Abastra Environmental Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02335679 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2018

FOR

ABASTRA ENVIRONMENTAL LTD

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C C Lawrence

C Lawrence

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

02335679 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

FIXED ASSETS

Tangible assets

4

109,632

98,274

CURRENT ASSETS

Stocks

18,000

3,000

Debtors

209,772

262,828

Cash at bank and in hand

101,768

82,175

329,540

348,003

CREDITORS

Amounts falling due within one year

228,569

234,250

NET CURRENT ASSETS

100,971

113,753

TOTAL ASSETS LESS CURRENT LIABILITIES

210,603

212,027

CREDITORS

Amounts falling due after more than one year

(51,043

)

(54,682

)

PROVISIONS FOR LIABILITIES

(6,654

)

(4,439

)

NET ASSETS

152,906

152,906

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

152,806

152,806

SHAREHOLDERS' FUNDS

152,906

152,906

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 Statement of Financial Position for the year ended 31st October 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 30th July 2019 and were signed on its behalf by:

C Lawrence - Director

1.	STATUTORY INFORMATION

Abastra Environmental 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.

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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents the fair value of services provided, excluding value added tax, once the income and related costs

incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance

Stocks and work in progress

Stocks and work in progress are valued at the lower of cost and net realisable value. Cost includes direct materials,

labour costs and those overheads that have been incurred to bring the stock to its present location and condition.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement

of financial position 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

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the

lessor are charged to the profit and loss account on a straight line basis over the lease term.

Assets under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The

corresponding lease and hire purchase obligation is treated in the balance sheet as a liability. The interest element of

rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the

outstanding balance of capital repayments.

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.

Website development

In accordance with standard practice, it is the company's policy to write off any website development costs in the

year they are incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 13 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st November 2017

201,010

Additions

51,457

Disposals

(16,392

)

At 31st October 2018

236,075

DEPRECIATION

At 1st November 2017

102,736

Charge for year

34,336

Eliminated on disposal

(10,629

)

At 31st October 2018

126,443

NET BOOK VALUE

At 31st October 2018

109,632

At 31st October 2017

98,274

The net book value of the assets above include £65,641 (2017 - £83,444) for motor vehicles under hire purchase

contracts. Depreciation for these assets, amounting to £21,261 (2017 - £8,331).

5.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

65,170

1,311

Hire purchase contracts

64,406

67,852

129,576

69,163

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2018 and

31st October 2017:

2018

2017

£

£

C Lawrence

Balance outstanding at start of year

35,004

36,964

Amounts advanced

54,719

47,118

Amounts repaid

(58,683

)

(49,078

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

31,040

35,004

C C Lawrence

Balance outstanding at start of year

17,988

22,698

Amounts advanced

51,973

33,807

Amounts repaid

(45,875

)

(38,517

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

24,086

17,988

Various amounts were advanced to the directors with no variable rate interest charged, with the advance being

repayable on demand.

7.	RELATED PARTY DISCLOSURES

During the year, total dividends of £92,000 (2017 - £80,000) were paid to the directors .