REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
ABBEY MILLS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017 |
FOR |
ABBEY MILLS LIMITED |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ABBEY MILLS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
BALANCE SHEET |
31 JULY 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
BALANCE SHEET - continued |
31 JULY 2017 |
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 behalf by: |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2017 |
1. | STATUTORY INFORMATION |
Abbey Mills Limited 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 have been prepared in accordance with the provision 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. The |
date of transition is 1 August 2015 . The transition to FRS 102 Section 1A small entities has resulted in |
no material changes in accounting policies nor material adjustments on transition. |
Turnover |
Turnover represents net invoiced rentals during the period under review, excluding value added tax. |
Tangible fixed assets |
Fixtures and fittings | - |
Investment property |
Investment properties are shown at their open market value. The surplus or deficit arising from the |
revaluation is transferred to other comprehensive income as required by FRS 102 Section 1A. |
Financial instruments |
Financial Instruments are classified by the directors as basic or advanced following the conditions in |
FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective |
interest method. |
Going concern |
In the opinion of the directors there are no material uncertainties that may cast significant doubt about |
the company's ability to continue as a going concern. |
Provisons |
Provisions are set up only where it is probable that a present obligation exists as a result of an event |
prior to the balance sheet date and that a payment will be required in settlement that can be estimated |
reliably. Where material, provisions are calculated on a discounted basis. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 August 2016 |
and 31 July 2017 |
DEPRECIATION |
At 1 August 2016 |
Charge for year |
At 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 August 2016 |
and 31 July 2017 |
NET BOOK VALUE |
At 31 July 2017 |
At 31 July 2016 |
Fair value at 31 July 2017 is represented by: |
£ |
Valuation in 2010 | 1,260,000 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Corporation Tax |
VAT | 7,132 | 7,788 |
Directors' loan accounts | 7,031 | 57,501 |
Accruals & Deferred Income |
ABBEY MILLS LIMITED (REGISTERED NUMBER: 01902086) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2017 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the years ended 31 July 2017 and |
31 July 2016: |
2017 | 2016 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced | ( |
) |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
There are no set repayment terms, and interest is not being charged on the Director's Loan Account. |