| Registered Number:03585080 |
For the year ended 31 October 2017
England and Wales
Unaudited Financial Statements
Abbeycom Ltd
Statement of Financial Position
2016
2017
| Property, plant and equipment |
36,046
53,892
2
36,046
53,892
-
356,825
3
| Trade and other receivables |
120,461
67,564
4
296,026
| Cash and cash equivalents |
33,378
457,767
416,487
| Trade and other payables: amounts falling due within one |
| year |
(59,807)
(102,235)
5
356,680
355,532
Net current assets
| Total assets less current liabilities |
391,578
410,572
(1,375)
(1,375)
| Provisions for liabilities |
390,203
Net assets
409,197
100
100
390,103
409,097
390,203
409,197
Shareholders' funds
| For the year ended 31 October 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2017 in accordance with Section 476 of the Companies Act 2006 |
| The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
| 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| 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. |
| These financial statements were approved and authorised for issue by the Board on 04 May 2018 and were signed by: |
| The notes form part of these financial statements |
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For the year ended 31 October 2017
Abbeycom Ltd
Notes to the Financial Statements
Statutory Information
| Abbeycom Ltd is a private limited company, limited by shares, domiciled in England and Wales, registration number |
| 03585080. |
Suite 203 Lakes Innovation Centre
Lakes Road
Braintree
Essex
CM7 3AN
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention as |
| modified by the revaluation of certain assets. |
Revenue recognition
| Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
| Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Plant and machinery
Motor vehicles
Inventories
| Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Deferred tax
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
| The finance element of the rental payment is charged to the profit and loss account on a method giving a constant rate of return on the balance outstanding. |
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For the year ended 31 October 2017
Abbeycom Ltd
Notes to the Financial Statements Continued
| 2. Property, plant and equipment |
83,931
57,612
26,319
18,263
13,500
4,763
(31,722)
-
(31,722)
31,082
39,390
70,472
| Provision for depreciation and impairment |
30,039
10,518
19,521
Charge for year
12,859
9,969
2,890
(8,472)
(8,472)
-
34,426
12,015
22,411
8,671
27,375
36,046
6,798
47,094
53,892
2016
2017
356,825
-
| 4. Trade and other receivables |
2016
2017
1,492
43,600
| Amounts owed by group undertakings and participating interests |
66,072
65,626
-
11,235
120,461
67,564
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For the year ended 31 October 2017
Abbeycom Ltd
Notes to the Financial Statements Continued
| 5. Trade and other payables: amounts falling due within one year |
2016
2017
11,219
6,405
| Taxation and social security |
23,265
43,914
67,751
9,488
102,235
59,807
| 6. Related party transactions |
| The company is controlled by the drector K.Gee who has direct control over 100% of the voting rights of the |
| company. |
| The director K.Gee has given a personal guarantee of £25,000 in support of the bank borrowings. Interim dividends |
| paid to the director during the year amounted £25,000 (2016: £110,000). No final dividend was proposed for the |
| year. |
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