REGISTERED NUMBER: 06323619 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017

FOR

ABBEY POLYTHENE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J Waight

SECRETARY:

Mrs S Waight

REGISTERED OFFICE:

6a The Gardens

Broadcut

Fareham

Hampshire

PO16 8SS

REGISTERED NUMBER:

06323619 (England and Wales)

ACCOUNTANTS:

MFA Accountants Limited

6A The Gardens

Broadcut

Fareham

Hampshire

PO16 8SS

BANKERS:

National Westminster Bank PLC

2 Portsmouth Road

Woolston

Hampshire

SO19 9AA

FIXED ASSETS

Intangible assets

4

18,400

20,240

Tangible assets

5

5,660

4,234

24,060

24,474

CURRENT ASSETS

Stocks

16,902

20,237

Debtors

6

323,750

281,415

Cash at bank

322,632

370,116

663,284

671,768

CREDITORS

Amounts falling due within one year

7

473,179

536,715

NET CURRENT ASSETS

190,105

135,053

TOTAL ASSETS LESS CURRENT LIABILITIES

214,165

159,527

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

214,065

159,427

SHAREHOLDERS' FUNDS

214,165

159,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 1 December 2017 and were signed by:

J Waight - Director

1.	STATUTORY INFORMATION

Abbey Polythene 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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

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

-

25% on reducing balance

Computer equipment

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

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 3 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 August 2016

and 31 July 2017

36,800

AMORTISATION

At 1 August 2016

16,560

Charge for year

1,840

At 31 July 2017

18,400

NET BOOK VALUE

At 31 July 2017

18,400

At 31 July 2016

20,240

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 August 2016

8,330

1,492

4,000

2,546

16,368

Additions

2,000

-

-

460

2,460

At 31 July 2017

10,330

1,492

4,000

3,006

18,828

DEPRECIATION

At 1 August 2016

5,861

1,146

3,700

1,427

12,134

Charge for year

670

52

75

237

1,034

At 31 July 2017

6,531

1,198

3,775

1,664

13,168

NET BOOK VALUE

At 31 July 2017

3,799

294

225

1,342

5,660

At 31 July 2016

2,469

346

300

1,119

4,234

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade debtors

301,369

270,098

Other debtors

22,381

11,317

323,750

281,415

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.7.17

31.7.16

£

£

Trade creditors

409,492

384,219

Taxation and social security

33,865

29,433

Other creditors

29,822

123,063

473,179

536,715

8.	RELATED PARTY DISCLOSURES

At the commencement of trading Abbey Polythene Limited took over the assets and liabilities of Mr J Waight,

the director, who traded as Abbey Polythene 1996.

At the year end £26,989 (2016 119,126) was owing to Mr J Waight and is disclosed as other creditors.

9.	ULTIMATE CONTROLLING PARTY

The sole director is the ultimate controlling party.