REGISTERED NUMBER: 06547503 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abstract Developments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M Gynn

REGISTERED OFFICE:

55 Princes Gardens

Peterborough

Cambridgeshire

REGISTERED NUMBER:

06547503 (England and Wales)

ACCOUNTANTS:

Martin & Co.

13 Broadlands

Syderstone

King's Lynn

Norfolk

PE31 8ST

FIXED ASSETS

Tangible assets

4

293,871

187,657

CURRENT ASSETS

Stocks

5

3,750

3,000

Debtors

6

14,937

10,547

Cash at bank and in hand

16,008

7,146

34,695

20,693

CREDITORS

Amounts falling due within one year

7

378,622

250,416

NET CURRENT LIABILITIES

(343,927

)

(229,723

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,056

)

(42,066

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(50,156

)

(42,166

)

SHAREHOLDERS' FUNDS

(50,056

)

(42,066

)

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

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

The director acknowledges her 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 21 December 2017 and were signed by:

M Gynn - Director

1.	STATUTORY INFORMATION

Abstract Developments 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.

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.

Tangible fixed assets

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

Equipment

-

25% on reducing balance

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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2016 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

property

Equipment

Totals

£

£

£

COST

At 1 April 2016

178,000

15,040

193,040

Additions

101,130

9,997

111,127

At 31 March 2017

279,130

25,037

304,167

DEPRECIATION

At 1 April 2016

-

5,383

5,383

Charge for year

-

4,913

4,913

At 31 March 2017

-

10,296

10,296

NET BOOK VALUE

At 31 March 2017

279,130

14,741

293,871

At 31 March 2016

178,000

9,657

187,657

5.

STOCKS

2017

2016

£

£

Stocks

3,750

3,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

14,937

10,547

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1

-

Other creditors

378,621

250,416

378,622

250,416

8.	ULTIMATE CONTROLLING PARTY

The controlling party is M Gynn.

The ultimate controlling party is M Gynn.