Abel Holdings Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01615003 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2017

FOR

ABEL HOLDINGS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

J D Abel

H Abrahams

M Marshall

REGISTERED OFFICE:

3 Blacklands Crescent

Forest Row

East Sussex

RH18 5NN

REGISTERED NUMBER:

01615003 (England and Wales)

ACCOUNTANTS:

Charles Lamb

Chartered Accountants

3 Blacklands Crescent

Forest Row

East Sussex

RH18 5NN

FIXED ASSETS

Investments

4

1,569,345

CREDITORS

Amounts falling due within one year

5

1,112,732

1,075,737

NET CURRENT LIABILITIES

(1,112,732

)

(1,075,737

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

456,613

493,608

CAPITAL AND RESERVES

Called up share capital

400,000

Retained earnings

56,613

93,608

SHAREHOLDERS' FUNDS

456,613

493,608

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 19 February 2018 and were signed on its behalf
by:

J D Abel - Director

1.	STATUTORY INFORMATION

Abel Holdings 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.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	FIXED ASSET INVESTMENTS

2017

2016

£

Shares in group undertakings

800,000

Participating interests

99

Other investments not loans

769,246

1,569,345

Additional information is as follows:

Shares in

Interest

group

in

undertakings

associate

Totals

£

COST

At 1 August 2016

and 31 July 2017

800,000

99

800,099

NET BOOK VALUE

At 31 July 2017

800,000

99

800,099

At 31 July 2016

800,000

99

800,099

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

Abel Trust Trading Company

769,246

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

Other creditors

1,112,732

1,075,737

6.	RELATED PARTY DISCLOSURES

Included in other creditors are loans of £45,000 from the Abel Holdings Retirement Benefit Scheme which are

unsecured and bear interest at 3% per annum over Barclays Bank base rate. An interest charge of £36,366 has

been included in the figures for the year in respect of interest accrued on past loans..

During the year ended 31 July 2005, the Abel Holdings Retirement Benefit Scheme assigned the right to receive

repayment of capital of £45,000 and accrued interest thereon amounting in total to £61,552 to Abel Crescent

Estates Limited.

Included in other creditors is an amount of £1,015,435 due to Abel Property Development Limited which is

interest free, unsecured and repayable on demand.

Included in other creditors is an amount of £51,997 due to Abel Crescent Estates Limited which is interest free,

unsecured and repayable on demand.

In previous years, the company acquired the right to receive loans from Abel Crescent Estates Limited with a

book value of £31,485 for no consideration. The loans do not bear interest and are unsecured.