REGISTERED NUMBER: 06506342 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28th February 2017

for

ABBEYMAN ESTATES LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

P A Campfield

D Smithies

SECRETARY:

P A Campfield

REGISTERED OFFICE:

Mill Farm

Station Road

Flax Burton

Bristol

BS48 1NG

REGISTERED NUMBER:

06506342 (England and Wales)

ACCOUNTANTS:

Byrne Palmer & Co

Chartered Accountants

14 Queens Road

Hersham

Walton on Thames

Surrey

KT12 5LS

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Abbeyman Estates Limited for the year ended 28th February 2017 which comprise the Income

Statement, 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Abbeyman Estates Limited, as a body, in accordance with the terms of our engagement letter dated 30th November 2016. Our work has been undertaken solely to prepare for your approval the financial statements of Abbeyman Estates Limited and state those matters that we have agreed to state to the Board of Directors of Abbeyman Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Abbeyman Estates Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Abbeyman Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Abbeyman Estates Limited. You consider that Abbeyman Estates 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 financial statements of Abbeyman Estates 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 statutory financial statements.

Byrne Palmer & Co

Chartered Accountants

14 Queens Road

Hersham

Walton on Thames

Surrey

KT12 5LS

30th November 2017

CURRENT ASSETS

Stocks

1,810,309

2,923,856

Debtors

3

13,550

11,051

Cash at bank

4,262

241,085

1,828,121

3,175,992

CREDITORS

Amounts falling due within one year

4

2,038,783

3,353,304

NET CURRENT LIABILITIES

(210,662

)

(177,312

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(210,662

)

(177,312

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(210,762

)

(177,412

)

SHAREHOLDERS' FUNDS

(210,662

)

(177,312

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2017 in accordance with Section 476 of the Companies Act 2006.

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.

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 Board of Directors on 28th November 2017 and were signed on its behalf by:

D Smithies - Director

1.	STATUTORY INFORMATION

Abbeyman Estates 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.

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 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 represents the net sale proceeds of property sales after selling costs.

Stocks

Stocks represent the cost or net realisable value of un sold property developments at the balance date.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties and loans to related parties.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

6,150

3,312

Other debtors

7,400

7,739

13,550

11,051

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

791,500

1,323,479

Trade creditors

493,834

770,635

Taxation and social security

5,363

-

Other creditors

748,086

1,259,190

2,038,783

3,353,304

The bank loans are to be paid out of the proceeds of sale of the respective development properties on which they

are secured, sales have been made during the year and are currently being made, the bank loans have therefore

been classified as amounts falling due within one year.

Other creditors include £696,635 relating to current account balances due to the shareholders, these balances will

also be repaid out of the development sales but only after the bank loans have been discharged, they have also

been classified as amounts falling due within one year.

It is likely that some element of the bank loans and the shareholder's loans will in fact not be paid within one year

but it is not possible to quantify this.

5.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

791,500

1,323,479

6.	RELATED PARTY DISCLOSURES

Expenditure:

Construction and Real Estate Limited (a company in which D Smithies has an interest) has carried out

construction work on the company's developments, all work was done at commercial rates.

Liabilities:

Abbeyman Investments Limited (a company in which P A Campfield has an interest) current account balance

£328,556.

CELRE Consultancy ( a company in which P A Campfield has an interest) accrued management charges £50,000

Construction and Real Estate Limited (a company in which D Smithies has an interest) current account balance

£366,079, accrued management fees £50,000.

.

7.	ULTIMATE CONTROLLING PARTY

The company is controlled by companies controlled by the directors.

8.	GOING CONCERN

The company has accumulated losses and a balance sheet deficit, the shareholders provide working capital via

unsecured current accounts with the company. This support is to continue to enable the company to meet its

commitments as they fall due. The accounts are therefore drawn on the going concern basis.

9.	FIRST YEAR ADOPTION

The provisions of FRS102 were adopted from 1 march 2015, no adjustments were needed to the previously

reported comparative figures as detailed in the reconciliations of equity.