REGISTERED NUMBER: 06645330 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017

FOR

ABBEY PLUMBING SUPPLIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I R Evans

Mrs H J Alway

SECRETARY:

Mrs H J Alway

REGISTERED OFFICE:

Chargrove House

Main Road

Shurdington

Cheltenham

Gloucestershire

GL51 4GA

BUSINESS ADDRESS:

Unit 2 Hazels Way Industrial Estate

Charfield Road

Kingswood

Wotton-under-Edge

Gloucestershire

GL12 8RL

REGISTERED NUMBER:

06645330 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Tangible assets

4

3,812

4,510

CURRENT ASSETS

Stocks

102,387

95,561

Debtors

5

176,541

112,184

Cash at bank

118,235

106,843

397,163

314,588

CREDITORS

Amounts falling due within one year

6

195,522

142,735

NET CURRENT ASSETS

201,641

171,853

TOTAL ASSETS LESS CURRENT LIABILITIES

205,453

176,363

PROVISIONS FOR LIABILITIES

724

902

NET ASSETS

204,729

175,461

CAPITAL AND RESERVES

Called up share capital

20,000

20,000

Retained earnings

184,729

155,461

SHAREHOLDERS' FUNDS

204,729

175,461

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 24 April 2018 and were signed on its behalf by:

Mr I R Evans - Director

Mrs H J Alway - Director

1.	STATUTORY INFORMATION

Abbey Plumbing Supplies 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 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 2016 . 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 is measured at the fair value of the consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tenants' improvements

-

Straight line over the term of the lease

Fixtures and fittings

-

15% on reducing balance

Computer and office equipment

-

30% 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.

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.

Hire purchase and leasing commitments

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

period of the lease.

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.

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.

Provisions

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 4 .

4.	TANGIBLE FIXED ASSETS

Computer

Fixtures

and

Tenants'

and

office

improvements

fittings

equipment

Totals

£

£

£

£

COST

At 1 August 2016

and 31 July 2017

6,060

13,471

2,500

22,031

DEPRECIATION

At 1 August 2016

6,060

9,105

2,356

17,521

Charge for year

-

655

43

698

At 31 July 2017

6,060

9,760

2,399

18,219

NET BOOK VALUE

At 31 July 2017

-

3,711

101

3,812

At 31 July 2016

-

4,366

144

4,510

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

175,228

110,803

Directors' loan accounts

160

200

Prepayments

1,153

1,181

176,541

112,184

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

164,901

119,167

Corporation Tax

11,209

10,785

Social security and other taxes

1,024

922

VAT

14,511

7,930

Other creditors

87

-

Directors' loan accounts

1,011

1,221

Accrued expenses

2,779

2,710

195,522

142,735

7.	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

£

£

Mr I R Evans

Balance outstanding at start of year

(1,221

)

(3,261

)

Amounts advanced

210

2,040

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(1,011

)

(1,221

)

Mrs H J Alway

Balance outstanding at start of year

200

-

Amounts advanced

210

200

Amounts repaid

(250

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

160

200