REGISTERED NUMBER: 04717744 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abbeyfield Decorators Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Sharon Anne Hore

Calvin Stanley Hore

SECRETARY:

Sharon Anne Hore

REGISTERED OFFICE:

11 Holdenby Court

Anchorage Park

Portsmouth

Hampshire

PO3 5US

REGISTERED NUMBER:

04717744 (England and Wales)

ACCOUNTANTS:

KT Accountants Limited

Castle Farm Barn North

Denmead Road

Southwick

Hampshire

PO17 6EX

FIXED ASSETS

Intangible assets

4

9,000

10,500

Tangible assets

5

22,190

17,304

31,190

27,804

CURRENT ASSETS

Stocks

1,740

1,625

Debtors

6

252,655

285,610

Cash at bank

309,995

205,566

564,390

492,801

CREDITORS

Amounts falling due within one year

7

143,451

136,722

NET CURRENT ASSETS

420,939

356,079

TOTAL ASSETS LESS CURRENT LIABILITIES

452,129

383,883

CREDITORS

Amounts falling due after more than one year

8

(750

)

(2,548

)

PROVISIONS FOR LIABILITIES

9

(4,438

)

(3,461

)

NET ASSETS

446,941

377,874

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

445,941

376,874

SHAREHOLDERS' FUNDS

446,941

377,874

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 17 July 2017 and were signed on its behalf by:

Calvin Stanley Hore - Director

Sharon Anne Hore - Director

1.	STATUTORY INFORMATION

Abbeyfield Decorators 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.

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 2003, 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

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 profit or loss over the relevant period.

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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

30,000

AMORTISATION

At 1 April 2016

19,500

Amortisation for year

1,500

At 31 March 2017

21,000

NET BOOK VALUE

At 31 March 2017

9,000

At 31 March 2016

10,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2016

4,766

31,488

36,254

Additions

544

11,739

12,283

At 31 March 2017

5,310

43,227

48,537

DEPRECIATION

At 1 April 2016

3,602

15,348

18,950

Charge for year

426

6,971

7,397

At 31 March 2017

4,028

22,319

26,347

NET BOOK VALUE

At 31 March 2017

1,282

20,908

22,190

At 31 March 2016

1,164

16,140

17,304

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Motor

vehicles

£

COST

At 1 April 2016

and 31 March 2017

10,995

DEPRECIATION

At 1 April 2016

6,356

Charge for year

1,160

At 31 March 2017

7,516

NET BOOK VALUE

At 31 March 2017

3,479

At 31 March 2016

4,639

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

253,989

290,561

Bad debt provision

(4,951

)

(4,951

)

Prepayments

3,617

-

252,655

285,610

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

1,799

1,799

Trade creditors

14,717

17,938

Corporation tax

37,065

25,465

Social security and other taxes

13,054

15,392

VAT

50,720

50,857

Other creditors

-

5,028

Directors' current accounts

136

87

Accrued expenses

25,960

20,156

143,451

136,722

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.17

31.3.16

£

£

Hire purchase contracts

750

2,548

9.	PROVISIONS FOR LIABILITIES

31.3.17

31.3.16

£

£

Deferred tax

4,438

3,461

Deferred

tax

£

Balance at 1 April 2016

3,461

Provided during year

977

Balance at 31 March 2017

4,438

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended

31 March 2017 and 31 March 2016:

31.3.17

31.3.16

£

£

Calvin Stanley Hore and Sharon Anne Hore

Balance outstanding at start of year

(87

)

(21

)

Amounts advanced

(49

)

(66

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(136

)

(87

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Calvin Stanley Hore.

12.	FIRST YEAR ADOPTION

This is the first year the company has presented its financial statements under Financial

Reporting Standard 102 Section 1a (FRS102 (1a)) issued by the Financial Reporting

Council. The last financial statements for the year ended 31 March 2016, were prepared

under the previous UK GAAP. The transition date to FRS102 (1a) is therefore 01 April 2016.

There were no material adjustments required on transition to FRS102 (1a) and as such it

has not been necessary to restate prior year comparatives following implementation of

FRS102 (1a).