REGISTERED NUMBER: 03956270 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2017

FOR

ABTECH PRECISION ENGINEERING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

SA Phillips

Mrs TD Phillips

SECRETARY:

Mrs TD Phillips

REGISTERED OFFICE:

Unit 8

108 Hawley Lane

Farnborough

Hampshire

GU14 8JE

REGISTERED NUMBER:

03956270 (England and Wales)

ACCOUNTANTS:

Accounting Partnership Ltd

Basepoint

377-399 London Road

Camberley

Surrey

GU15 3HL

FIXED ASSETS

Intangible assets

4

63,000

73,500

Tangible assets

5

209,815

203,157

272,815

276,657

CURRENT ASSETS

Stocks

30,000

15,000

Debtors

6

229,282

249,459

Cash at bank and in hand

853,043

524,384

1,112,325

788,843

CREDITORS

Amounts falling due within one year

7

341,987

342,454

NET CURRENT ASSETS

770,338

446,389

TOTAL ASSETS LESS CURRENT LIABILITIES

1,043,153

723,046

CREDITORS

Amounts falling due after more than one year

8

56,354

44,041

NET ASSETS

986,799

679,005

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

986,789

678,995

SHAREHOLDERS' FUNDS

986,799

679,005

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 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 15 March 2018 and were signed on its behalf by:

SA Phillips - Director

Mrs TD Phillips - Director

1.	STATUTORY INFORMATION

Abtech Precision Engineering 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 2003, is being amortised evenly over its estimated useful life of twenty 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2016

and 30 June 2017

210,000

AMORTISATION

At 1 July 2016

136,500

Charge for year

10,500

At 30 June 2017

147,000

NET BOOK VALUE

At 30 June 2017

63,000

At 30 June 2016

73,500

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2016

762,764

Additions

95,459

Disposals

(97,000

)

At 30 June 2017

761,223

DEPRECIATION

At 1 July 2016

559,607

Charge for year

69,937

Eliminated on disposal

(78,136

)

At 30 June 2017

551,408

NET BOOK VALUE

At 30 June 2017

209,815

At 30 June 2016

203,157

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

Plant and

machinery

etc

£

COST

At 1 July 2016

388,662

Additions

95,000

At 30 June 2017

483,662

DEPRECIATION

At 1 July 2016

266,449

Charge for year

54,303

At 30 June 2017

320,752

NET BOOK VALUE

At 30 June 2017

162,910

At 30 June 2016

122,213

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

229,077

249,459

Other debtors

205

-

229,282

249,459

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Hire purchase contracts

38,534

55,477

Trade creditors

70,237

72,476

Amounts owed to group undertakings

85,967

83,024

Taxation and social security

144,549

128,777

Other creditors

2,700

2,700

341,987

342,454

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Hire purchase contracts

56,354

44,041

9.	SECURED DEBTS

10.	RELATED PARTY DISCLOSURES

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr S Phillips and Mrs T Phillips, the directors of the company.