REGISTERED NUMBER: 07210421 (England and Wales)

ABLEWORLD FRANCHISE LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2016

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M J C Williams

Ms A Fraser

P W Boniface

N D Cox

SECRETARY:

N D Cox

REGISTERED OFFICE:

C/O Ableworld Alpha Building

Stapeley Technology Park

London Road

Nantwich

Cheshire

CW5 7JW

REGISTERED NUMBER:

07210421 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,871

-

CURRENT ASSETS

Debtors

5

215,210

131,215

Cash at bank

63,784

38,726

278,994

169,941

CREDITORS

Amounts falling due within one year

6

(167,004

)

(196,666

)

NET CURRENT ASSETS/(LIABILITIES)

111,990

(26,725

)

TOTAL ASSETS LESS CURRENT LIABILITIES

114,861

(26,725

)

PROVISIONS FOR LIABILITIES

(545

)

-

NET ASSETS/(LIABILITIES)

114,316

(26,725

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

114,216

(26,825

)

SHAREHOLDERS' FUNDS

114,316

(26,725

)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 30 May 2017 and were signed on its behalf by:

N D Cox - Director

1.	STATUTORY INFORMATION

Ableworld Franchise 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 Financial Reporting Standard 102 Section

1A "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. The date of transition

to FRS 102 Section 1A (which has had no effect on the company's position and performance) was 1 September

2014 and the end of the comparative period was 31 August 2015.

The financial statements are presented in sterling which is the functional currency of the company and

rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade

discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from franchise fees and monthly

management and advertising fees is recognised by reference to the stage of completion at the balance sheet

date. Stage of completion is measured by monthly sales

Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses

recognised that are recoverable

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

-

33% on reducing balance and 20% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of

operating as intended.

Tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax

rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the

balance sheet date that are expected to apply to the reversal of timing differences.

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.

Employee 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.

When employees have rendered service to the company, short-term employee benefits to which the

employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that

service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are

expensed as they become payable.

Rebates

Rebates are recognised in the financial statements when it is virtually certain they are due and payable.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2015 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

Additions

3,141

At 31 August 2016

3,141

DEPRECIATION

Charge for year

270

At 31 August 2016

270

NET BOOK VALUE

At 31 August 2016

2,871

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

141,649

108,612

Bad debt provision

(3,600

)

-

Amounts owed by group undertakings

52,732

-

Other debtors

24,429

-

Prepayments

-

22,603

215,210

131,215

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade creditors

29,166

37,174

Amounts owed to group undertakings

85,633

129,983

Tax

7,065

-

VAT

34,167

9,292

Other creditors

9,098

12,854

Accrued expenses

1,875

7,363

167,004

196,666

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

8.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Stonier (Senior Statutory Auditor)

for and on behalf of Deans