REGISTERED NUMBER: SC097865 (Scotland)

Unaudited Financial Statements

for the Period 1 February 2016 to 30 January 2017

for

Abodes Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R G Woodford

J C Woodford

SECRETARY:

J C Woodford

REGISTERED OFFICE:

Ravelston House

994 Great Western Road

GLASGOW

G12 0NS

REGISTERED NUMBER:

SC097865 (Scotland)

ACCOUNTANTS:

The Kelvin Partnership Ltd

Chartered Accountants

The Cooper Building

505 Great Western Road

Glasgow

G12 8HN

FIXED ASSETS

Tangible assets

4

9,308

6,838

Investment property

5

720,000

547,219

729,308

554,057

CURRENT ASSETS

Debtors

6

17,346

17,251

Cash at bank

13,241

4,045

30,587

21,296

CREDITORS

Amounts falling due within one year

7

60,918

23,754

NET CURRENT LIABILITIES

(30,331

)

(2,458

)

TOTAL ASSETS LESS CURRENT LIABILITIES

698,977

551,599

CREDITORS

Amounts falling due after more than one year

8

(197,673

)

(208,187

)

PROVISIONS FOR LIABILITIES

(28,679

)

-

NET ASSETS

472,625

343,412

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation reserve

10

174,077

174,077

Retained earnings

298,448

169,235

SHAREHOLDERS' FUNDS

472,625

343,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 January 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 January 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 20 November 2017 and were signed on its behalf by:

J C Woodford - Director

1.	STATUTORY INFORMATION

Abodes Ltd is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

Turnover

Turnover is the amount receivable for the provision of goods and services falling within the company's ordinary

activities,excluding value added tax.

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

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2016 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 February 2016

18,911

27,408

2,997

49,316

Additions

5,783

-

439

6,222

At 30 January 2017

24,694

27,408

3,436

55,538

DEPRECIATION

At 1 February 2016

13,425

26,541

2,512

42,478

Charge for period

2,914

589

249

3,752

At 30 January 2017

16,339

27,130

2,761

46,230

NET BOOK VALUE

At 30 January 2017

8,355

278

675

9,308

At 31 January 2016

5,486

867

485

6,838

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2016

547,219

Additions

4,079

Revaluations

168,702

At 30 January 2017

720,000

NET BOOK VALUE

At 30 January 2017

720,000

At 31 January 2016

547,219

Fair value at 30 January 2017 is represented by:

£

Valuation in 2002

513,997

Valuation in 2016

33,222

Valuation in 2017

172,781

720,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.17

31.1.16

£

£

Other debtors

17,346

17,251

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.1.17

31.1.16

£

£

Bank loans and overdrafts

18,943

18,943

Taxation and social security

-

114

Other creditors

41,975

4,697

60,918

23,754

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.1.17

31.1.16

£

£

Bank loans

197,673

208,187

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

121,900

132,414

9.	SECURED DEBTS

The following secured debts are included within creditors:

30.1.17

31.1.16

£

£

Bank loans

216,616

227,130

10.

RESERVES

Revaluation

reserve

£

At 1 February 2016

and 30 January 2017

174,077

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end date the directors were owed the following amounts

RG Woodford £2,388 (2016 - £788).

JC Woodford £ 5,768 (2016 - £788).

These amounts bear no interest and re repayable on demand.

12.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors the ultimate controlling party is J C Woodford.

13.	FIRST YEAR ADOPTION

These financial statements for the year ended 31 January 2017 are the first financial statements

that comply with FRS 102 Section 1A small entities. The date of transition is 1 February 2016.

There has been no impact on opening equity and profit for the comparative period.