REGISTERED NUMBER: 04182831 (England and Wales)

A B GLASS (DOORS & WINDOWS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2017

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

A Brayley

J E Morgan

N Harvey

Mrs S Newton

REGISTERED OFFICE:

Clifford House

Felinfach

Swansea West Industrial Park

Fforestfach

Swansea

SA5 4HF

REGISTERED NUMBER:

04182831 (England and Wales)

ACCOUNTANTS:

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Tangible assets

4

712,694

691,154

CURRENT ASSETS

Stocks

92,273

102,678

Debtors

1,045,680

1,188,646

Cash at bank and in hand

916,046

442,935

2,053,999

1,734,259

CREDITORS

Amounts falling due within one year

924,926

1,147,590

NET CURRENT ASSETS

1,129,073

586,669

TOTAL ASSETS LESS CURRENT LIABILITIES

1,841,767

1,277,823

CREDITORS

Amounts falling due after more than one year

5

(774,277

)

(812,024

)

PROVISIONS FOR LIABILITIES

(22,204

)

(19,944

)

ACCRUALS AND DEFERRED INCOME

(8,317

)

(9,785

)

NET ASSETS

1,036,969

436,070

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

7

303,709

303,709

Retained earnings

733,160

132,261

SHAREHOLDERS' FUNDS

1,036,969

436,070

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 January 2017 in accordance with Section 444(2A) of the Companies Act 2006.

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 20 April 2017 and were signed on its behalf by:

A Brayley - Director

1.	STATUTORY INFORMATION

A B Glass (Doors & Windows) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

2% on cost

Plant and machinery

-

15% reducing balance

Motor vehicles

-

25% reducing balance

Computer equipment

-

25% on cost

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 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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those

held under finance leases are depreciated over their estimated useful lives or the lease term,

whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The

capital element of the future payments is treated as a liability.

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.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered.

Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short

maturity of three months or less from the date of acquisition or opening of the deposit or similar

account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and

constructive) resulting from a past event that will probably result in the transfer of funds to a third party

and the amount due to settle the obligation can be measured or estimated reliably. Creditors and

provisions are normally recognised at their settlement amount after allowing for any trade discounts

due.

Transition to frs 102

These financial statements for the year ended 31 January 2017 are the first financial statements that

comply with FRS 102 Section 1A small entities. On transition to FRS 102 a holiday pay accrual was

recognised in the comparative year, decreasing retained earnings and other creditors by £3,000. No

other adjustments were made to the the opening balances at the date of transition or the comparative

year. The transition date was 1 February 2016.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST OR VALUATION

At 1 February 2016

941,624

Additions

66,788

Disposals

(17,040

)

At 31 January 2017

991,372

DEPRECIATION

At 1 February 2016

250,470

Charge for year

36,515

Eliminated on disposal

(8,307

)

At 31 January 2017

278,678

NET BOOK VALUE

At 31 January 2017

712,694

At 31 January 2016

691,154

Cost or valuation at 31 January 2017 is represented by:

Totals

£

Valuation in 2013

255,320

Cost

736,052

991,372

If the freehold property had not been revalued it would have been included at the following historical

cost:

2017

2016

£

£

Cost

354,680

354,680

Aggregate depreciation

69,670

62,577

The freehold property, including the land with the benefit of planning permission, was valued on a

Market Value basis on the 17th June 2013 by Astleys Chartered Surveyors.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST OR VALUATION

At 1 February 2016

61,879

Additions

45,985

Disposals

(17,040

)

Transfer to ownership

(4,750

)

At 31 January 2017

86,074

DEPRECIATION

At 1 February 2016

13,489

Charge for year

14,468

Eliminated on disposal

(8,307

)

Transfer to ownership

3,046

At 31 January 2017

22,696

NET BOOK VALUE

At 31 January 2017

63,378

At 31 January 2016

48,390

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

409,221

440,629

Hire purchase contracts

39,675

24,821

Trade creditors

325,381

346,574

774,277

812,024

6.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

434,525

480,905

Hire purchase contracts

62,885

40,816

497,410

521,721

Bank loans and overdrafts are secured by way of a debenture and a fixed and floating charge over the

assets of the company.

Hire purchase liabilities are secured by the assets to which the agreement relates, and are included

within tangible fixed assets.

7.

RESERVES

Revaluation

reserve

£

At 1 February 2016

and 31 January 2017

303,709

8.	RELATED PARTY DISCLOSURES

Included in debtors is the balance of £215,570 (2016: £200,596) owed from AB Properties Limited, the

parent company. Mr A Brayley owns 100% of issued share capital of this company.

9.	ULTIMATE CONTROLLING PARTY

A Brayley has ultimate control of the company by virtue of his 100% shareholding in AB Properties

Limited.

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 Abridged Income

Statement and certain other primary statements and the Report of the Directors are not required to be

filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of A B Glass (Doors & Windows) Limited for the year ended 31 January 2017 which

comprise the Abridged Income Statement, Abridged Balance Sheet, and the related notes from the

company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of A B Glass (Doors & Windows) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A B Glass (Doors & Windows) Limited and state those matters that we have agreed to state to the Board of Directors of A B Glass (Doors & Windows) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A B Glass (Doors & Windows) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A B Glass (Doors & Windows) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of A B Glass (Doors & Windows) Limited. You consider that A B Glass (Doors & Windows) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of A B Glass (Doors & Windows) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Bevan & Buckland

Chartered Accountants

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

20 April 2017