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Registered Number : 03987514
England and Wales

 

 

 

ABBEYHORN LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 April 2016

End date: 31 March 2017

Abbeyhorn Limited
Contents Page
For the year ended 31 March 2017
Director Paul Cleasby
Registered Number 03987514
Registered Office Holme Mills
Holme
Carnforth
Lancs
LA6 1RD
Accountants SJW ACCOUNTANTS
Casterton Suite
CHBC
Burton in Kendal
LA6 1NU
Secretary Tracey Harris
1
In order to assist you to fulfil your duties under Companies Act 2006, we have prepared for your approval the accounts of Abbeyhorn Limited for the year ended 31 March 2017 which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://rulebook.accaglobal.com.

This report is made solely to the member of Abbeyhorn Limited, as a body, in accordance with the terms of our engagement letter dated . Our work has been undertaken solely to prepare for your approval the accounts of Abbeyhorn Limited and state those matters that we have agreed to state to the Board ofs of Abbeyhorn Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants and as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbeyhorn Limited and its members as a body for our work or for this report.

It is your duty to ensure that Abbeyhorn Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and Profit of Abbeyhorn Limited. You consider that Abbeyhorn Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Abbeyhorn Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.



....................................................
SJW ACCOUNTANTS
Casterton Suite
CHBC
Burton in Kendal
LA6 1NU
08 December 2017
2
 
 		 Notes
 		 2017
£		   2016
£
Fixed assets      
Intangible fixed assets 2 67,500    75,000 
Tangible fixed assets 3 120,841    93,334 
188,341    168,334 
Current assets      
Stocks 4 264,421    238,836 
Debtors 5 163,158    134,617 
Cash at bank and in hand 61,048    55,476 
488,627    428,929 
Creditors: amount falling due within one year 6 (139,164)   (133,268)
Net current assets 349,463    295,661 
 
Total assets less current liabilities 537,804    463,995 
Provisions for liabilities 7 (23,092)   (10,280)
Net assets 514,712    453,715 
 

Capital and reserves 		     
Called up share capital 8 60    60 
Profit and loss account 514,652    453,655 
Shareholders funds 514,712    453,715 
 


For the year ended 31 March 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
  2. 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
These accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The directors have elected not to include the profit and loss account within the financial statements.
Signed on behalf of the board of directors


--------------------------------
Paul Cleasby
Director

Date approved by the board: 08 December 2017
3
Statutory Information
Abbeyhorn Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number 03987514.

The presentation currency is £ sterling.
1.

Accounting Policies

Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Financial Reporting Standard for Smaller Entities (effective January 2016).
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the profit and loss account.
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Dividends
Proposed dividends are only included as liabilities in the financial statements when their payment has been approved by the shareholders prior to the balance sheet date.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 25% Reducing Balance
Fixtures and Fittings 15% Reducing Balance
Land and Buildings 15% Reducing Balance
Motor Vehicles 25% Reducing Balance
Plant and Machinery 15% Reducing Balance
Inventory
Inventories are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Intangible fixed assets

Cost or Valuation Goodwill   Total
  £   £
At 01 April 2016 75,000    75,000 
Additions -    - 
Disposals -    - 
At 31 March 2017 75,000    75,000 
Amortisation
At 01 April 2016 -    - 
Charge for year 7,500    7,500 
On disposals -    - 
At 31 March 2017 7,500    7,500 
Net book values
At 31 March 2017 67,500    67,500 
At 31 March 2016 75,000    75,000 


3.

Tangible fixed assets

Cost or Valuation Land and Buildings   Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £   £
At 01 April 2016 54,505    60,530    88    13,107    2,528    130,758 
Additions 13,766    9,764    21,500    758    -    45,788 
Disposals -    -    -    -    -    - 
At 31 March 2017 68,271    70,294    21,588    13,865    2,528    176,546 
Depreciation
At 01 April 2016 15,368    18,030    22    2,602    1,402    37,424 
Charge for year 6,944    6,411    2,535    2,016    375    18,281 
On disposals -    -    -    -    -    - 
At 31 March 2017 22,312    24,441    2,557    4,618    1,777    55,705 
Net book values
Closing balance as at 31 March 2017 45,959    45,853    19,031    9,247    751    120,841 
Opening balance as at 01 April 2016 39,137    42,500    66    10,505    1,126    93,334 


4.

Stocks

2017
£		   2016
£
Work in Progress 995    366 
Stocks 263,426    238,470 
264,421    238,836 

5.

Debtors: amounts falling due within one year

2017
£		   2016
£
Trade Debtors 133,543    129,242 
Prepayments & Accrued Income 3,431    5,375 
Directors' Current Accounts 25,371    0 
VAT 813    0 
163,158    134,617 

6.

Creditors: amount falling due within one year

2017
£		   2016
£
Trade Creditors 69,248    34,042 
Credit Card 2,218    2,811 
Corporation Tax 43,482    48,360 
PAYE & Social Security 4,840    5,262 
Accrued Expenses 2,800    2,950 
Deferred Grants 16,574    19,499 
Other Creditors 2    1 
Wages & Salaries Control Account 0    0 
Directors' Current Accounts 0    5,675 
VAT 0    14,668 
139,164    133,268 

7.

Provisions for liabilities

2017
£		   2016
£
Deferred Tax 10,280    11,924 
Charged to Profit & Loss 12,679    (1,644)
Pension Provisions 133    0 
23,092    10,280 

8.

Share Capital

Authorised
60 Class A shares of £1.00 each

Allotted
2017
£		   2016
£
60 Class A shares of £1.00 each 60    60 
60    60 

4