Abtec Building Technologies Ltd - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 07851560 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 January 2018

for

Abtec Building Technologies Ltd

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

A Beynon

D J Watkins

REGISTERED OFFICE:

Barents House

Compass Point

Market Harborough

Leicestershire

LE16 9HW

REGISTERED NUMBER:

07851560 (England and Wales)

ACCOUNTANTS:

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

The following reproduces the text of the report prepared for the directors 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 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 Abtec Building Technologies Ltd for the year ended 31 January 2018

which comprise the Income Statement, 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 Abtec Building Technologies Ltd, 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 Abtec Building Technologies Ltd and state those matters that we have agreed to state to the Board of Directors of Abtec Building Technologies Ltd, 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 Abtec Building Technologies Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abtec Building Technologies Ltd 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 Abtec Building Technologies Ltd. You consider that Abtec Building Technologies Ltd 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 Abtec Building Technologies Ltd. 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.

The Rowleys Partnership Ltd

Chartered Accountants

Charnwood House

Harcourt Way

Meridian Business Park

Leicester

Leicestershire

LE19 1WP

10 July 2018

FIXED ASSETS

Tangible assets

4

22,089

33,974

CURRENT ASSETS

Stocks

27,998

52,852

Debtors

5

278,211

239,028

Cash at bank

232,822

107,780

539,031

399,660

CREDITORS

Amounts falling due within one year

6

214,791

233,383

NET CURRENT ASSETS

324,240

166,277

TOTAL ASSETS LESS CURRENT LIABILITIES

346,329

200,251

CAPITAL AND RESERVES

Called up share capital

7

101

101

Retained earnings

346,228

200,150

SHAREHOLDERS' FUNDS

346,329

200,251

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

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

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 10 July 2018 and were signed on its behalf by:

D J Watkins - Director

1.	STATUTORY INFORMATION

Abtec Building Technologies 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 goods and services, excluding VAT, except in respect of

service contracts where turnover is recognised when the company obtains the right to

consideration. Sales of goods are recognised on date of invoice. Where a contract has only been

partially completed at the balance sheet date turnover represents the value of the service provided

to date based on a proportion of the total expected consideration at completion.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on cost

Stocks

The finished goods are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

The work in progress has been valued in accordance with FRS102.

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 taxation

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.

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.

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 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 February 2017

5,630

44,178

49,808

Additions

208

-

208

At 31 January 2018

5,838

44,178

50,016

DEPRECIATION

At 1 February 2017

4,790

11,044

15,834

Charge for year

1,048

11,045

12,093

At 31 January 2018

5,838

22,089

27,927

NET BOOK VALUE

At 31 January 2018

-

22,089

22,089

At 31 January 2017

840

33,134

33,974

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade debtors

172,917

148,402

Other trade debtors

96,597

87,031

Prepayments and accrued income

8,697

3,595

278,211

239,028

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.18

31.1.17

£

£

Trade creditors

169,819

161,476

Corporation tax

23,918

17,306

Social security and other taxes

4,010

3,837

VAT

12,886

6,451

Other creditors

-

39,583

Accruals and deferred income

4,158

4,730

214,791

233,383

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.18

31.1.17

value:

£

£

95

Ordinary

£1

95

95

5

Ordinary A

£1

5

5

1

Ordinary B

£1

1

1

101

101

8.	RELATED PARTY DISCLOSURES

During the year the company repaid a loan of £40,523 from Abtec Network Systems Ltd. The loan

was provided at an interest rate of 5% per annum.

Abtec Network Systems Ltd is a company in which Mr A Beynon is a director and shareholder.

9.	SHARE-BASED PAYMENT TRANSACTIONS

The company set up an Enterprise Management Incentive share option scheme on 19 December

2012. Mr D J Watkins, a director of the company, was granted share options to acquire Ordinary A

shares in the capital of the company. The total number of options granted was 27.

The options may be exercised in tranches, on or after 30 September annually, over a ten year

period. If the individual leaves the company, their options will lapse and cease to be exercisable.

The options can only be exercised if the company meets certain performance criteria. If a

performance criterion is not met in a particular year then the option holder may carry forward the

entitlement to the following year.

The exercise price is £800 per share which was the estimated value of the company’s shares on 30

September 2012.

During the period there were no share options exercised.