Company Registration No. 03169270 (England and Wales)
ABM LEASING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
PAGES FOR FILING WITH REGISTRAR
ABM LEASING LIMITED
COMPANY INFORMATION
Directors
Mrs H J Jenson
M D Walpole
(Appointed 11 May 2017)
Secretary
M D Walpole
Company number
03169270
Registered office
Hillside
Crocknorth Road
East Horsley
Leatherhead
Surrey
KT24 5TF
Accountants
Perrys Accountants Limited
Chartered Accountants
32-34 St John's Road
Tunbridge Wells
Kent
TN4 9NT
ABM LEASING LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ABM LEASING LIMITED (REGISTERED NUMBER: 03169270)
BALANCE SHEET
AS AT
31 AUGUST 2017
31 August 2017
- 1 -
2017
2016
Notes
£
£
£
£
Fixed assets
Tangible assets
3
204,782
202,476
Current assets
Debtors
4
278,792
274,562
Cash at bank and in hand
7,559
10,431
286,351
284,993
Creditors: amounts falling due within one year
5
(186,505)
(198,703)
Net current assets
99,846
86,290
Total assets less current liabilities
304,628
288,766
Capital and reserves
Called up share capital
6
1,000
1,000
Profit and loss reserves
303,628
287,766
Total equity
304,628
288,766

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

The financial statements were approved by the board of directors and authorised for issue on 14 May 2018 and are signed on its behalf by:
M D Walpole
Director
ABM LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2017
- 2 -
1
Accounting policies
Company information

ABM Leasing Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hillside, Crocknorth Road, East Horsley, Leatherhead, Surrey, KT24 5TF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

These financial statements for the year ended 31 August 2017 are the first financial statements of ABM Leasing Limited prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 September 2015. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on reducing balance
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

ABM LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
1
Accounting policies
(Continued)
- 3 -
1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 2 (2016 - 2).

3
Tangible fixed assets
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
Cost
At 1 September 2016
153,996
392,489
546,485
Additions
-
108,688
108,688
Disposals
-
(76,044)
(76,044)
At 31 August 2017
153,996
425,133
579,129
Depreciation and impairment
At 1 September 2016
147,900
196,109
344,009
Depreciation charged in the year
1,524
66,736
68,260
Eliminated in respect of disposals
-
(37,922)
(37,922)
At 31 August 2017
149,424
224,923
374,347
Carrying amount
At 31 August 2017
4,572
200,210
204,782
At 31 August 2016
6,096
196,380
202,476
ABM LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 4 -
4
Debtors
2017
2016
Amounts falling due within one year:
£
£
Trade debtors
2,060
2,075
Other debtors
265,039
264,094
267,099
266,169
Amounts falling due after more than one year:
Deferred tax asset
11,693
8,393
Total debtors
278,792
274,562
5
Creditors: amounts falling due within one year
2017
2016
£
£
Corporation tax
181,947
174,206
Other creditors
4,558
24,497
186,505
198,703
6
Called up share capital
2017
2016
£
£
Ordinary share capital
Issued and fully paid
970 Ordinary shares of £1 each
970
970
5 Ordinary shares A of £1 each
5
5
5 Ordinary shares B of £1 each
5
5
5 Ordinary shares C of £1 each
5
5
5 Ordinary shares D of £1 each
5
5
5 Ordinary shares E of £1 each
5
5
5 Ordinary shares F of £1 each
5
5
1,000
1,000
7
Ultimate Controlling Party

There is no ultimate controlling party.

ABM LEASING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2017
- 5 -
8
Related party transactions

During the year, total dividends of £231,415 (2016 - 267,339) were paid to the directors.

 

Maywal Limited

A company in which the director M D Walpole and the former director C D Murch are also directors.

 

During the year, the company made supplies totalling £1,066,758 to Maywal Limited. As at the balance sheet date the company was owed £160,969 by Maywal Limited, this amount in included in other debtors.

 

Phoenix Green Resources Limited

A company in which the director M D Walpole and the former director C D Murch are also directors.

 

During the year, the company made supplies amounting to £1,020 to Phoenix Green Resources Limited.

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