REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
ABERCORN ENVIRONMENTAL LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
FOR |
ABERCORN ENVIRONMENTAL LTD |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ABERCORN ENVIRONMENTAL LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
The Custom House |
The Strand |
Barnstaple |
Devon |
EX31 1EU |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
BALANCE SHEET |
31 MARCH 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
BALANCE SHEET - continued |
31 MARCH 2017 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved and authorised for issue by the Board of Directors on were signed on its behalf by: |
D A Northridge - Director | I C Neale - Director |
S R Clements - Director |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2017 |
1. | STATUTORY INFORMATION |
Abercorn Environmental Ltd is a |
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. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements cover this company as an individual entity. Rounding is to the nearest Pound (£). |
Significant judgements and estimates |
The preparation of financial statements requires management to make judgements, estimates and assumptions |
that affect the amount reported for assets and liabilities at the balance sheet date and the amounts reported for |
revenues and expenses during the year. However, the nature of estimation means that actual outcomes could |
differ from those estimates. The judgements and estimates having had the most significant effect on any amounts |
are recognised in the financial statements in the year they are discovered. |
Turnover |
Turnover represents net invoiced sales of services, and is derived from the ordinary activities. Revenue is |
recognised when services have been rendered and are invoiced to the customer. The company is not VAT |
registered. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Financial instruments |
Basic financial instruments of debtors, bank and cash balances and creditors are all recognised at cost. |
Financial instruments are defined as a contract which gives rise to a financial asset of one entity and a financial |
liability or equity instrument of another entity. |
Basic financial instruments are classified under section 11 of FRS102 and are held at amortised cost. These |
include cash, trade debtors and creditors, bank loans and other non-complicated loans. |
Other financial instruments which are classified under section 12 of FRS102 and are measured as at fair value |
through the profit or loss. |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
3. | ACCOUNTING POLICIES - continued |
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 |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and | Computer |
machinery | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2016 |
and 31 March 2017 |
DEPRECIATION |
At 1 April 2016 |
Charge for year |
At 31 March 2017 |
NET BOOK VALUE |
At 31 March 2017 |
At 31 March 2016 |
ABERCORN ENVIRONMENTAL LTD (REGISTERED NUMBER: 05384633) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2017 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Accrued expenses |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 April 2016 |
Deficit for the year | ( |
) |
At 31 March 2017 |
9. | RELATED PARTY DISCLOSURES |
During the year the company paid £11,805 (2016 - £21,030) for consultancy fees to Ocracoke Projects Limited |
on normal commercial terms. Mr S Clements is a director and shareholder in that company and this company, |
and at the balance sheet date Ocracoke Projects Limited was owed £930 (2016 - £1,200). |
During the year the company paid £3,000 (2016 - £3,000) for the use of premises to Abercorn Surveyors |
Limited on normal commercial terms. Mr D A Northridge and Mr I C Neale are directors and shareholders in |
that company and in this company, and at the balance sheet date Abercorn Surveyors Limited was owed £nil ( |
2016 - £1,500). |
During the year the company paid £600 (2016 - £1,200) for consultancy fees to Nodco Limited on normal |
commercial terms. Mr D A Northridge is a director and shareholder in that company, and in this company, and at |
the balance sheet date Nodco Limited was owed £nil (2016 - £1,200). |
During the year the company paid £600 (2016 - £1,200) for consultancy fees to Funky Ginger Company Limited |
on normal commercial terms. Mr I C Neale is a director and shareholder in that company and this company, and |
at the balance sheet date Funky Ginger Company Limited was owed £nil (2016 - £1,200). |
10. | ULTIMATE CONTROLLING PARTY |
During the year the company was under the control of D A Northridge, I C Neale and S R Clements, its directors |
and shareholders. |