Abbey Pack Eggs Limited - Filleted accounts

Abbey Pack Eggs Limited
Registered number:		01265623
Balance Sheet
as at 31 October 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	3		535,580			396,642

Current assets
Stocks		5,500			4,750
Debtors	4	121,605			132,570
Cash at bank and in hand		170,190			177,219
		297,295			314,539

Creditors: amounts falling due within one year	5	(239,441)			(94,254)

Net current assets			57,854			220,285

Total assets less current liabilities			593,434			616,927


Provisions for liabilities			(24,528)			(19,479)


Net assets			568,906			597,448

Capital and reserves
Called up share capital			100			100
Profit and loss account			568,806			597,348

Shareholders' funds			568,906			597,448

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




J Abbey
Director
Approved by the board on 23.11.18

Abbey Pack Eggs Limited
Notes to the Accounts
for the year ended 31 October 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery			over 5 years
	Motor vehicles			over 4 years

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Employees					2018		2017
Number							Number

	Average number of persons employed by the company					3		4


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 November 2017	294,121		193,921		33,073		521,115
	Additions	112,364		60,000		-		172,364
	At 31 October 2018	406,485		253,921		33,073		693,479

	Depreciation
	At 1 November 2017	-		109,823		14,650		124,473
	Charge for the year	-		28,820		4,606		33,426
	At 31 October 2018	-		138,643		19,256		157,899

	Net book value
	At 31 October 2018	406,485		115,278		13,817		535,580
	At 31 October 2017	294,121		84,098		18,423		396,642


4	Debtors					2018		2017
£							£

	Trade debtors					93,405		113,895
	Other debtors					28,200		18,675
						121,605		132,570


5	Creditors: amounts falling due within one year					2018		2017
£							£

	Trade creditors					139,749		73,053
	Other taxes and social security costs					-		745
	Other creditors					99,692		20,456
						239,441		94,254


6	Other information

	Abbey Pack Eggs Limited is a private company limited by shares and incorporated in England. Its registered office is:
	233 Wigan Road
	Ashton in Makerfield
	Wigan
	WN4 9SL