Abbey Waste Control Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04583514 (England and Wales)

Unaudited Financial Statements For The Year Ended 5th April 2018

for

Abbey Waste Control Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P A A Bonham

Mr T M A Bonham

SECRETARY:

Mr P A A Bonham

REGISTERED OFFICE:

Victory House

245 Southtown Road

Great Yarmouth

Norfolk

NR31 0JJ

REGISTERED NUMBER:

04583514 (England and Wales)

ACCOUNTANTS:

Aston Shaw Ltd

The Union Building

51-59 Rose Lane

Norwich

Norfolk

NR1 1BY

FIXED ASSETS

Intangible assets

4

8,614

Tangible assets

5

641,461

650,969

Investments

6

86,627

736,702

746,210

CURRENT ASSETS

Debtors

7

215,759

170,001

Cash at bank

17,846

2,781

233,605

172,782

CREDITORS

Amounts falling due within one year

8

442,813

357,908

NET CURRENT LIABILITIES

(209,208

)

(185,126

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

527,494

561,084

CREDITORS

Amounts falling due after more than one
year

9

(188,438

)

(226,129

)

PROVISIONS FOR LIABILITIES

(2,099

)

(3,613

)

NET ASSETS

336,957

331,342

CAPITAL AND RESERVES

Called up share capital

3,000

Revaluation reserve

11

113,550

Retained earnings

220,407

214,792

SHAREHOLDERS' FUNDS

336,957

331,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5th April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 5th April 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 12th November 2018 and were signed on its
behalf by:

Mr T M A Bonham - Director

1.	STATUTORY INFORMATION

Abbey Waste Control 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of six years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

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

-

not provided

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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.

Going concern

These financial statements have been prepared on the going concern basis. The Directors consider this basis to

be appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2017 - 15 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Goodwill

licences

Totals

£

COST

At 6th April 2017

and 5th April 2018

56,800

8,614

65,414

AMORTISATION

At 6th April 2017

and 5th April 2018

56,800

-

56,800

NET BOOK VALUE

At 5th April 2018

-

8,614

At 5th April 2017

-

8,614

5.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

machinery

£

COST OR VALUATION

At 6th April 2017

610,000

6,064

132,836

Disposals

-

(5,500

)

At 5th April 2018

610,000

6,064

127,336

DEPRECIATION

At 6th April 2017

-

111,283

Charge for year

-

5,923

Eliminated on disposal

-

(5,500

)

At 5th April 2018

-

111,706

NET BOOK VALUE

At 5th April 2018

610,000

6,064

15,630

At 5th April 2017

610,000

6,064

21,553

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

COST OR VALUATION

At 6th April 2017

6,344

69,302

8,865

833,411

Disposals

-

(5,500

)

At 5th April 2018

6,344

69,302

8,865

827,911

DEPRECIATION

At 6th April 2017

5,199

57,424

8,536

182,442

Charge for year

286

2,970

329

9,508

Eliminated on disposal

-

(5,500

)

At 5th April 2018

5,485

60,394

8,865

186,450

NET BOOK VALUE

At 5th April 2018

859

8,908

-

641,461

At 5th April 2017

1,145

11,878

329

650,969

Cost or valuation at 5th April 2018 is represented by:

Improvements

Freehold

to

Plant and

property

machinery

£

Valuation in 2018

610,000

6,064

127,336

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

Valuation in 2018

6,344

69,302

8,865

827,911

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

5/4/18

5/4/17

£

Cost

496,450

Value of land in freehold land and buildings

496,450

Freehold property was valued on an open market basis on 5th April 2016 by the management of the company. .

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 6th April 2017

and 5th April 2018

86,627

NET BOOK VALUE

At 5th April 2018

86,627

At 5th April 2017

86,627

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/18

5/4/17

£

Trade debtors

70,420

40,696

Other debtors

142,842

127,521

Prepayments

2,497

1,784

215,759

170,001

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5/4/18

5/4/17

£

Bank loans and overdrafts

38,285

38,697

Hire purchase contracts

-

2,361

Trade creditors

49,049

42,476

Credit cards

15,744

9,893

Tax

8,814

4,891

Social security and other taxes

35,501

37,630

VAT

220,887

157,310

Other creditors

71,866

62,266

Directors' current accounts

426

422

Accrued expenses

2,241

1,962

442,813

357,908

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5/4/18

5/4/17

£

Bank loans - 1-2 years

97,605

120,560

Mortgage

90,833

105,569

188,438

226,129

10.	SECURED DEBTS

The following secured debts are included within creditors:

5/4/18

5/4/17

£

Loans

226,723

264,826

The bank loan from Barclays Bank PLC is secured by a fixed charge over the freehold property owned by the

company.

11.

RESERVES

Revaluation

reserve

£

At 6th April 2017

and 5th April 2018

113,550

12.	RELATED PARTY DISCLOSURES

The company received management fees of £964,561 (2017 - £410,159) from Abbeychem Limited, an

associated company, under normal terms during the year.

During the year there were bank transfers between the company and Abbeychem Limited, an associated

company. At the Balance Sheet date the company was owed £35,403 (2017 - £19,642) and this is included in

Other Debtors.

The company has made loans in the current and preceding periods to associated companies. The amounts

outstanding at the Balance Sheet date were:

2018

2017

GWL Security Limited

£14,943

Interweld Engineering Limited

£9,340

No interest was charged on the loans to GWL Security Limited and Interweld Engineering Ltd.

13.	ULTIMATE CONTROLLING PARTY

The company was controlled in this and the preceding period by the Directors by virtue of their shareholdings.