REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED (REGISTERED NUMBER: 03549403) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 July 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Report of the Accountants | 6 |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 July 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
41 Rodney Road |
Cheltenham |
Gloucestershire |
GL50 1HX |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED (REGISTERED NUMBER: 03549403) |
BALANCE SHEET |
31 July 2017 |
2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
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 |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED (REGISTERED NUMBER: 03549403) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 July 2017 |
1. | STATUTORY INFORMATION |
Abbeywood International Recruitment Limited is a |
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 |
Goodwill |
The carrying value of goodwill is regularly reviewed by the directors and further adjustments are made where indicators of |
impairment are found. |
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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. |
Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. |
Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are |
charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED (REGISTERED NUMBER: 03549403) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 July 2017 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 August 2016 |
and 31 July 2017 |
AMORTISATION |
At 1 August 2016 |
and 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
Included within bank loans and overdrafts is an amount under invoice discounting arrangements, which is secured on the |
related trade debtors of £nil (2016-£229,201) and by a fixed and floating charge over the assets of the company. |
The bank overdraft is secured by personal guarantees provided by the directors as detailed in note 10. |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 August 2016 |
Profit for the year |
Dividends | ( |
) |
At 31 July 2017 |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED (REGISTERED NUMBER: 03549403) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 July 2017 |
9. | CONTINGENT LIABILITIES |
There were no contingent liabilities at 31st July 2017 (2016: £nil). |
10. | RELATED PARTY DISCLOSURES |
During the year the following transactions occurred with related parties:- |
N J Mitchell is also a director of Mitchell Glanville Limited which invoiced this company £12,000 (2016-£18,000) during the year for accounting services and costs incurred.The balance owing at the end of the year was £nil (2016-£nil) |
Dividends of £20,000 (2016-£20,000) were declared in the year and paid to the two directors and their close family, who |
were the shareholders. |
During the year, £3,000 (2016-£2,250) was paid to the husband of Mrs E M D Reid (a director and shareholder) for rent. |
The balance owing at the year end was £250 (2016-£250). |
N J Mitchell, director, has given a personal guarantee to the bank amounting to £50,000 (2016-£50,000). |
E M D Reid, director,has given a personal guarantee to the bank amounting to £50,000 (2016-£50,000). |
At the year end date, N J Mitchell was owed £75,000 and Mrs E M D Reid was owed £25,000 by the company. Interest has |
been charged on the loan at 6.5%. |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED |
REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF |
ABBEYWOOD INTERNATIONAL RECRUITMENT |
LIMITED |
The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited |
financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. |
Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are |
not required to be filed with the Registrar of Companies. |
As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 July 2017 set out on pages nil to nil and you consider that the company is exempt from an audit. |
In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us. |
Chartered Accountants |
41 Rodney Road |
Cheltenham |
Gloucestershire |
GL50 1HX |