REGISTERED NUMBER: 04680770 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1ST MAY 2016 TO 31ST OCTOBER 2017

FOR

ABS PROPERTY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S J Cracknell

S Wills

REGISTERED OFFICE:

162-164 High Street

Rayleigh

Essex

SS6 7BS

REGISTERED NUMBER:

04680770 (England and Wales)

ACCOUNTANTS:

ESW Chartered Accountants

162-164 High Street

Rayleigh

Essex

SS6 7BS

FIXED ASSETS

Tangible assets

3

700,000

700,000

CURRENT ASSETS

Debtors

4

1,960

5,559

Cash at bank

2,952

176

4,912

5,735

CREDITORS

Amounts falling due within one year

5

(50,488

)

(9,972

)

NET CURRENT LIABILITIES

(45,576

)

(4,237

)

TOTAL ASSETS LESS CURRENT LIABILITIES

654,424

695,763

CREDITORS

Amounts falling due after more than one year

6

-

(67,585

)

NET ASSETS

654,424

628,178

CAPITAL AND RESERVES

Called up share capital

2

2

Revaluation reserve

7

344,964

344,964

Retained earnings

7

309,458

283,212

SHAREHOLDERS' FUNDS

654,424

628,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st October 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st October 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 24th January 2018 and were signed on its behalf by:

S J Cracknell - Director

1.	STATUTORY INFORMATION

ABS Property 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 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.

Tangible fixed assets

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

Freehold property

-

2% on cost

Taxation

Taxation for the period 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 period 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.

3.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST OR VALUATION

At 1st May 2016

and 31st October 2017

700,000

NET BOOK VALUE

At 31st October 2017

700,000

At 30th April 2016

700,000

Cost or valuation at 31st October 2017 is represented by:

Land and

buildings

£

Valuation in 2006

24,964

Valuation in 2016

320,000

Cost

355,036

700,000

If freehold property had not been revalued it would have been included at the following historical cost:

2017

2016

£

£

Cost

355,036

355,036

Freehold land and buildings were valued on an open market basis basis on 31st May 2016 by the director .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

1,960

505

Other debtors

-

5,054

1,960

5,559

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Taxation and social security

6,403

8,146

Other creditors

44,085

1,826

50,488

9,972

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

-

67,585

7.

RESERVES

Revaluat-

Retained

ion

earnings

reserve

Totals

£

£

£

At 1st May 2016

283,212

344,964

628,176

Profit for the period

26,246

26,246

At 31st October 2017

309,458

344,964

654,422

8.	ULTIMATE CONTROLLING PARTY

There is no overall ultimate controlling party.