STOCKS |
| 2017 | 2016 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Trade debtors |
| Prepayments and accrued income |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2017 | 2016 |
| £ | £ |
| Bank loans and overdrafts (see note 9) |
| Trade creditors |
| Tax |
| Social security and other taxes |
| Other creditors |
| Directors' current accounts | 24,592 | 202,264 |
| Accruals and deferred income |
| 9. | LOANS |
| An analysis of the maturity of loans is given below: |
| 2017 | 2016 |
| £ | £ |
| Amounts falling due within one year or on demand: |
| Bank overdrafts |
| 10. | PROVISIONS FOR LIABILITIES |
| 2017 | 2016 |
| £ | £ |
| Deferred tax | 8,667 | 1,192 |
| ABTAP LIMITED (REGISTERED NUMBER: 04807591) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MAY 2017 |
| 10. | PROVISIONS FOR LIABILITIES - continued |
| Deferred |
| tax |
| £ |
| Balance at 1 June 2016 |
| Charge to Income Statement during year |
| Balance at 31 May 2017 |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2017 | 2016 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| 12. | RESERVES |
| Retained | Other |
| earnings | reserves | Totals |
| £ | £ | £ |
| At 1 June 2016 | 619,053 |
| Profit for the year |
| Dividends | ( |
) | ( |
) |
| Fair value adjustment transfer |
| to other reserves | (40,904 | ) | - | (40,904 | ) |
| Transfer from retained |
| earnings | - | 40,904 | 40,904 |
| At 31 May 2017 | 622,343 |
| Included in other reserves is an amount of £40,904 which represents the fair value adjustment in respect of investment |
| properties (see note 9). This amount cannot be distributed to the members as it represents an un-reaslised surplus in |
| respect of the fair value adjustment pertaining to the investment properties and has been transferred from retained |
| earnings. |
| 13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
| P Peake, the director of the company, is the owner of the property from which the company trades. During the year the |
| company paid rent of £48,000 (2016: £48,000) to P Peake, which is considered to be the market rental value. |
| 14. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £370,000 (2016 - £290,000) were paid to the director . |