REGISTERED NUMBER: 06547019 (England and Wales)

Financial Statements for the Year Ended 31 March 2017

for

Abigas Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTORS:

Mrs B A Lloyd

P R Lloyd

SECRETARY:

Mrs B A Lloyd

REGISTERED OFFICE:

Area A, Unit 4

Radley Road Industrial Estate

Radley Road

Abingdon

Oxfordshire

OX14 3RY

REGISTERED NUMBER:

06547019 (England and Wales)

ACCOUNTANTS:

Westell Accountants

3 Bradfield Court

Drayton Mill, Milton Road

Drayton

Abingdon

Oxfordshire

OX14 4EF

FIXED ASSETS

Intangible assets

4

8,000

16,000

Tangible assets

5

13,294

16,481

21,294

32,481

CURRENT ASSETS

Stocks

49,952

55,678

Debtors

6

11,518

33,052

Cash at bank and in hand

101,261

101,817

162,731

190,547

CREDITORS

Amounts falling due within one year

7

156,044

182,035

NET CURRENT ASSETS

6,687

8,512

TOTAL ASSETS LESS CURRENT LIABILITIES

27,981

40,993

PROVISIONS FOR LIABILITIES

2,659

3,296

NET ASSETS

25,322

37,697

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

25,222

37,597

SHAREHOLDERS' FUNDS

25,322

37,697

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 directors acknowledge their 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 Board of Directors on 22 August 2017 and were signed on its behalf by:

Mrs B A Lloyd - Director

P R Lloyd - Director

1.	STATUTORY INFORMATION

Abigas 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

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

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance and 20% 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 9 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

80,000

AMORTISATION

At 1 April 2016

64,000

Charge for year

8,000

At 31 March 2017

72,000

NET BOOK VALUE

At 31 March 2017

8,000

At 31 March 2016

16,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

55,090

Additions

828

At 31 March 2017

55,918

DEPRECIATION

At 1 April 2016

38,609

Charge for year

4,015

At 31 March 2017

42,624

NET BOOK VALUE

At 31 March 2017

13,294

At 31 March 2016

16,481

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

5,651

27,116

Other debtors

5,867

5,936

11,518

33,052

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

-

1,425

Trade creditors

39,568

49,915

Taxation and social security

25,284

11,334

Other creditors

91,192

119,361

156,044

182,035

The following reproduces the text of the report prepared for the directors and members in respect of the

company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is

only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other

primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2017 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Westell Accountants

3 Bradfield Court

Drayton Mill, Milton Road

Drayton

Abingdon

Oxfordshire

OX14 4EF

Date: .............................................