REGISTERED NUMBER: 06903737 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2017

for

Abbey Tax and Accountancy Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

D E Ashley

SECRETARY:

D M Ashley

REGISTERED OFFICE:

17 Caldbeck

Waltham Abbey

Essex

EN9 1UR

REGISTERED NUMBER:

06903737 (England and Wales)

ACCOUNTANTS:

J & J Accountancy

34 Howard Business Park

Howard Close

Waltham Abbey

Essex

EN9 1XE

FIXED ASSETS

Tangible assets

4

2,589

3,453

CURRENT ASSETS

Debtors

5

7,981

11,265

Cash at bank

21,702

12,183

29,683

23,448

CREDITORS

Amounts falling due within one year

6

25,977

22,389

NET CURRENT ASSETS

3,706

1,059

TOTAL ASSETS LESS CURRENT LIABILITIES

6,295

4,512

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,195

4,412

SHAREHOLDERS' FUNDS

6,295

4,512

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 director acknowledges his 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 director on 31 December 2017 and were signed by:

D E Ashley - Director

1.	STATUTORY INFORMATION

Abbey Tax and Accountancy Limited 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.

Tangible fixed assets

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

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

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 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2016

and 31 March 2017

6,030

3,560

7,995

17,585

DEPRECIATION

At 1 April 2016

4,928

2,632

6,572

14,132

Charge for year

276

232

356

864

At 31 March 2017

5,204

2,864

6,928

14,996

NET BOOK VALUE

At 31 March 2017

826

696

1,067

2,589

At 31 March 2016

1,102

928

1,423

3,453

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade debtors

7,923

11,165

Other debtors

58

100

7,981

11,265

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.17

31.3.16

£

£

Trade creditors

3,000

4,560

Tax

558

4,004

VAT

5,516

3,941

Other creditors

500

-

Directors' current accounts

16,403

9,884

25,977

22,389