REGISTERED NUMBER: 04109578 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abbeyview Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P R Jones

Mrs B E Jones

SECRETARY:

Mrs B E Jones

REGISTERED OFFICE:

7 Union Street

Newton Abbot

Devon

TQ12 2JX

REGISTERED NUMBER:

04109578 (England and Wales)

ACCOUNTANTS:

Tamara Harrison & Co Ltd

7 Union Street

Newton Abbot

Devon

TQ12 2JX

FIXED ASSETS

Tangible assets

4

1,292,103

636,539

CURRENT ASSETS

Debtors

5

1,940

1,201

Cash at bank and in hand

5,309

11,304

7,249

12,505

CREDITORS

Amounts falling due within one year

6

400,899

399,767

NET CURRENT LIABILITIES

(393,650

)

(387,262

)

TOTAL ASSETS LESS CURRENT LIABILITIES

898,453

249,277

CREDITORS

Amounts falling due after more than one year

7

(56,758

)

(83,401

)

PROVISIONS FOR LIABILITIES

(124,564

)

-

NET ASSETS

717,131

165,876

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

717,129

165,874

SHAREHOLDERS' FUNDS

717,131

165,876

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 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.

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 Board of Directors on 28 December 2017 and were signed on its behalf by:

P R Jones - Director

1.	STATUTORY INFORMATION

Abbeyview Properties 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 as modified by the revaluation of certain assets.

Turnover

Turnover comprises rents received from investment properties.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Investment properties are accounted for in accordance with the Financial Reporting

Standard for Smaller Entities (effective June 2002). No depreciation is provided in repsect of

such properties. Although the Companies Act 1985 would normally require systematic

annual depreciation of fixed assets it is believed that this policy of not providing depreciation

is necessary in order for the accounts to give a true and fair view, since the current value of

investment properties, and changes in current value, are of prime importance rather than the

calculation of systematic annual depreciation.

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 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Investment

Motor

properties

vehicles

Totals

£

£

£

COST OR VALUATION

At 1 April 2016

636,402

3,250

639,652

Revaluations

655,598

-

655,598

At 31 March 2017

1,292,000

3,250

1,295,250

DEPRECIATION

At 1 April 2016

-

3,113

3,113

Charge for year

-

34

34

At 31 March 2017

-

3,147

3,147

NET BOOK VALUE

At 31 March 2017

1,292,000

103

1,292,103

At 31 March 2016

636,402

137

636,539

Cost or valuation at 31 March 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2017

1,292,000

-

1,292,000

Cost

-

3,250

3,250

1,292,000

3,250

1,295,250

If investment properties had not been revalued they would have been included at the

following historical cost:

2017

2016

£

£

Cost

636,402

636,402

Value of land in freehold land and buildings

636,402

636,402

Investment properties were valued on an open market basis on 31 March 2017 by the director

.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Other debtors

1,940

1,201

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

30,549

25,491

Tax

7,564

9,007

Directors' current accounts

362,024

364,543

Accrued expenses

762

726

400,899

399,767

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Loan - 44003950

45,671

49,896

Loan - 84146115

11,087

33,505

56,758

83,401

Bank loans outstanding at the year end include instalments due after more than five years of

£29,606 (2016 - £34,664).

8.	ULTIMATE CONTROLLING PARTY

The company is under the control of the directors.