REGISTERED NUMBER: 03780661 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2018

for

Abacus Shutters Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D J Atkins

B E Atkins

SECRETARY:

Mrs D L Atkins

REGISTERED OFFICE:

13 The Avenue

Witham

Essex

CM8 2DN

REGISTERED NUMBER:

03780661 (England and Wales)

ACCOUNTANTS:

Wood & Disney Limited

Lodge Park

Lodge Lane

Langham

Colchester

Essex

CO4 5NE

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

45,029

33,501

Investment property

6

560,000

437,495

605,029

470,996

CURRENT ASSETS

Stocks

750

677

Debtors

100,138

156,548

Cash at bank

335,667

234,761

436,555

391,986

CREDITORS

Amounts falling due within one year

76,762

47,748

NET CURRENT ASSETS

359,793

344,238

TOTAL ASSETS LESS CURRENT LIABILITIES

964,822

815,234

PROVISIONS FOR LIABILITIES

23,276

-

NET ASSETS

941,546

815,234

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

941,544

815,232

941,546

815,234

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2018 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 May 2018 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 November 2018 and were signed on its behalf by:

B E Atkins - Director

D J Atkins - Director

1.	STATUTORY INFORMATION

Abacus Shutters 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil 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.

Short leasehold

-

20% on cost

Motor vehicles

-

20% on reducing balance

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.

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 6 (2017 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

and 31 May 2018

5,000

AMORTISATION

At 1 June 2017

and 31 May 2018

5,000

NET BOOK VALUE

At 31 May 2018

-

At 31 May 2017

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 June 2017

121,930

Additions

24,610

Disposals

(12,723

)

At 31 May 2018

133,817

DEPRECIATION

At 1 June 2017

88,429

Charge for year

13,082

Eliminated on disposal

(12,723

)

At 31 May 2018

88,788

NET BOOK VALUE

At 31 May 2018

45,029

At 31 May 2017

33,501

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2017

437,495

Revaluations

122,505

At 31 May 2018

560,000

NET BOOK VALUE

At 31 May 2018

560,000

At 31 May 2017

437,495

Fair value at 31 May 2018 is represented by:

£

Valuation in 2018

122,505

Cost

437,495

560,000