REGISTERED NUMBER: 04892105 (England and Wales)

Report of the directors and

Financial statements

for the year ended 30 September 2012

For

ABBEY LOFT CONVERSIONS LIMITED

Page

Company information

1

Report of the directors

2

Profit and loss account

3

Balance sheet

4

Notes to the financial statements

6

Directors:

G B B Beaven

A Marku

Registered office:

13 Hamilton Road

Cockfosters

Barnet

Hertfordshire

EN4 9EU

Registered number:

04892105 (England and Wales)

Accountants:

Capital Partners London Ltd

110 Viglen House

Alperton Lane

Alperton

Wembley

Middlesex

HA0 1HD

The directors present their report with the financial statements of the company for the year ended

30 September 2012.

Principal activity

The principal activity of the company in the year under review was that of loft conversion and development.

Directors

G B B Beaven has held office during the whole of the period from 1 October 2011 to the date of this report.

Other changes in directors holding office are as follows:

A Marku - appointed 8 May 2012

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act

2006 relating to small companies.

On behalf of the board:

G B B Beaven - Director

30 September 2013

Turnover

497,475

132,636

Cost of sales

(399,599

)

(95,084

)

Gross profit

97,876

37,552

Administrative expenses

(28,307

)

(25,095

)

Operating profit

2

69,569

12,457

Interest payable and similar charges

(1,263

)

(815

)

Profit on ordinary activities before taxation

68,306

11,642

Tax on profit on ordinary activities

3

(14,358

)

(2,333

)

Profit for the financial year

53,948

9,309

Fixed assets

Tangible assets

5

13,938

7,840

Current assets

Stocks

6

35,000

23,377

Debtors

7

52,707

41,893

Cash at bank

7,482

5,859

95,189

71,129

Creditors

Amounts falling due within one year

8

(97,199

)

(75,181

)

Net current liabilities

(2,010

)

(4,052

)

Total assets less current liabilities

11,928

3,788

Creditors

Amounts falling due after more than one year

9

(6,935

)

-

Provisions for liabilities

10

(2,626

)

(1,369

)

Net assets

2,367

2,419

Capital and reserves

Called up share capital

11

100

100

Profit and loss account

12

2,267

2,319

Shareholders' funds

2,367

2,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2012.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2012 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 30 September 2013 and were signed on its behalf by:

G B B Beaven - Director

1.	Accounting policies

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance

with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Tangible fixed assets

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

Plant and machinery

-

25% on cost on a straight line basis

Fixtures and fittings

-

25% on cost on a straight line basis

Motor vehicles

-

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.

Deferred tax

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

the balance sheet date.

2.	Operating profit

The operating profit is stated after charging:

30.9.12

30.9.11

£

£

Depreciation - owned assets

5,492

4,019

Directors' remuneration and other benefits etc

-

4,800

3.

Taxation

Analysis of the tax charge

The tax charge on the profit on ordinary activities for the year was as follows:

30.9.12

30.9.11

£

£

Current tax:

UK corporation tax

13,100

1,782

Deferred tax

1,258

551

Tax on profit on ordinary activities

14,358

2,333

4.

Dividends

30.9.12

30.9.11

£

£

Ordinary shares of £1 each

Interim

54,000

9,000

5.	Tangible fixed assets

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

Cost

At 1 October 2011

4,842

1,150

13,990

19,982

Additions

-

-

11,590

11,590

At 30 September 2012

4,842

1,150

25,580

31,572

Depreciation

At 1 October 2011

4,234

912

6,996

12,142

Charge for year

608

238

4,646

5,492

At 30 September 2012

4,842

1,150

11,642

17,634

Net book value

At 30 September 2012

-

-

13,938

13,938

At 30 September 2011

608

238

6,994

7,840

6.

Stocks

30.9.12

30.9.11

£

£

Stocks

35,000

23,377

7.

Debtors: amounts falling due within one year

30.9.12

30.9.11

£

£

Trade debtors

44,327

33,005

Other debtors

8,040

8,040

Prepayments

340

848

52,707

41,893

8.

Creditors: amounts falling due within one year

30.9.12

30.9.11

£

£

Hire purchase contracts

5,922

8,486

Trade creditors

15,001

53,859

Tax

12,404

1,782

VAT

20,612

3,163

Other creditors

1,180

114

Directors' current accounts

39,080

1,297

Accrued expenses

3,000

6,480

97,199

75,181

9.

Creditors: amounts falling due after more than one year

30.9.12

30.9.11

£

£

Hire purchase contracts

6,935

-

10.	Provisions for liabilities

30.9.12

30.9.11

£

£

Deferred tax

2,626

1,369

Deferred

tax

£

Balance at 1 October 2011

1,369

Provided during year

1,257

Balance at 30 September 2012

2,626

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.12

30.9.11

value:

£

£

100

Ordinary

£1

100

100

12.

Reserves

Profit

and loss

account

£

At 1 October 2011

2,319

Profit for the year

53,948

Dividends

(54,000

)

At 30 September 2012

2,267