Abbey College in Malvern Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08661073 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2017

FOR

ABBEY COLLEGE IN MALVERN LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTORS:

Ms H Mirkamali

H Kaveh Baghbadrani

SECRETARY:

M N Baghbadrani

REGISTERED OFFICE:

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

REGISTERED NUMBER:

08661073 (England and Wales)

ACCOUNTANTS:

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

FIXED ASSETS

Tangible assets

4

58,255

95,776

CURRENT ASSETS

Debtors

2,209,471

2,184,632

Cash at bank and in hand

410,586

444,115

2,620,057

2,628,747

CREDITORS

Amounts falling due within one year

(1,018,321

)

(1,659,337

)

NET CURRENT ASSETS

1,601,736

969,410

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,659,991

1,065,186

PROVISIONS FOR LIABILITIES

(15,444

)

(19,155

)

NET ASSETS

1,644,547

1,046,031

CAPITAL AND RESERVES

Called up share capital

6

100

Retained earnings

1,644,447

1,045,931

SHAREHOLDERS' FUNDS

1,644,547

1,046,031

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 7 June 2018 and were signed on its
behalf by:

H Kaveh Baghbadrani - Director

1.	STATUTORY INFORMATION

Abbey College in Malvern 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

Income represents student college fees, outside the scope of VAT.

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

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

20% on reducing balance

Computer equipment

-

33% on cost

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

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 46 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 September 2016

172,470

Additions

1,485

Disposals

(46,428

)

At 31 August 2017

127,527

DEPRECIATION

At 1 September 2016

76,694

Charge for year

11,588

Eliminated on disposal

(19,010

)

At 31 August 2017

69,272

NET BOOK VALUE

At 31 August 2017

58,255

At 31 August 2016

95,776

5.	SECURED DEBTS

One of the company's banks has a debenture over the company's assets.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.17

31.8.16

value:

£

100

Ordinary shares

£1

100

7.	RELATED PARTY DISCLOSURES

Crystalight Limited

Company under common control

H Kaveh, director of the company, is also a director and shareholder of Crystalight Limited. This

company has advanced working capital to the related party. At the year end the company was owed

£1,879,569 (2016: £1,909,130) by the related party, which is shown in 'other debtors' in these financial

statements. This debt is unsecured; no terms of interest or repayment have been agreed.

Pittville Properties Limited

Company under common control

H Kaveh, director of the company, is also a director of Pittville Properties Limited. This company has

provided working capital to the related party, some of which was repaid during the year. At the year

end the company was owed £7,467 (2016: £7,565) by the related party, which is shown in 'other

debtors' in these financial statements. This debt is unsecured; no terms of interest or repayment have

been agreed.

A. D. B. (Malvern) Limited

Company under common control

H Kaveh, director of the company, is also a director of A. D. B. (Malvern) Limited. This company has

provided working capital to the related party. At the year end the company was owed £112,325 (2016:

£114,366) by the related party, which is shown in 'other debtors' in these financial statements. This

debt is unsecured; no terms of interest or repayment have been agreed.

Watin Limited

Company under common control

H Kaveh, director of the company, is also a director of Watin Limited. This company has provided

working capital to the related party. At the year end the company was owed £179,711 (2016:

£126,656) by the related party, which is shown in 'other debtors' in these financial statements. This

debt is unsecured; no terms of interest or repayment have been agreed.

Shafie Accumulation and Maintenance Trust

Trust in which the sole director is a trustee.

H Kaveh and Ms H Mirkamali are trustees of the Shafie Accumulation and Maintenance Trust, which

has made charges on an arms length basis to the company in respect of use of its facilities by this

company. At the year end the company owed £99,903 (2016: £100,012) to the related party, which is

shown in 'other creditors' in these financial statements. This debt is unsecured; no terms of interest or

repayment have been agreed.

M Noor

M Noor, a senior employee of this company and a family relation of the directors, was lent money by

this company during a previous year. At the year ended the company was owed £3,699 (2016:

£3,699), which is included in 'other debtors' in these financial statements. This debt is unsecured; no

terms of interest or repayment have been agreed.

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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Abbey College in Malvern Limited for the year ended 31 August 2017 which

comprise the Statement of Income and Retained Earnings, Abridged Statement of Financial Position and the

related notes from the company's accounting records and from information and explanations you have given

us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Abbey College in Malvern Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Abbey College in Malvern Limited and state those matters that we have agreed to state to the Board of Directors of Abbey College in Malvern Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbey College in Malvern Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abbey College in Malvern Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Abbey College in Malvern Limited. You consider that Abbey College in Malvern 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 financial statements of Abbey College in Malvern 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 financial statements.

Andorran Limited

6 Manor Park Business Centre

Mackenzie Way

Cheltenham

Gloucestershire

GL51 9TX

7 June 2018