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REGISTERED NUMBER: 03294808 (England and Wales)















Financial Statements for the Year Ended 31 December 2016

for

Aberaeron Craft Centre Limited

Aberaeron Craft Centre Limited (Registered number: 03294808)






Contents of the Financial Statements
for the Year Ended 31 December 2016




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Aberaeron Craft Centre Limited

Company Information
for the Year Ended 31 December 2016







DIRECTORS: Mr D A Hickman
Mr P A T Mathias





SECRETARY: Mrs E T Mathias





REGISTERED OFFICE: The Reception Office
Aberearon Craft Centre
Aberearon
Ceredigion
SA46 0DS





REGISTERED NUMBER: 03294808 (England and Wales)





ACCOUNTANTS: Haines Watts
Keepers Lane
The Wergs
Wolverhampton
West Midlands
WV6 8UA
Page 1
Aberaeron Craft Centre Limited (Registered number: 03294808)

Statement of Financial Position
31 December 2016

2016 2015
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 331,262 339,574

CURRENT ASSETS
Debtors 5 18,194 12,536
Cash at bank 28,975 31,475
47,169 44,011
CREDITORS
Amounts falling due within one year 6 204,927 221,155
NET CURRENT LIABILITIES (157,758 ) (177,144 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
173,504
162,430

PROVISIONS FOR LIABILITIES 724 814
NET ASSETS 172,780 161,616

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 172,778 161,614
SHAREHOLDERS' FUNDS 172,780 161,616

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 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 27 September 2017 and were signed on
its behalf by:



Mr D A Hickman - Director


The notes form part of these financial statements

Page 2
Aberaeron Craft Centre Limited (Registered number: 03294808)

Notes to the Financial Statements
for the Year Ended 31 December 2016

1. STATUTORY INFORMATION

Aberaeron Craft Centre 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.

These financial statements for the year ended 31 December 2016 are the first financial statements that
comply with FRS102 Section 1A small entities. The date of transition is 1 January 2015.

The transition to FRS102 Section 1A small entities has not resulted in any changes in accounting
policies to those used previously.

The principal accounting policies adopted in the preparation of the financial statements are set out
below and have remained unchanged from the previous year, and also have been consistently applied
within the same accounts.

Turnover
Turnover represents the invoiced value of rent, insurance and service charges 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.
Freehold property - 2% on cost
Fixtures and fittings - 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the statement of financial position 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.

Page 3
Aberaeron Craft Centre Limited (Registered number: 03294808)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2016

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument
is any contract that evidences a residual interest in the assets of the company after deducting all of its
liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 January 2016 429,206 20,547 449,753
Additions - 1,000 1,000
At 31 December 2016 429,206 21,547 450,753
DEPRECIATION
At 1 January 2016 93,988 16,191 110,179
Charge for year 8,584 728 9,312
At 31 December 2016 102,572 16,919 119,491
NET BOOK VALUE
At 31 December 2016 326,634 4,628 331,262
At 31 December 2015 335,218 4,356 339,574

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade debtors 18,194 12,536

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2016 2015
£    £   
Trade creditors 20,765 19,602
Corporation Tax 4,656 2,057
VAT 2,740 3,939
Directors' loan accounts 174,088 193,088
Accruals and deferred income 2,678 2,469
204,927 221,155

7. RELATED PARTY DISCLOSURES

Previously Mr D Hickman lent money to the company on an interest free basis. The amount
outstanding at 31 December 2016 was £173,088 (2015 - £193,088).

Page 4