REGISTERED NUMBER: 01175835 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 July 2017

for

Abbeygate Enterprises Ltd

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

Mr M Georgiou

Mrs A Georgiou

Mr N Georgiou

Mrs V Georgiou-Holden

SECRETARY:

Mrs A Georgiou

REGISTERED OFFICE:

Eldo House

Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

REGISTERED NUMBER:

01175835 (England and Wales)

ACCOUNTANTS:

Knights Lowe

Chartered Accountants

Eldo House, Kempson Way

Suffolk Business Park

Bury St Edmunds

Suffolk

IP32 7AR

FIXED ASSETS

Tangible assets

4

240

308

Investments

5

73,093

76,886

Investment property

6

1,584,000

1,584,000

1,657,333

1,661,194

CURRENT ASSETS

Stocks

-

4,932

Debtors

7

4,681

13,489

Cash at bank

247,727

241,702

252,408

260,123

CREDITORS

Amounts falling due within one year

8

120,897

118,967

NET CURRENT ASSETS

131,511

141,156

TOTAL ASSETS LESS CURRENT LIABILITIES

1,788,844

1,802,350

PROVISIONS FOR LIABILITIES

9

112,621

119,198

NET ASSETS

1,676,223

1,683,152

CAPITAL AND RESERVES

Called up share capital

10

150,000

150,000

Fair value reserve

11

885,289

882,505

Retained earnings

640,934

650,647

SHAREHOLDERS' FUNDS

1,676,223

1,683,152

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 8 January 2018 and were signed on its behalf by:

Mr N Georgiou - Director

1.	STATUTORY INFORMATION

Abbeygate Enterprises 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.

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 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 as modified by the revaluation of certain assets.

These financial statements are the first financial statements that comply with FRS 102 Section 1A small entities.

The date of transition is 1st August 2015. The transition has resulted in an alignment of accounting policies to

those required in the adoption of FRS 102 and FRS 102 1A. Any impact is explained in the notes to these

financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Rent represents the total rent due spread evenly over the period of the lease to which it relates.

Tangible fixed assets

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

Fixtures and fittings

-

10% on cost

Investment property

Investment property is shown at most recent valuation. The last valuation by an independent valuer who holds

a recognised and relevant qualification was made in 2014. In the directors opinion there had not been any

significant change in this valuation as at 31st July 2017. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss. Deferred taxation is provided on those gains.

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.

Investments

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

Impairment

At each reporting date, fixed assets, including tangible fixed assets, are assessed to determine whether there is

an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset

should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which

is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount.

If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated

recoverable amount and an impairment loss is recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2016 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2016

25,650

Disposals

(174

)

At 31 July 2017

25,476

DEPRECIATION

At 1 August 2016

25,342

Charge for year

67

Eliminated on disposal

(173

)

At 31 July 2017

25,236

NET BOOK VALUE

At 31 July 2017

240

At 31 July 2016

308

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 August 2016

76,886

Revaluations

(3,793

)

At 31 July 2017

73,093

NET BOOK VALUE

At 31 July 2017

73,093

At 31 July 2016

76,886

Cost or valuation at 31 July 2017 is represented by:

Other

investments

£

Valuation in 2017

17,263

Cost

55,830

73,093

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2016

and 31 July 2017

1,584,000

NET BOOK VALUE

At 31 July 2017

1,584,000

At 31 July 2016

1,584,000

Fair value at 31 July 2017 is represented by:

£

Valuation in 2014

980,647

Cost

603,353

1,584,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

837

837

Other debtors

3,844

12,652

4,681

13,489

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

1,178

1,868

Taxation and social security

25,093

26,200

Other creditors

94,626

90,899

120,897

118,967

9.	PROVISIONS FOR LIABILITIES

2017

2016

£

£

Deferred tax

Other timing differences

112,621

119,198

Deferred

tax

£

Balance at 1 August 2016

119,198

Provided during year

(6,577

)

Balance at 31 July 2017

112,621

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

150,000

Ordinary

£1

150,000

150,000

11.

RESERVES

Fair

value

reserve

£

At 1 August 2016

882,505

Movement in year

2,784

At 31 July 2017

885,289

The revaluation reserve relates to investment properties and listed investments including deferred tax.