1 April 2016 false No description of principal activity Taxfiler 2017.26.Web 05610501business:PrivateLimitedCompanyLtd2016-04-012017-03-31 056105012016-03-31 056105012016-04-012017-03-31 05610501business:AuditExemptWithAccountantsReport2016-04-012017-03-31 05610501business:FullAccounts2016-04-012017-03-31 056105012017-03-31 05610501business:Director12016-04-012017-03-31 05610501business:Director22016-04-012017-03-31 05610501business:RegisteredOffice2016-04-012017-03-31 056105012016-03-31 05610501core:WithinOneYear2017-03-31 05610501core:WithinOneYear2016-03-31 05610501core:AfterOneYear2017-03-31 05610501core:AfterOneYear2016-03-31 05610501core:ShareCapital2017-03-31 05610501core:ShareCapital2016-03-31 05610501core:RevaluationReserve2017-03-31 05610501core:RevaluationReserve2016-03-31 05610501core:RetainedEarningsAccumulatedLosses2017-03-31 05610501core:RetainedEarningsAccumulatedLosses2016-03-31 05610501business:SmallEntities2016-04-012017-03-31 05610501countries:EnglandWales2016-04-012017-03-31 05610501core:PlantMachinery2016-04-012017-03-31 05610501core:MotorVehicles2016-04-012017-03-31 05610501core:LandBuildings2016-03-31 05610501core:PlantMachinery2016-03-31 05610501core:MotorVehicles2016-03-31 05610501core:LandBuildings2017-03-31 05610501core:PlantMachinery2017-03-31 05610501core:MotorVehicles2017-03-31 05610501core:LandBuildings2016-04-012017-03-31 056105012015-04-012016-03-31 iso4217:GBP xbrli:pure
Company Registration No. 05610501 (England and Wales)
ABEL LETTING & PROPERTY MANAGEMENT LTD Unaudited accounts for the year ended 31 March 2017
ABEL LETTING & PROPERTY MANAGEMENT LTD Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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ABEL LETTING & PROPERTY MANAGEMENT LTD Company Information for the year ended 31 March 2017
Directors
Mr Josheph McVay Mr Michael Mayday
Company Number
05610501 (England and Wales)
Registered Office
21 St Catherines Road Hayling Island Hampshire PO11 0HF
Accountants
TaxSense Accountants Ltd 203 West Street Fareham Hants PO16 0EN
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ABEL LETTING & PROPERTY MANAGEMENT LTD Statement of financial position as at 31 March 2017
2017 
2016 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
246,550 
247,066 
Current assets
Inventories
5
4,500 
4,500 
Debtors
6
16,694 
15,713 
Cash at bank and in hand
18,737 
8,846 
39,931 
29,059 
Creditors: amounts falling due within one year
7
(78,361)
(77,827)
Net current liabilities
(38,430)
(48,768)
Total assets less current liabilities
208,120 
198,298 
Creditors: amounts falling due after more than one year
8
(125,355)
(129,666)
Net assets
82,765 
68,632 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
60,000 
60,000 
Profit and loss account
22,665 
8,532 
Shareholders' funds
82,765 
68,632 
For the year ending 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 6 July 2017.
Mr Josheph McVay Director Company Registration No. 05610501
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ABEL LETTING & PROPERTY MANAGEMENT LTD Notes to the Accounts for the year ended 31 March 2017
1
Statutory information
ABEL LETTING & PROPERTY MANAGEMENT LTD is a private company, limited by shares, registered in England and Wales, registration number 05610501. The registered office and principal place of business is 21 St Catherines Road, Hayling Island, Hampshire, PO11 0HF.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
These financial statements for the year ended 31 March 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 1 April 2015. The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously. The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
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ABEL LETTING & PROPERTY MANAGEMENT LTD Notes to the Accounts for the year ended 31 March 2017
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2016
245,000 
3,035 
26,095 
274,130 
At 31 March 2017
245,000 
3,035 
26,095 
274,130 
Depreciation
At 1 April 2016
- 
2,801 
24,263 
27,064 
Charge for the year
- 
58 
458 
516 
At 31 March 2017
- 
2,859 
24,721 
27,580 
Net book value
At 31 March 2017
245,000 
176 
1,374 
246,550 
At 31 March 2016
245,000 
234 
1,832 
247,066 
5
Inventories
2017 
2016 
£ 
£ 
Finished goods
4,500 
4,500 
4,500 
4,500 
6
Debtors
2017 
2016 
£ 
£ 
Trade debtors
- 
614 
Amounts due from group undertakings etc.
12,885 
12,584 
Other debtors
3,809 
2,515 
16,694 
15,713 
7
Creditors: amounts falling due within one year
2017 
2016 
£ 
£ 
Bank loans and overdrafts
10,539 
10,539 
Trade creditors
1,418 
547 
Taxes and social security
3,481 
1,868 
Other creditors
- 
8,843 
Loans from directors
59,365 
52,516 
Accruals
3,558 
3,514 
78,361 
77,827 
8
Creditors: amounts falling due after more than one year
2017 
2016 
£ 
£ 
Bank loans
125,355 
129,666 
9
Average number of employees
During the year the average number of employees was 2 (2016: 3).
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