REGISTERED NUMBER: 07163281 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

ABACUS TELECOM LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr AD Boyce

SECRETARY:

Westco Nominees Ltd

REGISTERED OFFICE:

20-22 Wenlock Road

London

N1 7GU

REGISTERED NUMBER:

07163281 (England and Wales)

CURRENT ASSETS

Debtors

4

5,019

216,714

Cash at bank

44,130

29,574

49,149

246,288

CREDITORS

Amounts falling due within one year

5

15,789

212,984

NET CURRENT ASSETS

33,360

33,304

TOTAL ASSETS LESS CURRENT LIABILITIES

33,360

33,304

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

7

33,358

33,302

SHAREHOLDERS' FUNDS

33,360

33,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 director on 28 March 2018 and were signed by:

Mr AD Boyce - Director

1.	STATUTORY INFORMATION

Abacus Telecom Ltd 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 represents net invoiced sales of services, excluding value added tax.

FOREIGN CURRENCIES

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 of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

5,001

216,714

Other debtors

18

-

5,019

216,714

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

5,626

169,104

Taxation and social security

5,856

37,472

Other creditors

4,307

6,408

15,789

212,984

Included within other creditors is an amount owed to the directors of £4,309 (2015: £48,083).

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

2

Ordinary

£1

2

2

7.

RESERVES

Retained

earnings

£

At 1 July 2016

33,302

Profit for the year

18,056

Dividends

(18,000

)

At 30 June 2017

33,358

8.	RELATED PARTY DISCLOSURES

Dividends amounting to £9,000 (2016: £75,000) were issued to Mr I Patterson and £9,000 (2016: £75,000) to

Mr A Boyce who are both directors as at 30 June 2017.