REGISTERED NUMBER: 03313226 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 April 2017

for

Abbey Security Services Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I T Whitaker-Bethel

REGISTERED OFFICE:

Porters House 32-33 Eastern Way

Bury St. Edmunds

Suffolk

IP32 7AB

REGISTERED NUMBER:

03313226 (England and Wales)

ACCOUNTANTS:

Knights Lowe Chartered Accountants

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

388,256

413,192

Investments

5

46,889

46,889

435,145

460,081

CURRENT ASSETS

Debtors

6

205,319

239,970

Cash at bank and in hand

26,677

68,889

231,996

308,859

CREDITORS

Amounts falling due within one year

7

253,874

278,110

NET CURRENT (LIABILITIES)/ASSETS

(21,878

)

30,749

TOTAL ASSETS LESS CURRENT LIABILITIES

413,267

490,830

CREDITORS

Amounts falling due after more than one year

8

(217,300

)

(262,399

)

PROVISIONS FOR LIABILITIES

10

-

(611

)

NET ASSETS

195,967

227,820

CAPITAL AND RESERVES

Called up share capital

11

30,000

30,000

Revaluation reserve

12

26,659

26,659

Retained earnings

139,308

171,161

SHAREHOLDERS' FUNDS

195,967

227,820

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 6 December 2017 and were signed by:

I T Whitaker-Bethel - Director

1.	STATUTORY INFORMATION

Abbey Security Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

These financial statements are the first financial statements that comply with FRS 102 Section 1A small entities.

The date of transition is 1 May 2015. The transition has resulted in an alignment of accounting policies to those

required in the adoption of FRS 102 and FRS 102 1A. Any impact is explained in the notes to these financial

statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for contracts completed at

the balance sheet date, excluding discounts, rebates, value added tax and other sales taxes. The Company's

contractual obligations are performed over time therefore revenue is recognised as the contract activity

progresses to reflect the Company's partial performance of its contractual obligations. Revenue is calculated by

reference to the value of work performed.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

3 years straight line

In the director's opinion, the residual value of the freehold buildings exceeds the cost and depreciation has

therefore not been charged.

Financial instruments

Basic financial instruments are recognised at amortised cost, with changes recognised in the income statement.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital

element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Impairment

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but

excluding investment properties, are assessed to determine whether there is an indication that the carrying

amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is

an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use

and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is

lower, the carrying amount of the asset is written down to its estimated recoverable amount and an

impairment loss is recognised in profit and loss.

Fixed asset investments

Investment property held to earn rental income and/or capital appreciation is included in the balance sheet at

fair value where such value can be measured reliably without undue cost or effort on an ongoing basis. Fair

value adjustments are taken to the profit and loss account. In that no depreciation is charged, this is a

departure from the requirements of the Companies Act 2006. In the directors opinion to charge depreciation (a

measure of consumption) would not produce a true and fair view given that the property is held for investment

and, it is considered the amount of the charge is not material in the context of the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 45 (2016 - 73 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 May 2016

358,467

365,030

723,497

Additions

-

6,369

6,369

Disposals

-

(31,578

)

(31,578

)

At 30 April 2017

358,467

339,821

698,288

DEPRECIATION

At 1 May 2016

50,563

259,742

310,305

Charge for year

438

26,326

26,764

Eliminated on disposal

-

(27,037

)

(27,037

)

At 30 April 2017

51,001

259,031

310,032

NET BOOK VALUE

At 30 April 2017

307,466

80,790

388,256

At 30 April 2016

307,904

105,288

413,192

Cost or valuation at 30 April 2017 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2003

26,659

-

26,659

Cost

331,808

339,821

671,629

358,467

339,821

698,288

Freehold property is included at its open market value. The director does not believe the market value at

30 April 2017, of the freehold property at Eastern Way, Bury St Edmunds, is materially different from the book

value.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST OR VALUATION

At 1 May 2016

101,009

Reclassification/transfer

(1,456

)

At 30 April 2017

99,553

DEPRECIATION

At 1 May 2016

22,635

Charge for year

19,269

Reclassification/transfer

(153

)

At 30 April 2017

41,751

NET BOOK VALUE

At 30 April 2017

57,802

At 30 April 2016

78,374

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2016

and 30 April 2017

46,889

NET BOOK VALUE

At 30 April 2017

46,889

At 30 April 2016

46,889

6.

DEBTORS

2017

2016

£

£

Amounts falling due within one year:

Trade debtors

133,292

173,498

Other debtors

67,407

65,240

200,699

238,738

2017

2016

£

£

Amounts falling due after more than one year:

Other debtors

4,620

1,232

Aggregate amounts

205,319

239,970

Prepayments included within other debtors

26,020

25,542

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

17,386

15,683

Hire purchase contracts

24,745

26,284

Payments on account

2,489

7,332

Trade creditors

41,545

44,506

Taxation and social security

77,021

93,310

Other creditors

90,688

90,995

253,874

278,110

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

190,009

208,482

Hire purchase contracts

24,074

45,167

Other creditors

3,217

8,750

217,300

262,399

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

133,931

157,391

9.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

207,395

224,165

Hire purchase contracts

48,819

71,451

256,214

295,616

The bank borrowings of the company are secured on an insurance policy on the life of I T Whitaker-Bethel and

by a personal guarantee given by him.

Hire purchase liabilities are secured on the asset financed.

10.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Accelerated capital allowances

-

611

Deferred

tax

£

Balance at 1 May 2016

611

Credit to Income Statement during year

(611

)

Balance at 30 April 2017

-

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

30,000

Ordinary

£1

30,000

30,000

12.

RESERVES

Revaluation

reserve

£

At 1 May 2016

and 30 April 2017

26,659

13.	OTHER FINANCIAL COMMITMENTS

The company had guarantees and commitments at the balance sheet date of £1,188 (2016 - £nil).

14.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2017 and

30 April 2016:

2017

2016

£

£

I T Whitaker-Bethel

Balance outstanding at start of year

4,927

34,154

Amounts advanced

32,694

22,859

Amounts repaid

(22,268

)

(52,086

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

15,353

4,927

The loan is unsecured and with no repayment terms agreed, is repayable on demand. Interest has been

charged at HMRC's official beneficial loan arrangement rate of 3% until 5th April 2017 and 2.5% to the year end.