REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2017 |
for |
Abbey Security Services Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 April 2017 |
for |
Abbey Security Services Ltd |
Abbey Security Services Ltd (Registered number: 03313226) |
Contents of the Financial Statements |
for the Year Ended 30 April 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Abbey Security Services Ltd |
Company Information |
for the Year Ended 30 April 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Eldo House |
Kempson Way |
Suffolk Business Park |
Bury St Edmunds |
Suffolk |
IP32 7AR |
Abbey Security Services Ltd (Registered number: 03313226) |
Balance Sheet |
30 April 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | 10 | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Revaluation reserve | 12 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
Abbey Security Services Ltd (Registered number: 03313226) |
Balance Sheet - continued |
30 April 2017 |
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 |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements |
for the Year Ended 30 April 2017 |
1. | STATUTORY INFORMATION |
Abbey Security Services Ltd is a |
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 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 |
Fixtures and fittings | - |
Motor vehicles | - |
Computer equipment | - |
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. |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
2. | ACCOUNTING POLICIES - continued |
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 |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 May 2016 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 April 2017 |
DEPRECIATION |
At 1 May 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
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. |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
4. | TANGIBLE FIXED ASSETS - continued |
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 |
Reclassification/transfer | (1,456 | ) |
At 30 April 2017 |
DEPRECIATION |
At 1 May 2016 |
Charge for year |
Reclassification/transfer | ( |
) |
At 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 May 2016 |
and 30 April 2017 |
NET BOOK VALUE |
At 30 April 2017 |
At 30 April 2016 |
6. | DEBTORS |
2017 | 2016 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
6. | DEBTORS - continued |
2017 | 2016 |
£ | £ |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
Prepayments included within other debtors | 26,020 | 25,542 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Payments on account |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2017 | 2016 |
£ | £ |
Bank loans |
Hire purchase contracts |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans | 133,931 | 157,391 |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
2017 | 2016 |
£ | £ |
Bank loans |
Hire purchase contracts | 48,819 | 71,451 |
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 |
Credit to Income Statement during year | ( |
) |
Balance at 30 April 2017 |
11. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
Ordinary | £1 | 30,000 | 30,000 |
12. | RESERVES |
Revaluation |
reserve |
£ |
At 1 May 2016 |
and 30 April 2017 |
13. | OTHER FINANCIAL COMMITMENTS |
The company had guarantees and commitments at the balance sheet date of £1,188 (2016 - £nil). |
Abbey Security Services Ltd (Registered number: 03313226) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2017 |
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 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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. |