| Abbot Grange Limited |
|
| Chartered Accountants' report to the board of directors on the preparation of the unaudited abbreviated accounts of Abbot Grange Limited for the year ended 31 December 2015 |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abbreviated accounts of Abbot Grange Limited for the year ended 31 December 2015 which comprise of the balance sheet 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, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook. |
| This report is made solely to the Board of Directors of Abbot Grange Limited, as a body, in accordance with the terms of our engagement letter dated 12 January 2012. Our work has been undertaken solely to prepare for your approval the accounts of Abbot Grange Limited and state those matters that we have agreed to state to the Board of Directors of Abbot Grange Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbot Grange Limited and its Board of Directors as a body for our work or for this report. |
| It is your duty to ensure that Abbot Grange 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 Abbot Grange Limited. You consider that Abbot Grange 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 Abbot Grange 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 abbreviated accounts. |
|
| Jon Essam & Co. Ltd |
| Chartered Accountants |
| 23 Cottingham Way |
| Thrapston |
| Northants |
| NN14 4PL |
|
| 10 June 2016 |
|
| Abbot Grange Limited |
| Registered number: |
03731679 |
| Abbreviated Balance Sheet |
| as at 31 December 2015 |
|
| Notes |
|
|
2015 |
|
|
2014 |
| £ |
£ |
| Fixed assets |
| Intangible assets |
2 |
|
|
96,249 |
|
|
110,249 |
| Tangible assets |
3 |
|
|
2,580,268 |
|
|
2,581,376 |
|
|
|
|
2,676,517 |
|
|
2,691,625 |
|
| Current assets |
| Stocks |
|
|
9,380 |
|
|
14,185 |
| Debtors |
|
|
49,921 |
|
|
52,777 |
| Cash at bank and in hand |
|
|
1,866 |
|
|
7,985 |
|
|
|
61,167 |
|
|
74,947 |
|
| Creditors: amounts falling due within one year |
|
|
(684,167) |
|
|
(695,786) |
|
| Net current liabilities |
|
|
|
(623,000) |
|
|
(620,839) |
|
| Total assets less current liabilities |
|
|
|
2,053,517 |
|
|
2,070,786 |
|
| Creditors: amounts falling due after more than one year |
|
|
|
(2,506,000) |
|
|
(2,575,988) |
|
| Provisions for liabilities |
|
|
|
(9,840) |
|
|
(8,697) |
|
|
| Net liabilities |
|
|
|
(462,323) |
|
|
(513,899) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
5 |
|
|
2 |
|
|
2 |
| Revaluation reserve |
|
|
|
172,628 |
|
|
172,628 |
| Profit and loss account |
|
|
|
(634,953) |
|
|
(686,529) |
|
| Shareholders' funds |
|
|
|
(462,323) |
|
|
(513,899) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| 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. |
| The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. |
|
|
|
| R K Sachdev |
| Director |
| Approved by the board on 10 June 2016 |
|
| Abbot Grange Limited |
| Notes to the Abbreviated Accounts |
| for the year ended 31 December 2015 |
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015). |
|
|
Turnover |
|
Turnover represents the value, net of value added tax and discounts, of food and beverage sales to customers and hotel accomodation. |
|
|
Depreciation |
|
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
|
|
Freehold property |
Not provided (properties revalued in 2014) |
|
Property improvements |
Not provided (properties revalued in 2014) |
|
Equipment |
20% reducing balance |
|
Fixtures and fittings |
10% reducing balance |
|
|
Stocks |
|
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net relisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net relisable value is less than cost. |
|
|
Deferred taxation |
|
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse. |
|
|
Leasing and hire purchase commitments |
|
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.
The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.
Rentals paid under operating leases are charged to income on a straight line basis over the lease term. |
|
|
Going concern |
|
The company currently meets its daily working capital requirement through operating revenues and financial support from the director and creditors. On this basis the director considers it appropriate to prepare the accounts on the going concern basis. The accounts do not include any adjustments that would result from the failure to raise any additonal finance that may prove necessary. |
|
|
| 2 |
Intangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2015 |
210,000 |
|
At 31 December 2015 |
210,000 |
|
|
|
|
|
|
|
|
Amortisation |
|
At 1 January 2015 |
99,751 |
|
Provided during the year |
14,000 |
|
At 31 December 2015 |
113,751 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2015 |
96,249 |
|
At 31 December 2014 |
110,249 |
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
£ |
|
|
Cost |
|
At 1 January 2015 |
2,779,979 |
|
Additions |
10,445 |
|
At 31 December 2015 |
2,790,424 |
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2015 |
198,603 |
|
Charge for the year |
11,553 |
|
At 31 December 2015 |
210,156 |
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2015 |
2,580,268 |
|
At 31 December 2014 |
2,581,376 |
|
|
|
|
|
|
|
|
| 4 |
Loans |
2015 |
|
2014 |
| £ |
£ |
|
Creditors include: |
|
Amounts falling due for payment after more than five years |
1,930,000 |
|
2,062,000 |
|
Secured bank loans |
2,674,779 |
|
2,722,926 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Share capital |
Nominal |
|
2015 |
|
2015 |
|
2014 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2 |
|
2 |
|
2 |
|
|
|
|
|
|
|
|
|