REGISTERED NUMBER: 01624796 (England and Wales)

ABBEY MEMORIALS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

M A Steen

REGISTERED OFFICE:

21 Lodge Lane

Grays

Essex

RM17 5RY

REGISTERED NUMBER:

01624796 (England and Wales)

ACCOUNTANTS:

Bland Baker

Chartered Accountants

21 Lodge Lane

Grays

Essex

RM17 5RY

FIXED ASSETS

Intangible assets

4

85,146

-

Tangible assets

5

117,569

47,715

202,715

47,715

CURRENT ASSETS

Stocks

137,250

88,962

Debtors

6

233,886

286,926

Cash at bank and in hand

339,662

221,439

710,798

597,327

CREDITORS

Amounts falling due within one year

7

741,841

538,293

NET CURRENT (LIABILITIES)/ASSETS

(31,043

)

59,034

TOTAL ASSETS LESS CURRENT LIABILITIES

171,672

106,749

PROVISIONS FOR LIABILITIES

16,400

9,500

NET ASSETS

155,272

97,249

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

155,172

97,149

SHAREHOLDERS' FUNDS

155,272

97,249

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 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 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 6 April 2017 and were signed by:

M A Steen - Director

1.	STATUTORY INFORMATION

Abbey Memorials 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents net invoiced sales of goods and services excluding value added tax.

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.

Websites and intellectual property is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

estimated useful life.

Short leasehold

- over the unexpired term of the lease

Improvements to property

- over the unexpired term of the lease

Plant and machinery

- 25% on reducing balance

Fixtures and fittings

- 25% on reducing balance

Motor vehicles

- 25% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value.

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 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.

Pension costs and other post-retirement benefits

Contributions in respect of the company's defined contribution pension scheme are charged to the

profit and loss account in the year in which they become payable in accordance with the rules of the

scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2015 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Additions

105,000

At 31 December 2016

105,000

AMORTISATION

Charge for year

19,854

At 31 December 2016

19,854

NET BOOK VALUE

At 31 December 2016

85,146

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2016

-

151,768

151,768

Additions

37,743

52,190

89,933

At 31 December 2016

37,743

203,958

241,701

DEPRECIATION

At 1 January 2016

-

104,053

104,053

Charge for year

2,044

18,035

20,079

At 31 December 2016

2,044

122,088

124,132

NET BOOK VALUE

At 31 December 2016

35,699

81,870

117,569

At 31 December 2015

-

47,715

47,715

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

229,934

283,745

Other debtors

3,952

3,181

233,886

286,926

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

851

Trade creditors

17,390

139,125

Taxation and social security

78,125

82,507

Other creditors

646,326

315,810

741,841

538,293

8.	CAPITAL COMMITMENTS

2016

2015

£

£

Contracted but not provided for in the

financial statements

3,184

-

9.	RELATED PARTY DISCLOSURES

Controlling party

The company is controlled by the shareholder, M.G. Smith.

Balances with related parties

The following loans with related parties subsisted during the year ending 31 December 2016 and

period ending 31 December 2015:

2016

2015

£

£

Creditor - J. Spooner and Mrs C. M. Spooner (former directors)

-

445

Creditor - M. Steen (director)

10,188

-

Creditor - M.G. Smith (shareholder)

245,000

-

The amounts owed to the related parties represented unsecured, interest free loans repayable on

demand.

Transactions with related parties

During the year the company had the following transactions with related parties:

2016

2015

£

£

Paid rent to the former director

30,000

22,500

Dividends paid

- J. Spooner (former directors)

-

185,640

- C.M. Spooner (former directors)

-

171,360

- M. Smith (shareholder)

35,000

-