Registered number: 04020409
ABBEY VIEW ESTATES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 NOVEMBER 2017
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ABBEY VIEW ESTATES LIMITED
REGISTERED NUMBER: 04020409
BALANCE SHEET
AS AT 30 NOVEMBER 2017
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Page 1
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ABBEY VIEW ESTATES LIMITED
REGISTERED NUMBER: 04020409
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2017
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 19 July 2018.
The notes on pages 4 to 7 form part of these financial statements.
Page 2
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ABBEY VIEW ESTATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2017
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Comprehensive income for the year
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Total comprehensive income for the year
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Dividends: Equity capital
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Total transactions with owners
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2016
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Comprehensive income for the year
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Total comprehensive income for the year
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Dividends: Equity capital
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Total transactions with owners
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The notes on pages 4 to 7 form part of these financial statements.
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Page 3
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ABBEY VIEW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2017
Abbey View Estates Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 04020409. The address of the registered office is Lawrence House, Goodwyn Avenue, Mill Hill,London, NW7 3RH. The principle activity of the company is that of property dealing.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The following principal accounting policies have been applied:
Revenue represents the amounts received in respect of lease extensions and freehold sales.
Unsold properties held for resale are stated at the lower of cost and net realisable value, Cost includes all ancillary expenses of the purchase. Sums received for lease period extensions are deducted from the original cost where the company owns the relevant freehold reversions. The value of the freehold properties carried forward is nil and the sums received from lease extensions and freehold sales are credited directly to the profit and loss account.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Page 4
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ABBEY VIEW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2017
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
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The average monthly number of employees, including directors, during the year was 2 (2016 - 2).
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Amounts owed by group undertakings
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Cash and cash equivalents
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Page 5
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ABBEY VIEW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2017
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Financial assets measured at fair value through profit or loss
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Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.
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Profit & loss account
The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.
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Related party transactions
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During the year the following transactions occurred:
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Entities with control, joint control or significant influence over the entity
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Page 6
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ABBEY VIEW ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2017
The ultimate parent company is Winsyl Investments Limited, a company incorporated in England and Wales.
The ulitmate controlling party is S Mattey by virtue of his shareholding in the parent undertaking.
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First time adoption of FRS 102
The policies applied under the entity's previous accounting framework are not materially different to FRS 102
and have not impacted on equity or profit or loss.
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Page 7
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