Registration number:
ABA Holdings Limited
Filleted
for the Period from 1 February 2016 to 30 April 2017
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY
ABA Holdings Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
ABA Holdings Limited
Company Information
Directors |
Mr S M Baston Mrs J E Baston |
Company secretary |
Ms F Scanlan |
Registered office |
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Accountants |
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Page 1 |
Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
ABA Holdings Limited
for the Period Ended 30 April 2017
As described on the balance sheet you are responsible for the compilation of the accounts for the period ended 30 April 2017, as set out on pages 3 to 13, and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled the unaudited accounts from the accounting records and from information and explanations supplied to us.
Hazell Drive
Newport
South Wales
NP10 8FY
Page 2 |
ABA Holdings Limited
(Registration number: 03686406)
Balance Sheet as at 30 April 2017
Note |
2017 |
2016 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Stocks |
- |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
( |
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Total equity |
( |
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For the financial period ending 30 April 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Page 3 |
ABA Holdings Limited
(Registration number: 03686406)
Balance Sheet as at 30 April 2017
Approved and authorised by the
.........................................
Mr S M Baston
Director
Page 4 |
ABA Holdings Limited
Statement of Changes in Equity for the Period from 1 February 2016 to 30 April 2017
Share capital |
Profit and loss account |
Total |
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At 1 February 2016 |
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|
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Loss for the period |
- |
( |
( |
Total comprehensive income |
- |
( |
( |
At 30 April 2017 |
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( |
( |
Share capital |
Profit and loss account |
Total |
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At 1 February 2015 |
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|
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Profit for the period |
- |
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Total comprehensive income |
- |
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Dividends |
- |
( |
( |
At 31 January 2016 |
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Page 5 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
General information |
The company registration number is: 03686406
The company is a private company limited by share capital incorporated in United Kingdom.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures, fittings and equipment |
25% straight line |
Computer equipment |
25% straight line |
Page 6 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Page 7 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Page 8 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2016 |
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Additions |
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- |
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Disposals |
( |
( |
( |
At 30 April 2017 |
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Depreciation |
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At 1 February 2016 |
- |
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Eliminated on disposal |
- |
( |
( |
At 30 April 2017 |
- |
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Carrying amount |
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At 30 April 2017 |
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- |
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At 31 January 2016 |
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- |
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Included within the net book value of land and buildings above is £1,133,318 (2016 - £345,349) in respect of freehold land and buildings.
Investments |
2017 |
2016 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 February 2016 |
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Provision |
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Carrying amount |
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At 30 April 2017 |
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At 31 January 2016 |
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Page 9 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Stocks |
2017 |
2016 |
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Other inventories |
- |
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Debtors |
Note |
2017 |
2016 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Other debtors |
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Total current trade and other debtors |
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Creditors |
Note |
2017 |
2016 |
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Due within one year |
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Bank loans and overdrafts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Due after one year |
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Loans and borrowings |
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- |
2017 |
2016 |
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After more than five years by instalments |
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- |
1,691,080 |
- |
Share capital |
Allotted, called up and fully paid shares
2017 |
2016 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
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100 |
Page 10 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Loans and borrowings |
2017 |
2016 |
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Non-current loans and borrowings |
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Bank borrowings |
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- |
2017 |
2016 |
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Current loans and borrowings |
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Bank borrowings |
- |
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Other borrowings |
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Bank borrowings
The carrying amount at period end is £ The loan is secured on the assets of the business. |
Dividends |
Interim dividends paid
2017 |
2016 |
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Interim dividend of £- (2016 - £580) per each |
- |
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Page 11 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Related party transactions |
Summary of transactions with subsidiaries
Summary of transactions with other related parties
DS Properties (Pontypridd) Ltd is a 100% subsidiary of DS Holdings (Penarth) Limited. The director, Mr S Baston owns 100% of the share capital of DS Holdings (Penarth) Limited. At the balance sheet date the amount due from ABA Holdings Limited was £24,030 (2016 - (£17,150))
XB Properties Ltd has a common director and shareholder to ABA Holdings Limited. At the balance sheet date the amount due to ABA Holdings Limited was £nil (2016 - £4,600)
T Shed Developments Ltd has a common director and shareholder to ABA Holdings Limited. At the balance sheet date the amount due to ABA Holdings Limited was £nil (2016 - £50,000)
Page 12 |
ABA Holdings Limited
Notes to the Financial Statements for the Period from 1 February 2016 to 30 April 2017
Loans to related parties
2017 |
Subsidiary |
Other related parties |
At start of period |
- |
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Advanced |
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Repaid |
- |
( |
At end of period |
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2016 |
Other related parties |
At start of period |
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Advanced |
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Repaid |
( |
At end of period |
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Loans from related parties
2017 |
Other related parties |
At start of period |
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Repaid |
( |
At end of period |
- |
2016 |
Other related parties |
At start of period |
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Transition to FRS 102 |
The transition to FRS 102 Section 1A small entities has resulted in no changes to the accounting policies used previously. There were also no restatements or remeasurements required to the profit and loss account or the balance sheet for the previous or current accounting periods.
Page 13 |