REGISTERED NUMBER: 04095121 (England and Wales)

REPORT OF THE DIRECTORS AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2016

FOR

THE ABBEY SPRINGS MANAGEMENT COMPANY LTD

Page

Company Information

1

Report of the Directors

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTORS:

K W Thornton

C M Bennett

C S Hoyland

M J D Cave

Mrs E P Robinson

SECRETARY:

P W Bigge

REGISTERED OFFICE:

Ossington Chambers

6-8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

REGISTERED NUMBER:

04095121 (England and Wales)

ACCOUNTANTS:

Stephenson Nuttall & Co

Chartered Accountants

6/8 Castle Gate

Newark

Nottinghamshire

NG24 1AX

The directors present their report with the financial statements of the company for the year ended 31st December 2016.

DIRECTORS

The directors shown below have held office during the whole of the period from 1st January 2016 to the date of this

report.

K W Thornton

C M Bennett

C S Hoyland

M J D Cave

Mrs E P Robinson

Other changes in directors holding office are as follows:

T J Bennett ceased to be a director after 31st December 2016 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small

companies.

ON BEHALF OF THE BOARD:

K W Thornton - Director

12th July 2017

INCOME

19,430

21,025

Service charge expenditure

18,013

21,035

OPERATING PROFIT/(LOSS)

1,417

(10

)

Interest receivable and similar income

19

16

PROFIT BEFORE TAXATION

1,436

6

Tax on profit

3

4

3

PROFIT FOR THE FINANCIAL YEAR

1,432

3

FIXED ASSETS

Tangible assets

4

21,262

21,262

CURRENT ASSETS

Debtors

5

34,617

24,530

CREDITORS

Amounts falling due within one year

6

34,594

24,507

NET CURRENT ASSETS

23

23

TOTAL ASSETS LESS CURRENT LIABILITIES

21,285

21,285

CREDITORS

Amounts falling due after more than one year

7

21,262

21,262

NET ASSETS

23

23

CAPITAL AND RESERVES

Called up share capital

8

23

23

SHAREHOLDERS' FUNDS

23

23

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2016 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 in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 12th July 2017 and were signed on its behalf by:

K W Thornton - Director

1.	STATUTORY INFORMATION

The Abbey Springs Management Company Ltd 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.

Income

During the year the company received monies from lessees, as agent, in respect of service charges and

associated income, which is held on trust and does not constitute turnover.

Tangible fixed assets

Freehold property is included in these financial statements at directors' valuation which reflects any diminution in

value due to the granting of leases. For this reason the directors consider that it is inappropriate to charge

depreciation on the remaining value of the freehold property. Furthermore, the directors consider that the

residual value of the freehold property in 50 years time would be no less than its current value.

Long term creditors

In December 2005 the lessees made one-off contributions totalling £21,262 to acquire the freehold interest in the

property referred to in the directors' report. This was achieved by the lessees contributing £1,251 each. This

amount will only be returned to lessees in the event of a disposal by the company of the freehold interest in the

property at a later date.

Presentation of the income statement

The presentation of the Income Statement on page 3 has been modified from the prescribed format for Company

accounts in order to provide more information to lessees and other parties who may be interested in the

expenditure incurred in the management of the property.

3.

TAXATION

Analysis of the tax charge

The tax charge on the profit for the year was as follows:

31/12/16

31/12/15

£

£

Current tax:

UK corporation tax

4

3

Tax on profit

4

3

4.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1st January 2016

and 31st December 2016

21,262

NET BOOK VALUE

At 31st December 2016

21,262

At 31st December 2015

21,262

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade debtors

10

20

Other debtors

34,607

24,510

34,617

24,530

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/16

31/12/15

£

£

Trade creditors

6,921

1,261

Other creditors

27,673

23,246

34,594

24,507

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/16

31/12/15

£

£

Other creditors

21,262

21,262

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/16

31/12/15

value:

£

£

23

Ordinary

£1

23

23

9.

RESERVES

Retained

earnings

£

Profit for the year

1,432

Transfer from Reserve Fund

(1,432

)

At 31st December 2016

-

10.	CONTINGENT LIABILITIES

The company had no contingent liabilities at 31st December 2015 (2014 - none).

11.	CAPITAL COMMITMENTS

31/12/16

31/12/15

£

£

Contracted but not provided for in the

financial statements

-

-

12.	RELATED PARTY DISCLOSURES

The company is a mutual trading company and as such received income in the form of service charge from

residents, some of whom are directors of the company. Service charges payable by the directors are on the same

basis as for all of the other residents.

13.	FIRST YEAR ADOPTION

These financial statements are the first which the company has prepared in accordance with the provisions of

Financial Reporting Standard 102 (FRS 102), including those of Section 1A relating to "Small Entities". The

transition to FRS 102 has had no effect on any item included within the opening balance sheet of the comparative

period at 1st January 2015, the income statement for the comparative period ended 31st December 2015 or the

closing balance sheet of the comparative period at 31st December 2015.