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Abbey Leisure Group Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2017

Ripe LLP
9A Burroughs Gardens
London
NW4 4AU

Abbey Leisure Group Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Abbey Leisure Group Limited

Company Information

Director

Mr M C Aljoe

Company secretary

Mr M C Aljoe

Registered office

23/24 Greek Street London W1D 4DZ

Accountants

Ripe LLP 9A Burroughs Gardens London NW4 4AU

Page 1

Abbey Leisure Group Limited

(Registration number: 00887321)
Balance Sheet as at 31 December 2017

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	-	12,000
Investments		705,000	801,250
		705,000	813,250
Current assets
Stocks	5	126,282	-
Debtors	6	499,946	531,372
Cash at bank and in hand		382,435	25,122
		1,008,663	556,494
Creditors: Amounts falling due within one year	7	(446,819)	(244,241)
Net current assets		561,844	312,253
Net assets		1,266,844	1,125,503
Capital and reserves
Called up share capital		100	100
Profit and loss account		1,266,744	1,125,403
Total equity		1,266,844	1,125,503

For the financial year ending 31 December 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

Abbey Leisure Group Limited

(Registration number: 00887321)
Balance Sheet as at 31 December 2017

Approved and authorised by the director on 1 May 2018
 

.........................................

Mr M C Aljoe

Company secretary and director

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

1	General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
23/24 Greek Street
London
W1D 4DZ

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

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

Asset class	Depreciation method and rate
Plant and machinery etc	15% on reducing balance

Page 4

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Page 5

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

3	Investments in subsidiaries, joint ventures and associates

 

Subsidiaries	£
Cost or valuation
At 1 January 2017	835,000
Additions	-
At 31 December 2017	835,000
Provision
At 1 January 2017	33,750
Provision	96,250
At 31 December 2017	130,000
Carrying amount
At 31 December 2017	705,000
At 31 December 2016	801,250

The company's investments at the Balance Sheet date in the share capital of companies include the following:
Abbey Box Office Limited
Nature of business: Ticket agents
	%
Class of shares:	holding
Ordinary	100
			31/12/16		31/12/15
			£		£
Aggregate capital and reserves			4,934		7,460
(Loss)/profit for the year			(2,526)		(2,376)

Page 6

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

Oberon Properties Limited
Country of incorporation: Malta
Nature of business: Property Investment
	%
Class of shares:	holding
Ordinary	100
			31/12/16		31/12/15
			£		£
Aggregate capital and reserves			-		-
(Loss)/profit for the year			-		-
Information in respect of the capital, reserves as at 31 December 2016 and the profit/loss for the year ended 31 December 2016 of Oberon Properties Limited is not yet available .

Page 7

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

4	Tangible assets

	Furniture, fittings and equipment  £	Other property, plant and equipment  £	Total £
Cost or valuation
At 1 January 2017	1,080	12,000	13,080
Disposals	-	(12,000)	(12,000)
At 31 December 2017	1,080	-	1,080
Depreciation
At 1 January 2017	1,080	-	1,080
At 31 December 2017	1,080	-	1,080
Carrying amount
At 31 December 2017	-	-	-
At 31 December 2016	-	12,000	12,000

5

Stocks

	2017 £	2016 £
Finished goods and goods for resale	126,282	-

6

Debtors

	Note	2017  £	2016  £
Trade debtors		166,777	112,525
Amounts owed by related parties		152,250	172,820
Other debtors		7,000	13,154
Prepayments		173,919	232,873
		499,946	531,372

Page 8

Abbey Leisure Group Limited

Notes to the Financial Statements for the Year Ended 31 December 2017

7

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		241,455	96,017
Amounts owed to group undertakings and undertakings in which the company has a participating interest		137,789	144,316
Taxation and social security		51,828	-
Accruals and deferred income		2,150	1,900
Other creditors		13,597	2,008
		446,819	244,241