Abedi_Ltd_31_Jan_2017_companies_house_set_of

Abedi Limited

Abridged Statement of Financial Position

31 January 2017

		2017		2016
	Note	£		£
Fixed assets
Tangible assets	4	872,232		555,231
Investments	4	610,522		470,207
		1,482,754		1,025,438
Current assets
Debtors		2,179,022		8,028
Cash at bank and in hand		782		626
		2,179,804		8,654
Creditors: amounts falling due within one year		(2,776,756	)	(662,344	)
Net current liabilities		(596,952	)	(653,690	)
Total assets less current liabilities		885,802		371,748
Creditors: amounts falling due after more than one year		(726,869	)	(284,270	)
Net assets		158,933		87,478
Capital and reserves
Called up share capital		300		300
Profit and loss account		158,633		87,178
Shareholders funds		158,933		87,478

For the year ending

31 January 2017

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476;
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements.

These

abridged financial statements

have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

abridged financial statements

were approved by the board of directors and authorised for issue on

27 October 2017

, and are signed on behalf of the board by:

M Abedi

Director

Company registration number:

06799613

Abedi Limited

Notes to the Abridged Financial Statements

Year ended

31 January 2017

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Alexandra Gate

Ffordd Pengam

Cardiff

CF24 2SA

, United Kingdom.

2 Statement of compliance

These

abridged financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The

abridged financial statements

have been prepared on the historical cost basis, as modified by the revaluation of certain assets.

The

abridged financial statements

are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Land and buildings	N/A
Fixtures and fittings	10% Reducing Balance

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

If a reliable measure of fair value is not available without undue cost or effort it shall be transferred to tangible assets and accounted for under the cost model until it is expected that fair value will be reliably measurable on an on-going basis.

Fixed asset investments

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses.

Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted.

Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss.

All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.

All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking compromise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

4 Fixed assets

	Tangible assets	Investments	Total
	£	£	£
Cost or valuation
At 1 February 2016	555,231	470,207	1,025,438
Additions	312,632	100,001	412,633
Revaluations	4,769	40,314	45,083
At 31 January 2017	872,632	610,522	1,483,154
Impairment
At 1 February 2016	-	-	-
Charge	400	-	400
At 31 January 2017	400	-	400
Carrying amount
At 31 January 2017	872,232	610,522	1,482,754
At 31 January 2016	555,231	470,207	1,025,438

Fixed assets held at valuation

In respect of fixed assets held at valuation, the comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	2017			2016
	Intangible assets		Investments	Investments
	£		£	£
Aggregate historical cost	50,000		100,201	200
Aggregate amortisation and impairment	(400	)	-	-
Carrying amount	49,600		100,201	200

Investment property

Included in tangible assets are the following amounts related to investment properties held at valuation:

	2017
	£
Carrying amount at 1 February 2016	555,231
Additions	262,632
Fair value adjustments	4,769
Carrying amount at 31 January 2017	822,632

5 Controlling party

The controlling party is director Mr M Abedi who owns 100% of the share capital.