REGISTERED NUMBER: 05290967 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2016

FOR

ABCO PROPERTIES LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A C Beltran

SECRETARY:

Kenilworth Trading Limited

REGISTERED OFFICE:

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

REGISTERED NUMBER:

05290967 (England and Wales)

ACCOUNTANTS:

Bernard Rogers & Co

Bank Gallery

High Street

Kenilworth

Warwickshire

CV8 1LY

FIXED ASSETS

Intangible assets

2

-

-

Tangible assets

3

2,845

4,177

2,845

4,177

CURRENT ASSETS

Debtors

2,828

928

Cash at bank

27,231

33,497

30,059

34,425

CREDITORS

Amounts falling due within one year

32,902

29,757

NET CURRENT (LIABILITIES)/ASSETS

(2,843

)

4,668

TOTAL ASSETS LESS CURRENT LIABILITIES

2

8,845

CREDITORS

Amounts falling due after more than one year

-

5,213

NET ASSETS

2

3,632

CAPITAL AND RESERVES

Called up share capital

4

1

1

Profit and loss account

1

3,631

SHAREHOLDERS' FUNDS

2

3,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 11 January 2017 and were signed by:

A C Beltran - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements 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 net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

25% on cost and 25% on reducing balance

Deferred tax

Deferred tax is provided in full on timing differences which result in an obligation at the Balance Sheet date to

pay more tax, or a right to pay less tax, at a future date at rates expected to apply when they crystallise based on

current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in

taxation computations in periods different from those in which they are included in the financial statements.

Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be

recovered. Deferred tax assets and liabilities are not discounted.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Going concern

The financial statements are prepared on a going concern basis. This assumes that the company will continue in

operational existence for the foreseeable future, due to the continued support of its bankers through the loans and

overdraft facilities, and indirectly by Mr AC Beltran by his personal guarantees to the bank.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

65,000

AMORTISATION

At 1 December 2015

and 30 November 2016

65,000

NET BOOK VALUE

At 30 November 2016

-

At 30 November 2015

-

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2015

and 30 November 2016

41,355

DEPRECIATION

At 1 December 2015

37,178

Charge for year

1,332

At 30 November 2016

38,510

NET BOOK VALUE

At 30 November 2016

2,845

At 30 November 2015

4,177

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

1

Ordinary

£1

1

1

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year, the director's current account became overdrawn, the maximum amount and the year end

balance was £1,795. This has subsequently cleared.