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REGISTERED NUMBER: 07238640 (England and Wales)

















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST AUGUST 2017

FOR

THE ABBEY LANE STORES LTD

THE ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2017










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


THE ABBEY LANE STORES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2017







DIRECTOR: Mr. B Patel





REGISTERED OFFICE: 109 Coleman Road
Leicester
Leicestershire
LE5 4LE





BUSINESS ADDRESS: 417 Abbey Lane
Leicester
LE5 5QJ





REGISTERED NUMBER: 07238640 (England and Wales)





ACCOUNTANTS: Watergates Ltd
109 Coleman Road
Leicester
LE5 4LE

THE ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

STATEMENT OF FINANCIAL POSITION
31ST AUGUST 2017

31/8/17 31/8/16
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1 5,600
1 5,600

CURRENT ASSETS
Stocks 6 42,509 45,463
Debtors 7 18,960 6,000
Cash at bank and in hand 26,435 13,391
87,904 64,854
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

8

(87,480

)

(70,966

)
NET CURRENT ASSETS/(LIABILITIES) 424 (6,112 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

425

(512

)

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 423 (514 )
SHAREHOLDERS' FUNDS 425 (512 )

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

The members have not required the Company to obtain an audit of its financial statements for the year ended 31st August 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

STATEMENT OF FINANCIAL POSITION - continued
31ST AUGUST 2017


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 director on 29th May 2018 and were signed by:





Mr. B Patel - Director


THE ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2017


1. STATUTORY INFORMATION

The Abbey Lane Stores Ltd 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 0, is being amortised evenly over its estimated useful life of nil 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 the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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 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.

THE ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2017


2. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the
period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st September 2016
and 31st August 2017 50,000
AMORTISATION
At 1st September 2016
and 31st August 2017 50,000
NET BOOK VALUE
At 31st August 2017 -
At 31st August 2016 -

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st September 2016
and 31st August 2017 47,374
DEPRECIATION
At 1st September 2016 41,774
Charge for year 5,599
At 31st August 2017 47,373
NET BOOK VALUE
At 31st August 2017 1
At 31st August 2016 5,600

6. STOCKS
31/8/17 31/8/16
£    £   
Stocks 42,509 45,463

THE ABBEY LANE STORES LTD (REGISTERED NUMBER: 07238640)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2017


7. DEBTORS
31/8/17 31/8/16
£    £   
Amounts falling due within one year:
Other debtors 6,000 6,000

Amounts falling due after more than one year:
Other debtors 12,960 -

Aggregate amounts 18,960 6,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/8/17 31/8/16
£    £   
Bank loans and overdrafts 46,571 59,968
Trade creditors 29,835 4,013
Corporation tax 8,029 4,566
Social security and other taxes 292 360
VAT 1,646 2,054
Directors' current accounts 57 5
Accruals and deferred income 1,050 -
87,480 70,966

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 31/8/17 31/8/16
value: £    £   
2 Ordinary 1 2 2