Abbey Cheese Company Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04387807 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Abbey Cheese Company Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

C Challinger

A Davies

Mrs J Davies

REGISTERED OFFICE:

Gable End

Sparrow Hall Business Park

Leighton Raod

Edlesborough

Bedfordshire

LU6 2ES

REGISTERED NUMBER:

04387807 (England and Wales)

ACCOUNTANT:

Roberts Accountancy & Tax Limited

Gable End

Sparrow Hall Business Park

Leighton Road

Edlesborough

Bedfordshire

LU6 2ES

FIXED ASSETS

Intangible assets

4

6,970

8,131

Tangible assets

5

41,936

35,656

48,906

43,787

CURRENT ASSETS

Stocks

25,000

Debtors

6

317,138

231,053

Cash at bank and in hand

13,790

25,256

355,928

281,309

CREDITORS

Amounts falling due within one year

7

332,208

259,227

NET CURRENT ASSETS

23,720

22,082

TOTAL ASSETS LESS CURRENT
LIABILITIES

72,626

65,869

CREDITORS

Amounts falling due after more than one
year

8

(11,250

)

(10,100

)

PROVISIONS FOR LIABILITIES

(7,646

)

(6,382

)

NET ASSETS

53,730

49,387

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

53,630

49,287

SHAREHOLDERS' FUNDS

53,730

49,387

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 22 December 2017 and were signed on its behalf
by:

A Davies - Director

1.	STATUTORY INFORMATION

Abbey Cheese Company 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.

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 1998, is being amortised evenly over its estimated useful life of twenty five 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

29,033

AMORTISATION

At 1 April 2016

20,902

Charge for year

1,161

At 31 March 2017

22,063

NET BOOK VALUE

At 31 March 2017

6,970

At 31 March 2016

8,131

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

89,167

Additions

16,280

At 31 March 2017

105,447

DEPRECIATION

At 1 April 2016

53,511

Charge for year

10,000

At 31 March 2017

63,511

NET BOOK VALUE

At 31 March 2017

41,936

At 31 March 2016

35,656

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Trade debtors

210,054

183,172

Amounts owed by group undertakings

102,263

43,424

Other debtors

4,821

4,457

317,138

231,053

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Bank loans and overdrafts

160,881

118,361

Trade creditors

135,251

123,735

Taxation and social security

15,050

6,516

Other creditors

21,026

10,615

332,208

259,227

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

Bank loans

11,250

10,100

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

Bank loans

21,250

15,000

10.	RELATED PARTY DISCLOSURES

During the year the directors loaned the company £10,800. The balance due to the directors at the year end

was £17,000 (2016 : £6,200).

During the year the company received monies from and paid monies on behalf of Carlton Foods Limited, a

company in which Mr A Davies, is also a director. The balance at the year-end was £34,241 owed from Carlton

Foods Limited. (2016 : £23,641)

The directors, Mr A Davies and Mrs J Davies, are also 85% shareholders in Kobdale Limited. During the year

the company traded on open market terms with Kobdale Limited. At the end of the year the company was owed

£68,022.42 by Kobdale Limited (2016 : £19,783).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Carlton Foods Limited by virtue of a controlling interest of 90% of the issued

ordinary share capital.